It’s been an incredible June for a broadcast TV station company with its roots in the Scranton-Wilkes Barre market.
Nexstar Media Group‘s shares have soared by more than $10 a share since June 5. If the growth continues, a new all-time high could be seen in a matter of days.
With Tuesday’s close, NXST shares are now at $76.35, rising $1 from Monday. On June 5, Nexstar shares sat at $66.05, a tiny dip following a small recovery from a year-to-date low of $61.20 seen on May 3.
As any long-term investor in Nexstar will explain, the May dip is only natural, and a part of the company’s long-term dip-and-gain pattern that led the company founded by Perry Sook some 25 years ago to an $81.75 close on January 15.
Surpassing that now seems within the short-term realm of possibility, a sign that financial analysts know where the company is headed.
Nexstar has a 1-year target estimate of $89.50.
It traded ex-Dividend on May 10.
Now, fresh off an appearance at the 10th annual Gabelli & Company annual Entertainment & Broadcasting Conference in New York on June 7 and with its Q2 earnings call already set for August 8, Sook could be on the verge of another new peak on Wall Street.