Barrington Research Analysts Raise Earnings Estimates for Nexstar Broadcasting Group Inc. (NXST)
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) – Equities researchers at Barrington Research boosted their Q1 2017 earnings per share (EPS) estimates for shares of Nexstar Broadcasting Group in a report released on Monday. Barrington Research analyst J. Goss now anticipates that the firm will post earnings of $0.62 per share for the quarter, up from their previous forecast of $0.60. Barrington Research currently has a “Outperform” rating and a $70.00 price target on the stock. Barrington Research also issued estimates for Nexstar Broadcasting Group’s Q3 2017 earnings at $0.76 EPS and Q4 2017 earnings at $0.79 EPS.
Several other analysts also recently weighed in on NXST. Zacks Investment Research downgraded Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Jefferies Group reiterated a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Stephens set a $65.00 price target on Nexstar Broadcasting Group and gave the company a “buy” rating in a research note on Wednesday, September 28th. Wedbush boosted their price target on Nexstar Broadcasting Group from $65.00 to $66.00 and gave the company an “outperform” rating in a research note on Wednesday, November 9th. Finally, Wells Fargo & Co. reiterated a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Monday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $66.88.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded down 0.34% during mid-day trading on Wednesday, reaching $59.00. The company had a trading volume of 242,409 shares. Nexstar Broadcasting Group has a 52 week low of $34.65 and a 52 week high of $61.79. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of 19.00 and a beta of 2.17. The stock has a 50 day moving average of $53.46 and a 200-day moving average of $52.22.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.85 by $0.07. The business had revenue of $275.70 million for the quarter, compared to the consensus estimate of $62.05 million. Nexstar Broadcasting Group had a net margin of 9.39% and a return on equity of 64.45%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Investors of record on Friday, November 4th will be issued a $0.24 dividend. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.96 dividend on an annualized basis and a yield of 1.62%. Nexstar Broadcasting Group’s payout ratio is 30.87%.
A number of institutional investors have recently added to or reduced their stakes in NXST. BNP Paribas Arbitrage SA boosted its position in Nexstar Broadcasting Group by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,454 shares of the company’s stock worth $142,000 after buying an additional 1,287 shares during the last quarter. BlackRock Inc. boosted its position in 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 during the last quarter. Teacher Retirement System of Texas boosted its position in 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 during the last quarter. SG Americas Securities LLC acquired a new position in Nexstar Broadcasting Group during the third quarter worth $281,000. Finally, Parametrica Management Ltd acquired a new position in Nexstar Broadcasting Group during the third quarter worth $304,000.
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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