Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) had its price target boosted by Deutsche Bank AG from $80.00 to $85.00 in a report published on Wednesday. They currently have a buy rating on the stock.
Several other research analysts have also commented on NXST. BidaskClub raised Nexstar Broadcasting Group from a hold rating to a buy rating in a research report on Friday, August 11th. Royal Bank Of Canada reaffirmed an outperform rating and set a $81.00 price target (down previously from $83.00) on shares of Nexstar Broadcasting Group in a research report on Thursday, August 10th. B. Riley reaffirmed a buy rating and set a $79.00 price target on shares of Nexstar Broadcasting Group in a research report on Wednesday, November 1st. FBR & Co assumed coverage on Nexstar Broadcasting Group in a research report on Tuesday, October 31st. They set a buy rating and a $79.00 price target on the stock. Finally, Zacks Investment Research lowered Nexstar Broadcasting Group from a buy rating to a hold rating in a research report on Tuesday, October 17th. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Nexstar Broadcasting Group currently has a consensus rating of Buy and an average target price of $80.91.
Nexstar Broadcasting Group (NXST) traded down $0.55 on Wednesday, reaching $65.65. The company’s stock had a trading volume of 784,200 shares, compared to its average volume of 865,885. The firm has a market capitalization of $2,991.41, a price-to-earnings ratio of 17.23, a price-to-earnings-growth ratio of 1.45 and a beta of 2.24. Nexstar Broadcasting Group has a 52 week low of $55.00 and a 52 week high of $73.90. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.36 and a current ratio of 1.35.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, topping the consensus estimate of $0.89 by $0.09. The company had revenue of $611.87 million for the quarter, compared to analyst estimates of $609.44 million. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The firm’s revenue was up 122.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 earnings per share. sell-side analysts predict that Nexstar Broadcasting Group will post 3.51 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 45.11%.
In related news, Director John R. Muse sold 641,240 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total value of $38,538,524.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Julie Pruett sold 3,000 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $60.01, for a total value of $180,030.00. Following the completion of the sale, the insider now owns 11,985 shares in the company, valued at $719,219.85. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 970,307 shares of company stock worth $58,146,660. Company insiders own 7.80% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Wells Fargo & Company MN boosted its stake in shares of Nexstar Broadcasting Group by 3.4% in the third quarter. Wells Fargo & Company MN now owns 403,890 shares of the company’s stock valued at $25,162,000 after buying an additional 13,448 shares in the last quarter. Trexquant Investment LP purchased a new stake in shares of Nexstar Broadcasting Group in the third quarter valued at approximately $490,000. JPMorgan Chase & Co. boosted its position in Nexstar Broadcasting Group by 9.9% during the third quarter. JPMorgan Chase & Co. now owns 1,756,748 shares of the company’s stock worth $109,270,000 after purchasing an additional 158,626 shares in the last quarter. Virginia Retirement Systems ET AL purchased a new stake in Nexstar Broadcasting Group during the third quarter worth $554,000. Finally, Legal & General Group Plc boosted its position in Nexstar Broadcasting Group by 22.8% during the third quarter. Legal & General Group Plc now owns 20,504 shares of the company’s stock worth $1,276,000 after purchasing an additional 3,811 shares in the last quarter.
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.
Receive News & Ratings for Nexstar Broadcasting Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Broadcasting Group Inc. and related companies with our FREE daily email newsletter.