Nexstar Broadcasting Group Inc. (NASDAQ:NXST)‘s stock had its “buy” rating reaffirmed by stock analysts at Jefferies Group in a research report issued on Wednesday. They currently have a $60.00 price objective on the stock. Jefferies Group’s price objective indicates a potential upside of 8.21% from the company’s current price.
A number of other equities research analysts 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 price target on the stock in a research note on Wednesday, July 6th. Wells Fargo & Co. reaffirmed a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. One research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $66.63.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 55.45 on Wednesday. The stock’s 50 day moving average is $53.40 and its 200 day moving average is $50.74. Nexstar Broadcasting Group has a 1-year low of $34.65 and a 1-year high of $61.79. The firm has a market capitalization of $1.70 billion, a P/E ratio of 19.44 and a beta of 2.04.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly 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. The company earned $261.99 million during the quarter, compared to analysts’ expectations of $265.19 million. Nexstar Broadcasting Group had a net margin of 9.12% and a return on equity of 89.87%. Nexstar Broadcasting Group’s revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm posted $0.63 earnings per share. Equities analysts predict that Nexstar Broadcasting Group will post $3.94 earnings per share for the current year.
In related news, CFO Thomas Carter sold 1,236 shares of the company’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $51.52, for a total transaction of $63,678.72. Following 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Blake Russell sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $52.38, for a total transaction of $523,800.00. Following the sale, the senior vice president now directly owns 27,861 shares in the company, valued at $1,459,359.18. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
A number of large investors have recently made changes to their positions in NXST. BlackRock Inc. increased its stake in shares of Nexstar Broadcasting Group by 72.4% in the second quarter. BlackRock Inc. now owns 3,609 shares of the company’s stock worth $172,000 after buying an additional 1,516 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Nexstar Broadcasting Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,285 shares of the company’s stock worth $204,000 after buying an additional 518 shares in the last quarter. LPL Financial LLC purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter worth approximately $226,000. Cantab Capital Partners LLP increased its stake in shares of Nexstar Broadcasting Group by 1,080.4% in the second quarter. Cantab Capital Partners LLP now owns 5,300 shares of the company’s stock worth $252,000 after buying an additional 4,851 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Nexstar Broadcasting Group during the second quarter worth approximately $281,000.
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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