Nexstar Broadcasting Group Inc. (NASDAQ:NXST) received a $65.00 price objective from investment analysts at Stephens in a research report issued to clients and investors on Wednesday. The firm currently has a a “buy” rating on the stock. Stephens’ price objective points to a potential upside of 17.22% from the stock’s current price.
A number of other analysts have also recently issued reports on the company. Zacks Investment Research cut 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 report on Friday, August 5th. Finally, Wells Fargo & Co. reaffirmed a “positive” rating and set a $66.00 price target on shares of Nexstar Broadcasting Group in a research report on Monday, July 18th. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Nexstar Broadcasting Group has a consensus rating of “Buy” and an average target price of $66.63.
Nexstar Broadcasting Group (NASDAQ:NXST) opened at 55.45 on Wednesday. The company’s 50-day moving average is $53.40 and its 200-day moving average is $50.74. Nexstar Broadcasting Group has a 12 month low of $34.65 and a 12 month high of $61.79. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 19.44 and a beta of 2.04.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The business had revenue of $261.99 million for the quarter, compared to the consensus estimate of $265.19 million. During the same period in the previous year, the company posted $0.63 earnings per share. Nexstar Broadcasting Group’s revenue for the quarter was up 19.4% compared to the same quarter last year. On average, equities research analysts anticipate that Nexstar Broadcasting Group will post $3.94 earnings per share for the current year.
In other news, SVP Blake Russell sold 10,000 shares of the stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $52.38, for a total value of $523,800.00. Following the completion of the sale, the senior vice president now owns 27,861 shares of the company’s stock, valued at approximately $1,459,359.18. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Carter sold 1,236 shares of the stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 67,836 shares of the company’s stock, valued at approximately $3,494,910.72. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Several large investors have recently added to or reduced their stakes in the stock. Virginia Retirement System acquired a new stake in shares of Nexstar Broadcasting Group during the first quarter valued at about $784,000. Pacad Investment Ltd. increased its stake in shares of Nexstar Broadcasting Group by 175.4% in the first quarter. Pacad Investment Ltd. now owns 19,000 shares of the company’s stock valued at $841,000 after buying an additional 12,100 shares in the last quarter. BlackRock Group LTD increased its stake in shares of Nexstar Broadcasting Group by 29.1% in the first quarter. BlackRock Group LTD now owns 96,979 shares of the company’s stock valued at $4,294,000 after buying an additional 21,836 shares in the last quarter. Hudson Bay Capital Management LP acquired a new stake in shares of Nexstar Broadcasting Group during the first quarter valued at about $1,499,000. Finally, Sentry Investment Management LLC increased its stake in shares of Nexstar Broadcasting Group by 12.8% in the first quarter. Sentry Investment Management LLC now owns 33,518 shares of the company’s stock valued at $1,484,000 after buying an additional 3,800 shares in the last quarter.
Nexstar Broadcasting Group Company Profile
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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