Nexstar Broadcasting Group, Inc. (NXST) Given Consensus Recommendation of “Buy” by Brokerages

Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) has received a consensus recommendation of “Buy” from the twelve research firms that are currently covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $83.67.

Several brokerages have issued reports on NXST. BidaskClub downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. FBR & Co assumed coverage on shares of Nexstar Broadcasting Group in a research report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 price objective for the company. Zacks Investment Research lowered shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank Of Canada reissued a “buy” rating and issued a $81.00 price objective on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. Finally, Jefferies Group LLC reissued a “buy” rating and issued a $80.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st.

Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at $65.95 on Friday. Nexstar Broadcasting Group has a fifty-two week low of $55.95 and a fifty-two week high of $73.90. The stock has a market cap of $3,005.08, a PE ratio of 17.31, a price-to-earnings-growth ratio of 1.46 and a beta of 2.24. 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 announced its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a net margin of 5.60% and a return on equity of 16.20%. The company had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. During the same quarter in the prior year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 122.0% compared to the same quarter last year. equities research analysts expect that Nexstar Broadcasting Group will post 3.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend is Thursday, November 16th. Nexstar Broadcasting Group’s dividend payout ratio is presently 45.11%.

In related news, Director John R. Muse sold 641,240 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The shares were sold at an average price of $60.10, for a total transaction of $38,538,524.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Julie Pruett sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $60.01, for a total transaction of $180,030.00. Following the transaction, the insider now directly owns 11,985 shares of the company’s stock, valued at approximately $719,219.85. The disclosure for this sale can be found here. In the last three months, insiders sold 1,270,307 shares of company stock valued at $77,985,660. Company insiders own 7.80% of the company’s stock.

A number of hedge funds have recently modified their holdings of the stock. Neuberger Berman Group LLC increased its position in Nexstar Broadcasting Group by 3.8% during the third quarter. Neuberger Berman Group LLC now owns 3,390,284 shares of the company’s stock worth $211,215,000 after purchasing an additional 122,949 shares during the last quarter. Fairbanks Capital Management Inc. acquired a new position in Nexstar Broadcasting Group during the third quarter worth approximately $1,859,000. Cubist Systematic Strategies LLC increased its position in Nexstar Broadcasting Group by 443.4% during the third quarter. Cubist Systematic Strategies LLC now owns 24,672 shares of the company’s stock worth $1,537,000 after purchasing an additional 20,132 shares during the last quarter. Point72 Asset Management L.P. increased its position in Nexstar Broadcasting Group by 178.5% during the third quarter. Point72 Asset Management L.P. now owns 68,502 shares of the company’s stock worth $4,268,000 after purchasing an additional 43,902 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in Nexstar Broadcasting Group by 6.0% during the third quarter. Granahan Investment Management Inc. MA now owns 126,108 shares of the company’s stock worth $7,857,000 after purchasing an additional 7,145 shares during the last quarter.

COPYRIGHT VIOLATION WARNING: “Nexstar Broadcasting Group, Inc. (NXST) Given Consensus Recommendation of “Buy” by Brokerages” was first published by Sports Perspectives and is the property of of Sports Perspectives. If you are accessing this article on another site, it was illegally stolen and reposted in violation of United States and international copyright & trademark legislation. The correct version of this article can be accessed at https://sportsperspectives.com/2017/11/19/nexstar-broadcasting-group-inc-nxst-given-consensus-recommendation-of-buy-by-brokerages.html.

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)

Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply