Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Director John R. Muse sold 193 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $60.33, for a total transaction of $11,643.69. Following the completion of the transaction, the director now owns 6,857 shares in the company, valued at $413,682.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Nexstar Broadcasting Group, Inc. (NXST) traded up 0.42% during midday trading on Friday, reaching $59.50. 678,248 shares of the company’s stock traded hands. The firm has a market cap of $2.75 billion, a price-to-earnings ratio of 24.48 and a beta of 2.27. Nexstar Broadcasting Group, Inc. has a 1-year low of $47.00 and a 1-year high of $73.90. The stock’s 50 day moving average price is $61.21 and its 200 day moving average price is $63.34.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.01. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The firm had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. During the same period in the previous year, the firm posted $0.78 EPS. The company’s revenue for the quarter was up 139.0% compared to the same quarter last year. Equities research analysts anticipate that Nexstar Broadcasting Group, Inc. will post $3.57 EPS for the current year.
Nexstar Broadcasting Group announced that its board has authorized a share buyback program on Monday, June 12th that allows the company to buyback $51.30 million in outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Friday, August 11th were issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date was Wednesday, August 9th. Nexstar Broadcasting Group’s payout ratio is 48.78%.
TRADEMARK VIOLATION WARNING: This piece of content was reported by Markets Daily and is the property of of Markets Daily. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international trademark and copyright laws. The correct version of this piece of content can be viewed at https://www.themarketsdaily.com/2017/09/23/nexstar-broadcasting-group-inc-nxst-director-john-r-muse-sells-193-shares-of-stock.html.
A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Thompson Siegel & Walmsley LLC bought a new stake in Nexstar Broadcasting Group during the 2nd quarter worth approximately $125,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Nexstar Broadcasting Group by 98.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after acquiring an additional 901 shares during the last quarter. Blueport Capital L.P. bought a new stake in Nexstar Broadcasting Group during the 1st quarter worth approximately $140,000. Bronfman E.L. Rothschild L.P. bought a new stake in Nexstar Broadcasting Group during the 2nd quarter worth approximately $145,000. Finally, Invictus RG bought a new stake in Nexstar Broadcasting Group during the 1st quarter worth approximately $149,000.
Several equities analysts recently weighed in on the stock. Royal Bank Of Canada restated an “outperform” rating and issued a $81.00 price objective (down from $83.00) on shares of Nexstar Broadcasting Group in a report on Thursday, August 10th. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Wells Fargo & Company restated an “outperform” rating and issued a $85.00 price objective on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Finally, ValuEngine lowered shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $77.00.
About Nexstar Broadcasting Group
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.
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.