Trade-Ideas LLC identified

Nexstar Broadcasting Group

(

NXST

) as a strong on high relative volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Nexstar Broadcasting Group as such a stock due to the following factors:

  • NXST has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $15.2 million.
  • NXST has traded 71,833 shares today.
  • NXST is trading at 4.95 times the normal volume for the stock at this time of day.
  • NXST is trading at a new high 4.04% above yesterday's close.

'Strong on High Relative Volume' stocks are worth watching because major volume moves tend to indicate underlying activity such as M&A events, material stock news, analyst upgrades, insider buying, buying from 'superinvestors,' or that hedge funds and momentum traders are piling into a stock ahead of a catalyst. Regardless of the impetus behind the price and volume action, when a stock moves with strength and volume it can indicate the start of a new trend on which early investors can capitalize. In the event of a well-timed trading opportunity, combining technical indicators with fundamental trends and a disciplined trading methodology should help you take the first steps towards investment success.

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More details on NXST:

Nexstar Broadcasting Group, Inc. operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The stock currently has a dividend yield of 1.7%. NXST has a PE ratio of 18. Currently there are 3 analysts that rate Nexstar Broadcasting Group a buy, no analysts rate it a sell, and 1 rates it a hold.

The average volume for Nexstar Broadcasting Group has been 378,700 shares per day over the past 30 days. Nexstar Broadcasting Group has a market cap of $1.4 billion and is part of the services sector and media industry. The stock has a beta of 2.56 and a short float of 10.9% with 8.94 days to cover. Shares are down 14% year-to-date as of the close of trading on Friday.

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TheStreetRatings.com

Analysis:

TheStreet Quant Ratings

rates Nexstar Broadcasting Group as a

buy

. The company's strengths can be seen in multiple areas, such as its robust revenue growth, solid stock price performance, impressive record of earnings per share growth, compelling growth in net income and good cash flow from operations. We feel its strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.

Highlights from the ratings report include:

  • NXST's very impressive revenue growth greatly exceeded the industry average of 6.4%. Since the same quarter one year prior, revenues leaped by 50.6%. Growth in the company's revenue appears to have helped boost the earnings per share.
  • Looking at where the stock is today compared to one year ago, we find that it is not only higher, but it has also clearly outperformed the rise in the S&P 500 over the same period. Although other factors naturally played a role, the company's strong earnings growth was key. Looking ahead, unless broad bear market conditions prevail, we still see more upside potential for this stock, despite the fact that it has already risen over the past year.
  • NEXSTAR BROADCASTING GROUP reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past year. We feel that this trend should continue. During the past fiscal year, NEXSTAR BROADCASTING GROUP turned its bottom line around by earning $2.01 versus -$0.08 in the prior year. This year, the market expects an improvement in earnings ($2.61 versus $2.01).
  • The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Media industry. The net income increased by 85.7% when compared to the same quarter one year prior, rising from $10.94 million to $20.32 million.
  • Net operating cash flow has slightly increased to $30.97 million or 7.94% when compared to the same quarter last year. In addition, NEXSTAR BROADCASTING GROUP has also modestly surpassed the industry average cash flow growth rate of 7.42%.

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