Stephens Analysts Give Nexstar Broadcasting Group Inc. (NXST) a $65.00 Price Target
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) has been given a $65.00 price objective by analysts at Stephens in a report released on Wednesday. The firm currently has a a “buy” rating on the stock. Stephens’ price objective would suggest a potential upside of 21.50% from the company’s previous close.
Several other analysts have also recently commented on the stock. Zacks Investment Research cut shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Jefferies Group restated a “buy” rating on shares of Nexstar Broadcasting Group in a report on Friday, August 5th. Finally, Wells Fargo & Co. restated a “positive” rating and set a $66.00 price target on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. One research analyst has rated the stock with a sell rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $66.63.
Nexstar Broadcasting Group (NASDAQ:NXST) traded up 3.18% during mid-day trading on Wednesday, reaching $55.20. 544,699 shares of the company were exchanged. The company’s 50 day moving average price is $53.13 and its 200-day moving average price is $50.67. The stock has a market capitalization of $1.69 billion, a P/E ratio of 19.35 and a beta of 2.04. Nexstar Broadcasting Group has a 12 month low of $34.65 and a 12 month high of $61.79.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, missing the consensus estimate of $0.85 by $0.07. The company had revenue of $261.99 million for the quarter, compared to analyst estimates of $265.19 million. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.63 earnings per share. On average, equities analysts expect that Nexstar Broadcasting Group will post $3.98 earnings per share for the current fiscal year.
In other news, SVP Blake Russell sold 10,000 shares of Nexstar Broadcasting Group stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $52.38, for a total value of $523,800.00. Following the transaction, the senior vice president now owns 27,861 shares of the company’s stock, valued at $1,459,359.18. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas Carter sold 1,236 shares of Nexstar Broadcasting Group 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 completion of the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $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 added to or reduced their stakes in the stock. Virginia Retirement System purchased a new position in Nexstar Broadcasting Group during the first quarter worth approximately $784,000. Pacad Investment Ltd. raised its position 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 worth $841,000 after buying an additional 12,100 shares during the period. BlackRock Group LTD raised its position 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 worth $4,294,000 after buying an additional 21,836 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Nexstar Broadcasting Group during the first quarter worth about $1,499,000. Finally, Sentry Investment Management LLC raised its position 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 worth $1,484,000 after buying an additional 3,800 shares during the period.
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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