Nexstar Broadcasting Group, Inc. (NXST) Receives Average Recommendation of “Buy” from Analysts
Shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) have been given an average recommendation of “Buy” by the eleven ratings firms that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $81.88.
Several equities research analysts recently issued reports on the stock. BidaskClub downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Deutsche Bank AG assumed coverage on shares of Nexstar Broadcasting Group in a research note on Friday, October 20th. They set a “buy” rating and a $80.00 price target on the stock. Zacks Investment Research raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Saturday. Jefferies Group LLC reaffirmed a “buy” rating and set a $80.00 price target on shares of Nexstar Broadcasting Group in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $81.00 price target on shares of Nexstar Broadcasting Group in a research note on Monday, September 18th.
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In other Nexstar Broadcasting Group news, CFO Thomas Carter sold 3,125 shares of the firm’s stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the transaction, the chief financial officer now directly owns 67,836 shares of the company’s stock, valued at approximately $4,307,586. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dennis Miller sold 4,500 shares of the firm’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $63.49, for a total transaction of $285,705.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 977,732 shares of company stock valued at $58,618,210. 8.40% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the business. Thompson Siegel & Walmsley LLC acquired a new position in Nexstar Broadcasting Group during the 2nd quarter worth $125,000. Invictus RG acquired a new position in Nexstar Broadcasting Group during the 1st quarter worth $149,000. Bronfman E.L. Rothschild L.P. acquired a new position in Nexstar Broadcasting Group during the 2nd quarter worth $145,000. SG Americas Securities LLC grew its holdings in Nexstar Broadcasting Group by 48.4% during the 1st quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock worth $185,000 after acquiring an additional 859 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Nexstar Broadcasting Group during the 1st quarter worth $244,000.
Nexstar Broadcasting Group (NXST) opened at 61.20 on Wednesday. Nexstar Broadcasting Group has a 52 week low of $47.00 and a 52 week high of $73.90. The firm has a market cap of $2.83 billion, a P/E ratio of 25.17 and a beta of 2.22. The company’s 50 day moving average is $60.47 and its 200-day moving average is $61.79.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.01. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm had revenue of $626.11 million for the quarter, compared to the consensus estimate of $608.23 million. During the same quarter in the previous year, the firm posted $0.78 EPS. The firm’s quarterly revenue was up 139.0% on a year-over-year basis. Equities analysts expect that Nexstar Broadcasting Group will post $3.38 earnings per share for the current year.
About Nexstar Broadcasting Group
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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