Nexstar Broadcasting Group Inc. (NXST) PT Raised to $70.00 at Barrington Research
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) had its price objective boosted by Barrington Research from $65.00 to $70.00 in a report released on Monday. The firm presently has an “outperform” rating on the stock. Barrington Research’s price target points to a potential upside of 18.24% from the company’s previous close.
Other equities analysts have also recently issued research reports about the company. Wells Fargo & Co. reiterated a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. Wedbush increased their price objective on shares of Nexstar Broadcasting Group from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 9th. Jefferies Group restated a “buy” rating on shares of Nexstar Broadcasting Group in a research note on Friday, August 5th. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 21st. Finally, Stephens set a $65.00 price objective on shares of Nexstar Broadcasting Group and gave the stock a “buy” rating in a research note on Wednesday, September 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $66.88.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 59.20 on Monday. The firm has a market cap of $1.82 billion, a PE ratio of 19.07 and a beta of 2.17. The company’s 50-day moving average price is $53.46 and its 200-day moving average price is $52.22. Nexstar Broadcasting Group has a 52-week low of $34.65 and a 52-week high of $61.79.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.07. The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $62.05 million. Nexstar Broadcasting Group had a return on equity of 64.45% and a net margin of 9.39%. Nexstar Broadcasting Group’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter last year, the company posted $0.54 EPS. Equities analysts expect that Nexstar Broadcasting Group will post $3.34 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be given a dividend of $0.24 per share. The ex-dividend date of this dividend is Wednesday, November 2nd. This represents a $0.96 annualized dividend and a yield of 1.62%. Nexstar Broadcasting Group’s payout ratio is currently 30.87%.
A number of large investors have recently made changes to their positions in the stock. HG Vora Capital Management LLC purchased a new stake in shares of Nexstar Broadcasting Group during the third quarter valued at $28,855,000. Tributary Capital Management LLC boosted its stake in Nexstar Broadcasting Group by 25.0% in the third quarter. Tributary Capital Management LLC now owns 181,191 shares of the company’s stock valued at $10,457,000 after buying an additional 36,267 shares in the last quarter. Scopus Asset Management L.P. bought a new stake in Nexstar Broadcasting Group during the third quarter valued at approximately $60,921,000. Panagora Asset Management Inc. boosted its stake in Nexstar Broadcasting Group by 595.9% in the third quarter. Panagora Asset Management Inc. now owns 15,574 shares of the company’s stock valued at $899,000 after buying an additional 13,336 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Nexstar Broadcasting Group during the third quarter valued at approximately $7,214,000.
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.
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