Nexstar Broadcasting Group (NXST) is Reiterated by The Benchmark Company to Buy, Raises Price Target to $ 70

Nexstar Broadcasting Group (NXST) was Reiterated by The Benchmark Company to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 70 from a previous price target of $66 . The Benchmark Company advised their investors in a research report released on Apr 18, 2016.

On the company’s financial health, Nexstar Broadcasting Group reported $0.86 EPS for the quarter, missing the analyst consensus estimate by $ -0.02 based on the information available during the earnings call on Feb 25, 2016. Analyst had a consensus of $0.88. The company had revenue of $252.26 million for the quarter, compared to analysts expectations of $244.71 million. The company’s revenue was up 30.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 EPS.

Nexstar Broadcasting Group closed down -0.29 points or -0.61% at $47.23 with 2,98,989 shares getting traded on Friday. Post opening the session at $47.37, the shares hit an intraday low of $46.92 and an intraday high of $47.69 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

In a different news, on Mar 2, 2016, Thomas Carter (CFO) purchased 1,000 shares at $44.55 per share price. According to the SEC, on Dec 11, 2015, Blake Russell (SVP, Station Operations) sold 7,000 shares at $57.80 per share price. On Sep 29, 2015, Julie Pruett (SVP and Regional Manager) sold 4,710 shares at $44.77 per share price, according to the Form-4 filing with the securities and exchange commission.

Nexstar Broadcasting Group Inc. is a television broadcasting and digital media company focused on the acquisition development and operation of television stations and interactive community Websites in medium-sized markets in the United States. As of December 31 2014 the Company owned operated programmed or provided sales and other services to 87 television stations and 26 digital multicast channels in 49 markets in the states of Illinois Indiana Maryland Missouri Montana Tennessee Texas Pennsylvania Louisiana Arkansas Alabama New York Florida Wisconsin Michigan Utah Vermont California Iowa Colorado and Virginia. The stations the Company owns and operates or provides services to provide free over-the-air programming to its markets’ television viewing audiences. This programming includes programs produced by networks with which the stations are affiliated; programs that the stations produce and first-run and rerun syndicated programs that the stations acquire.

Nexstar Broadcasting Group

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