Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has received a consensus rating of “Buy” from the twelve research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold recommendation and ten have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $83.67.
A number of research analysts recently issued reports on the stock. BidaskClub cut shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. ValuEngine cut shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, September 1st. Zacks Investment Research raised shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research report on Wednesday, September 13th. Royal Bank of Canada reissued a “buy” rating and set a $81.00 price target on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. Finally, Jefferies Group reissued a “buy” rating and set a $80.00 price target on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st.
In other Nexstar Broadcasting Group news, Director John R. Muse sold 8,473 shares of Nexstar Broadcasting Group stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $60.03, for a total value of $508,634.19. Following the completion of the transaction, the director now directly owns 7,108 shares of the company’s stock, valued at $426,693.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Muse sold 229,267 shares of Nexstar Broadcasting Group stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $59.50, for a total transaction of $13,641,386.50. Following the completion of the transaction, the director now directly owns 4,743 shares of the company’s stock, valued at $282,208.50. The disclosure for this sale can be found here. Insiders sold 1,275,917 shares of company stock valued at $78,359,404 over the last ninety days. Corporate insiders own 7.80% of the company’s stock.
Shares of Nexstar Broadcasting Group (NXST) opened at $72.45 on Thursday. The firm has a market cap of $3,287.60, a PE ratio of 18.94, a PEG ratio of 1.62 and a beta of 2.21. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. Nexstar Broadcasting Group has a 52 week low of $55.95 and a 52 week high of $73.90.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.09. The firm had revenue of $611.87 million for the quarter, compared to analyst estimates of $609.44 million. Nexstar Broadcasting Group had a net margin of 5.60% and a return on equity of 16.20%. The company’s revenue for the quarter was up 122.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS. sell-side analysts forecast that Nexstar Broadcasting Group will post 3.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were issued a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.20 annualized dividend and a yield of 1.66%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 45.11%.
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Nexstar Broadcasting Group Company Profile
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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