Nexstar Broadcasting Group Inc. (NXST) Trading 4% Higher
Shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) traded up 4% on Thursday . The stock traded as high as $52.57 and last traded at $52.53, with a volume of 484,356 shares. The stock had previously closed at $50.52.
Several analysts have weighed in on the stock. Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Zacks Investment Research cut 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 price target on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. Noble Financial reissued a “buy” rating and set a $75.00 price target (up from $63.00) on shares of Nexstar Broadcasting Group in a research note on Friday, May 20th. Finally, Benchmark Co. increased their price target 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 analyst has rated the stock with a sell rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $66.38.
The stock’s 50-day moving average price is $51.00 and its 200 day moving average price is $48.22. The firm has a market cap of $1.62 billion and a PE ratio of 18.53.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 earnings per share for the quarter, missing the consensus estimate of $0.85 by $0.07. During the same period last year, the business earned $0.63 EPS. The business had revenue of $261.99 million for the quarter, compared to analyst estimates of $265.19 million. The firm’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts predict that Nexstar Broadcasting Group Inc. will post $4.10 EPS for the current year.
The firm also recently disclosed 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 1.82%. The ex-dividend date is Wednesday, August 10th.
A hedge fund recently raised its stake 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 SEC. 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 about 4.47% of Nexstar Broadcasting Group worth $80,362,000 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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