Nexstar Broadcasting Group (NXST) Earning Favorable Press Coverage, Analysis Shows
Headlines about Nexstar Broadcasting Group (NASDAQ:NXST) have trended positive recently, according to Accern Sentiment. Accern rates the sentiment of press coverage by reviewing more than twenty million news and blog sources in real-time. Accern ranks coverage of publicly-traded companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Nexstar Broadcasting Group earned a media sentiment score of 0.36 on Accern’s scale. Accern also assigned media stories about the company an impact score of 46.4033830401671 out of 100, indicating that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the immediate future.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 57.80 on Friday. Nexstar Broadcasting Group has a 52 week low of $47.00 and a 52 week high of $73.90. The firm has a market cap of $2.67 billion, a PE ratio of 23.78 and a beta of 2.27. The firm has a 50-day moving average of $61.57 and a 200-day moving average of $63.62.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. The company had revenue of $626.11 million for the quarter, compared to the consensus estimate of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm’s quarterly revenue was up 139.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS. On average, analysts expect that Nexstar Broadcasting Group will post $3.57 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Friday, August 11th were issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend was Wednesday, August 9th. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is currently 48.78%.
Nexstar Broadcasting Group declared that its Board of Directors has authorized a share buyback program on Monday, June 12th that authorizes the company to repurchase $51.30 million in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.
Several analysts have recently weighed in on NXST shares. ValuEngine lowered shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 target price on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 18th. Wells Fargo & Company reiterated an “outperform” rating and set a $85.00 target price on shares of Nexstar Broadcasting Group in a research report on Friday, July 14th. Finally, BidaskClub raised shares of Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, June 14th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Nexstar Broadcasting Group presently has an average rating of “Buy” and an average price target of $77.00.
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In related news, Director Dennis Miller sold 4,500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Carter sold 3,125 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $63.50, for a total transaction of $198,437.50. Following the completion of the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at $4,307,586. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.
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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