Jefferies Group reissued their buy rating on shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) in a report released on Wednesday morning. The brokerage currently has a $60.00 price objective on the stock.
Several other research analysts have also recently issued reports on NXST. Zacks Investment Research raised shares of Nexstar Broadcasting Group from a hold rating to a strong-buy rating and set a $54.00 target price for the company in a report on Wednesday, July 6th. Wells Fargo & Co. reaffirmed a positive rating and issued 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 issued a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $66.63.
Nexstar Broadcasting Group (NASDAQ:NXST) opened at 57.71 on Wednesday. The firm’s 50 day moving average is $53.55 and its 200 day moving average is $50.81. 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 $1.77 billion, a P/E ratio of 20.23 and a beta of 2.30.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate 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 analysts’ expectations of $265.19 million. During the same period last year, the business earned $0.63 EPS. The company’s revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts anticipate that Nexstar Broadcasting Group will post $3.81 EPS for the current fiscal year.
In other news, SVP Blake Russell sold 10,000 shares of Nexstar Broadcasting Group stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $52.38, for a total value of $523,800.00. Following the sale, the senior vice president now owns 27,861 shares in the company, valued at $1,459,359.18. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas Carter sold 1,236 shares of the business’s stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $51.52, for a total transaction of $63,678.72. Following the transaction, the chief financial officer now owns 67,836 shares in the company, valued at $3,494,910.72. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Nexstar Broadcasting Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,090,329 shares of the company’s stock worth $99,457,000 after buying an additional 28,291 shares during the last quarter. Brenner West Capital Advisors LLC raised its position in Nexstar Broadcasting Group by 9.4% in the second quarter. Brenner West Capital Advisors LLC now owns 1,116,899 shares of the company’s stock worth $53,142,000 after buying an additional 95,749 shares during the last quarter. Royal Bank of Canada raised its position in Nexstar Broadcasting Group by 15.0% in the second quarter. Royal Bank of Canada now owns 1,089,500 shares of the company’s stock worth $51,838,000 after buying an additional 142,373 shares during the last quarter. Tiger Legatus Capital Management LLC raised its position in Nexstar Broadcasting Group by 57.1% in the second quarter. Tiger Legatus Capital Management LLC now owns 880,000 shares of the company’s stock worth $41,870,000 after buying an additional 320,000 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Nexstar Broadcasting Group by 1.1% in the second quarter. JPMorgan Chase & Co. now owns 851,142 shares of the company’s stock worth $40,498,000 after buying an additional 9,013 shares during the last quarter.
About Nexstar Broadcasting Group
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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