Nexstar Broadcasting Group Inc. (NASDAQ:NXST) shares dropped 2.6% during mid-day trading on Tuesday . The company traded as low as $52.34 and last traded at $52.75, with a volume of 361,344 shares trading hands. The stock had previously closed at $54.14.

NXST has been the topic of a number of research reports. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Benchmark Co. upped their price target on Nexstar Broadcasting Group from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 18th. Noble Financial reaffirmed a “buy” rating and issued a $75.00 price target (up from $63.00) on shares of Nexstar Broadcasting Group in a research note on Friday, May 20th. Wells Fargo & Co. reaffirmed a “positive” rating and issued a $66.00 price target on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. Finally, Jefferies Group upped their price target on Nexstar Broadcasting Group from $57.00 to $63.00 in a research note on Tuesday, April 12th. One research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Nexstar Broadcasting Group presently has a consensus rating of “Buy” and a consensus target price of $66.38.

The firm has a market capitalization of $1.60 billion and a price-to-earnings ratio of 19.22. The stock has a 50 day moving average price of $50.70 and a 200-day moving average price of $47.96.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, May 3rd. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.67 by $0.02. The firm had revenue of $255.66 million for the quarter, compared to analysts’ expectations of $251.59 million. During the same period in the prior year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Equities analysts anticipate that Nexstar Broadcasting Group Inc. will post $4.36 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Stockholders of record on Friday, August 12th will be given a dividend of $0.24 per share. The ex-dividend date is Wednesday, August 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.84%.

Several hedge funds and institutional investors have recently modified their holdings of NXST. PNC Financial Services Group Inc. boosted its position in shares of Nexstar Broadcasting Group by 41.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 19,792 shares of the company’s stock worth $1,163,000 after buying an additional 5,766 shares in the last quarter. Airain ltd purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter worth approximately $1,710,000. Swiss National Bank boosted its position in shares of Nexstar Broadcasting Group by 1.2% in the fourth quarter. Swiss National Bank now owns 42,200 shares of the company’s stock worth $2,477,000 after buying an additional 500 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Nexstar Broadcasting Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 57,951 shares of the company’s stock worth $3,402,000 after buying an additional 900 shares in the last quarter. Finally, Russell Frank Co boosted its position in shares of Nexstar Broadcasting Group by 40.3% in the fourth quarter. Russell Frank Co now owns 102,942 shares of the company’s stock worth $5,963,000 after buying an additional 29,559 shares in the last quarter.

Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.

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