Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Rating Increased to Buy at BidaskClub
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Friday.
A number of other analysts have also weighed in on NXST. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $72.00 target price for the company in a report on Friday, May 5th. ValuEngine lowered Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Royal Bank Of Canada restated a “buy” rating and set a $83.00 target price on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $85.00 target price on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $77.75.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 0.39% on Friday, hitting $63.90. The stock had a trading volume of 260,375 shares. The company has a market cap of $2.95 billion, a P/E ratio of 26.29 and a beta of 2.31. Nexstar Broadcasting Group has a 52-week low of $47.00 and a 52-week high of $73.90. The company has a 50-day moving average of $62.39 and a 200-day moving average of $64.65.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The company had revenue of $626.11 million during the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a return on equity of 23.10% and a net margin of 5.44%. Nexstar Broadcasting Group’s revenue was up 139.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.78 earnings per share. On average, equities analysts anticipate that Nexstar Broadcasting Group will post $3.22 EPS for the current fiscal year.
Nexstar Broadcasting Group declared that its board has initiated a stock repurchase plan on Monday, June 12th that permits the company to repurchase $51.30 million in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.
A number of large investors have recently bought and sold shares of the stock. Thompson Siegel & Walmsley LLC acquired a new stake in Nexstar Broadcasting Group during the second quarter valued at about $125,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Nexstar Broadcasting Group by 98.4% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock valued at $127,000 after buying an additional 901 shares during the last quarter. Blueport Capital L.P. acquired a new stake in Nexstar Broadcasting Group during the first quarter valued at about $140,000. Bronfman E.L. Rothschild L.P. acquired a new stake in Nexstar Broadcasting Group during the second quarter valued at about $145,000. Finally, Invictus RG acquired a new stake in Nexstar Broadcasting Group during the first quarter valued at about $149,000.
Nexstar Broadcasting Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, 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, and digital media services in medium-sized markets in the United States.
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