Nexstar Broadcasting Group Inc. (NXST) Shares Down 2.1%
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) was down 2.1% on Friday . The company traded as low as $49.01 and last traded at $51.64, with a volume of 127,407 shares trading hands. The stock had previously closed at $52.74.
A number of equities research analysts recently weighed in on NXST shares. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Noble Financial reaffirmed a “buy” rating and issued a $75.00 target price (up from $63.00) on shares of Nexstar Broadcasting Group in a research note on Friday, May 20th. Finally, Wells Fargo & Co. reaffirmed a “positive” rating and issued a $66.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. One analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. Nexstar Broadcasting Group has a consensus rating of “Buy” and an average price target of $66.38.
The company’s 50-day moving average price is $52.66 and its 200 day moving average price is $48.93. The firm has a market cap of $1.58 billion and a price-to-earnings ratio of 18.06.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.07. During the same period in the previous year, the business posted $0.63 EPS. The company earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities analysts predict that Nexstar Broadcasting Group Inc. will post $4.01 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 26th. Investors of record on Friday, August 12th were paid a dividend of $0.24 per share. The ex-dividend date was Wednesday, August 10th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.86%.
In related news, CFO Thomas Carter sold 1,236 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $51.52, for a total transaction of $63,678.72. Following the completion of the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $3,494,910.72. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Blake Russell sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $52.38, for a total value of $523,800.00. Following the transaction, the senior vice president now owns 27,861 shares of the company’s stock, valued at $1,459,359.18. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Nexstar Broadcasting Group stock. Airain ltd acquired a new position in shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 29,123 shares of the company’s stock, valued at approximately $1,710,000. Airain ltd owned about 0.10% of Nexstar Broadcasting Group at the end of the most recent 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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