Nexstar Broadcasting Group Inc. (NXST) Receives “Buy” Rating from Jefferies Group
Jefferies Group reissued their buy rating on shares of Nexstar Broadcasting Group Inc. (NASDAQ:NXST) in a research report released on Wednesday morning. The firm currently has a $60.00 target price on the stock.
Several other brokerages have also commented on NXST. 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. Zacks Investment Research raised Nexstar Broadcasting Group from a hold rating to a strong-buy rating and set a $54.00 price objective for the company in a report on Wednesday, July 6th. One investment analyst has rated the stock with a sell rating and eight have given a buy rating to the company. Nexstar Broadcasting Group currently has a consensus rating of Buy and an average target price of $66.63.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 0.535% during trading on Wednesday, hitting $55.415. The stock had a trading volume of 111,346 shares. The stock has a 50 day moving average of $53.26 and a 200 day moving average of $50.70. 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 $1.70 billion, a PE ratio of 19.430 and a beta of 2.04.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 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 firm earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. During the same period in the previous year, the firm earned $0.63 EPS. The business’s revenue was up 19.4% on a year-over-year basis. Equities analysts forecast that Nexstar Broadcasting Group will post $3.98 EPS for the current fiscal year.
In related news, 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 value of $63,678.72. Following the sale, the chief financial officer now directly owns 67,836 shares in the company, valued at $3,494,910.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Blake Russell sold 10,000 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $52.38, for a total value of $523,800.00. Following the completion of the sale, the senior vice president now owns 27,861 shares in the company, valued at $1,459,359.18. The disclosure for this sale can be found here. 7.80% of the stock is owned by insiders.
Several large investors have recently bought and sold shares of NXST. Keeley Asset Management Corp purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $38,206,000. JPMorgan Chase & Co. increased its stake in Nexstar Broadcasting Group by 469.5% in the first quarter. JPMorgan Chase & Co. now owns 842,129 shares of the company’s stock worth $37,281,000 after buying an additional 694,256 shares in the last quarter. Yost Capital Management L.L.C. purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $22,283,000. Mesirow Financial Investment Management Equity Management purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $21,809,000. Finally, Tiger Legatus Capital Management LLC increased its stake 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 in 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.
Receive News & Stock 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 stocks with our FREE daily email newsletter.