Nexstar Broadcasting Group Inc. (NXST) Trading 2.8% Higher
Shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded up 2.8% during trading on Thursday . The company traded as high as $48.26 and last traded at $48.14, with a volume of 266,225 shares traded. The stock had previously closed at $46.85.
A number of analysts have recently commented on the company. Noble Financial reissued a “buy” rating and issued a $75.00 price objective (up previously from $63.00) on shares of Nexstar Broadcasting Group in a research note on Friday, May 20th. Benchmark Co. boosted their price objective on Nexstar Broadcasting Group from $66.00 to $70.00 and gave the stock a “buy” rating in a research note on Monday, April 18th. Zacks Investment Research raised Nexstar Broadcasting Group from a “hold” rating to a “strong-buy” rating and set a $54.00 target price on the stock in a research report on Wednesday. Finally, Jefferies Group boosted their target price on Nexstar Broadcasting Group from $57.00 to $63.00 in a research report on Tuesday, April 12th. Seven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Nexstar Broadcasting Group presently has a consensus rating of “Buy” and a consensus target price of $66.43.
The firm’s 50-day moving average is $50.01 and its 200-day moving average is $48.28. The firm has a market cap of $1.50 billion and a PE ratio of 17.99.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.69 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.02. The business had revenue of $255.66 million for the quarter, compared to the consensus estimate of $251.59 million. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was up 26.8% on a year-over-year basis. On average, equities research analysts predict that Nexstar Broadcasting Group Inc. will post $4.36 EPS for the current fiscal year.
A number of hedge funds and institutional investors have recently made changes to their positions in NXST. WBI Investments Inc. purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter worth approximately $9,521,000. Fiduciary Management Associates LLC raised its position in shares of Nexstar Broadcasting Group by 6.8% in the fourth quarter. Fiduciary Management Associates LLC now owns 383,607 shares of the company’s stock worth $22,519,000 after buying an additional 24,580 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Nexstar Broadcasting Group by 24.7% in the fourth quarter. Wells Fargo & Company MN now owns 37,433 shares of the company’s stock worth $2,197,000 after buying an additional 7,407 shares during the last quarter. Tributary Capital Management LLC purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter worth approximately $4,641,000. Finally, EAM Investors LLC raised its position in shares of Nexstar Broadcasting Group by 27.5% in the fourth quarter. EAM Investors LLC now owns 79,195 shares of the company’s stock worth $4,649,000 after buying an additional 17,090 shares during the last quarter.
Nexstar Broadcasting Group, Inc is a television broadcasting and digital media company focused on the acquisition, development and operation of television stations and interactive community Websites in medium-sized markets in the United States. As of December 31, 2014, the Company owned, operated, programmed or provided sales and other services to 87 television stations and 26 digital multicast channels in 49 markets in the states of Illinois, Indiana, Maryland, Missouri, Montana, Tennessee, Texas, Pennsylvania, Louisiana, Arkansas, Alabama, New York, Florida, Wisconsin, Michigan, Utah, Vermont, California, Iowa, Colorado and Virginia.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.