Nexstar Broadcasting Group Inc. (NXST) Shares Up 4%
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) shot up 4% during mid-day trading on Thursday . The company traded as high as $52.57 and last traded at $52.53, with a volume of 484,356 shares changing hands. The stock had previously closed at $50.52.
A number of brokerages have issued reports on NXST. Zacks Investment Research lowered shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Wells Fargo & Co. reissued a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. Jefferies Group reissued a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Noble Financial reissued a “buy” rating and set a $75.00 target price (up previously from $63.00) on shares of Nexstar Broadcasting Group in a research note on Friday, May 20th. Finally, Benchmark Co. lifted their target price on shares of Nexstar Broadcasting Group from $66.00 to $70.00 and gave the company a “buy” rating in a research note on Monday, April 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $66.38.
The firm’s 50-day moving average price is $50.91 and its 200-day moving average price is $48.18. The firm has a market cap of $1.61 billion and a price-to-earnings ratio of 19.35.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The business had revenue of $261.99 million for the quarter, compared to analysts’ expectations of $265.19 million. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.63 earnings per share. Analysts forecast that Nexstar Broadcasting Group Inc. will post $4.10 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be paid a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend is Wednesday, August 10th.
An institutional investor recently raised its position in Nexstar Broadcasting Group stock. Westfield Capital Management Co. LP boosted its stake in shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) by 47.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,369,026 shares of the company’s stock after buying an additional 440,943 shares during the period. Westfield Capital Management Co. LP owned approximately 4.47% of Nexstar Broadcasting Group worth $80,362,000 at the end of the most recent reporting period.
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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