ValuEngine upgraded shares of Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) from a hold rating to a buy rating in a research report released on Thursday, June 29th.
NXST has been the topic of several other research reports. Benchmark Co. restated a buy rating and set a $89.00 price objective (up previously from $70.00) on shares of Nexstar Broadcasting Group in a report on Wednesday, March 1st. Jefferies Group LLC reiterated a buy rating and set a $80.00 target price (up from $60.00) on shares of Nexstar Broadcasting Group in a research report on Friday, March 3rd. Wedbush lifted their target price on shares of Nexstar Broadcasting Group from $75.00 to $80.00 and gave the company an outperform rating in a research report on Wednesday, March 1st. BidaskClub upgraded shares of Nexstar Broadcasting Group from a strong sell rating to a sell rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research lowered shares of Nexstar Broadcasting Group from a buy rating to a hold rating in a research report on Saturday, May 13th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $78.00.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 1.51% during mid-day trading on Thursday, hitting $67.25. The stock had a trading volume of 486,234 shares. Nexstar Broadcasting Group has a 52-week low of $47.00 and a 52-week high of $73.90. The firm has a 50 day moving average price of $61.80 and a 200 day moving average price of $64.61. The firm has a market cap of $3.18 billion, a PE ratio of 31.24 and a beta of 2.30.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, May 9th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.27) by $0.71. Nexstar Broadcasting Group had a net margin of 5.47% and a return on equity of 24.33%. The company had revenue of $540.32 million for the quarter, compared to the consensus estimate of $525.76 million. During the same quarter in the previous year, the firm posted $0.69 EPS. The business’s revenue was up 111.3% compared to the same quarter last year. Equities analysts predict that Nexstar Broadcasting Group will post $3.31 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.78%. Nexstar Broadcasting Group’s payout ratio is 51.50%.
Nexstar Broadcasting Group announced that its board has authorized a share buyback program on Monday, June 12th that allows the company to buyback $51.30 million in shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its stock is undervalued.
Several large investors have recently bought and sold shares of the company. Parametrica Management Ltd purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter valued at approximately $437,000. First National Bank of Omaha increased its stake in shares of Nexstar Broadcasting Group by 44.8% in the first quarter. First National Bank of Omaha now owns 28,351 shares of the company’s stock valued at $1,989,000 after buying an additional 8,765 shares during the last quarter. Muse John R purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter valued at approximately $70,119,000. Peregrine Capital Management LLC purchased a new stake in shares of Nexstar Broadcasting Group during the first quarter valued at approximately $15,809,000. Finally, Teachers Advisors LLC increased its stake in shares of Nexstar Broadcasting Group by 1.4% in the fourth quarter. Teachers Advisors LLC now owns 48,784 shares of the company’s stock valued at $3,088,000 after buying an additional 665 shares during the last quarter.
About Nexstar Broadcasting Group
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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