Nexstar Broadcasting Group Inc. (NXST) Shares Down 2.1%
Shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) were down 2.1% during trading on Friday . The stock traded as low as $49.01 and last traded at $51.64, with a volume of 127,407 shares. The stock had previously closed at $52.74.
Several analysts have commented on NXST shares. Noble Financial reissued a “buy” rating and issued a $75.00 target price (up from $63.00) on shares of Nexstar Broadcasting Group in a research report on Friday, May 20th. 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. Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a report on Friday, August 5th. Finally, Wells Fargo & Co. reaffirmed a “positive” rating and set a $66.00 price objective on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $66.38.
The company has a market capitalization of $1.58 billion and a PE ratio of 18.06. The company’s 50-day moving average is $52.58 and its 200-day moving average is $48.83.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results 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 in the previous year, the company earned $0.63 earnings per share. The company had revenue of $261.99 million for the quarter, compared to analyst estimates of $265.19 million. The company’s quarterly revenue 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 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, August 26th. Investors of record on Friday, August 12th will be paid a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.96 annualized dividend and a dividend yield of 1.86%.
In related news, CFO Thomas Carter sold 1,236 shares of the firm’s stock in a transaction on Thursday, August 11th. The shares were sold at an average price of $51.52, for a total value of $63,678.72. Following the completion of the transaction, the chief financial officer now directly owns 67,836 shares of the company’s stock, valued at $3,494,910.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Blake Russell sold 10,000 shares of the firm’s stock in a transaction on Friday, August 12th. The shares were sold at an average price of $52.38, for a total transaction of $523,800.00. Following the completion of the transaction, the senior vice president now directly owns 27,861 shares of the company’s stock, valued at $1,459,359.18. The disclosure for this sale can be found here.
An institutional investor recently bought a new position in Nexstar Broadcasting Group stock. Airain ltd acquired a new position in Nexstar Broadcasting Group Inc. (NASDAQ:NXST) during the fourth quarter, according to its most recent filing with the SEC. The institutional investor acquired 29,123 shares of the company’s stock, valued at approximately $1,710,000. Airain ltd owned 0.10% of Nexstar Broadcasting Group as of its most recent SEC filing.
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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