BidaskClub upgraded shares of Nexstar Broadcasting Group (NASDAQ:NXST) from a hold rating to a buy rating in a report issued on Thursday morning.

Other equities research analysts have also recently issued reports about the company. FBR & Co assumed coverage on Nexstar Broadcasting Group in a research note on Tuesday, October 31st. They issued a buy rating and a $79.00 target price for the company. Zacks Investment Research cut Nexstar Broadcasting Group from a buy rating to a hold rating in a research note on Tuesday, October 24th. Royal Bank Of Canada reissued a buy rating and issued a $81.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, September 18th. Jefferies Group reissued a buy rating and issued a $80.00 target price on shares of Nexstar Broadcasting Group in a research note on Thursday, September 21st. Finally, B. Riley lifted their target price on Nexstar Broadcasting Group from $79.00 to $84.00 and gave the company a buy rating in a research note on Tuesday, November 7th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $82.00.

Nexstar Broadcasting Group (NASDAQ:NXST) traded up $0.35 during mid-day trading on Thursday, reaching $72.25. The company had a trading volume of 531,834 shares, compared to its average volume of 715,930. Nexstar Broadcasting Group has a 12-month low of $55.95 and a 12-month high of $73.90. The firm has a market cap of $3,244.31, a PE ratio of 18.69, a price-to-earnings-growth ratio of 1.60 and a beta of 2.21. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35.

Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. The company had revenue of $611.87 million during the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The business’s revenue for the quarter was up 122.0% on a year-over-year basis. During the same period last year, the firm earned $0.78 EPS. equities research analysts forecast that Nexstar Broadcasting Group will post 3.45 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 17th were given a $0.30 dividend. The ex-dividend date was Thursday, November 16th. This represents a $1.20 annualized dividend and a dividend yield of 1.66%. Nexstar Broadcasting Group’s dividend payout ratio is currently 45.11%.

In other news, insider Gary Michael Vaughn sold 400 shares of the firm’s stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total value of $28,528.00. Following the transaction, the insider now directly owns 7,140 shares in the company, valued at approximately $509,224.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Elizabeth Ryder sold 3,000 shares of the firm’s stock in a transaction on Friday, November 17th. The stock was sold at an average price of $65.87, for a total value of $197,610.00. Following the completion of the transaction, the executive vice president now owns 5,210 shares in the company, valued at $343,182.70. The disclosure for this sale can be found here. Insiders sold a total of 1,275,917 shares of company stock worth $78,359,404 over the last 90 days. 7.80% of the stock is owned by corporate insiders.

Hedge funds have recently bought and sold shares of the business. Thompson Siegel & Walmsley LLC bought a new position in Nexstar Broadcasting Group during the second quarter worth about $125,000. Bronfman E.L. Rothschild L.P. bought a new position in Nexstar Broadcasting Group during the second quarter worth about $145,000. Victory Capital Management Inc. bought a new position in Nexstar Broadcasting Group during the third quarter worth about $172,000. SG Americas Securities LLC lifted its holdings in Nexstar Broadcasting Group by 29.8% during the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after acquiring an additional 785 shares in the last quarter. Finally, Teacher Retirement System of Texas lifted its holdings in Nexstar Broadcasting Group by 2.8% during the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after acquiring an additional 99 shares in the last quarter.

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Nexstar Broadcasting Group Company Profile

Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, 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, and digital media services in medium-sized markets in the United States.

Analyst Recommendations for Nexstar Broadcasting Group (NASDAQ:NXST)

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