Nexstar Broadcasting Group Inc. (NASDAQ:NXST)‘s stock had its “buy” rating reissued by stock analysts at Wells Fargo & Co. in a research note issued on Monday.

Several other equities research analysts also recently commented on NXST. Wedbush upped their price target on shares of Nexstar Broadcasting Group from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Wednesday, November 9th. Jefferies Group restated a “buy” rating on shares of Nexstar Broadcasting Group in a research report on Friday, August 5th. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 11th. Finally, Stephens set a $65.00 price target on shares of Nexstar Broadcasting Group and gave the company a “buy” rating in a research report on Wednesday, September 28th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $66.88.

Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 59.20 on Monday. Nexstar Broadcasting Group has a 12 month low of $34.65 and a 12 month high of $61.79. The stock has a market capitalization of $1.82 billion, a PE ratio of 19.07 and a beta of 2.17. The company’s 50-day moving average is $53.46 and its 200-day moving average is $52.22.

Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share for the quarter, missing the Zacks’ 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 return on equity of 64.45% and a net margin of 9.39%. The company’s quarterly revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities research analysts expect that Nexstar Broadcasting Group will post $3.34 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Stockholders of record on Friday, November 4th will be issued a dividend of $0.24 per share. The ex-dividend date is Wednesday, November 2nd. This represents a $0.96 dividend on an annualized basis and a dividend yield of 1.62%. Nexstar Broadcasting Group’s dividend payout ratio is currently 30.87%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Nexstar Broadcasting Group by 1.4% in the second quarter. Vanguard Group Inc. now owns 2,090,329 shares of the company’s stock worth $99,457,000 after buying an additional 28,291 shares in the last quarter. Brenner West Capital Advisors LLC increased its position in Nexstar Broadcasting Group by 9.4% in the second quarter. Brenner West Capital Advisors LLC now owns 1,116,899 shares of the company’s stock worth $53,142,000 after buying an additional 95,749 shares in the last quarter. Royal Bank of Canada increased its position in Nexstar Broadcasting Group by 15.0% in the second quarter. Royal Bank of Canada now owns 1,089,500 shares of the company’s stock worth $51,838,000 after buying an additional 142,373 shares in the last quarter. Scopus Asset Management L.P. acquired a new position in Nexstar Broadcasting Group during the third quarter worth $60,921,000. Finally, Tiger Legatus Capital Management LLC increased its position 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.

5 Day Chart for NASDAQ:NXST

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.