The third quarter of 2018 is officially over Sunday, but most businesses are tallying up their final numbers this afternoon (9/28).
For Nexstar Media Group, Q3 is one for the record books — at least if one were to look solely at its performance on Nasdaq.
At the Closing Bell Friday, Nexstar shares climbed 70 cents, to $81.40.
This is welcome news for investors, as Nexstar shares have largely been over the $80 mark since August 20 — following a spike in mid-July that sent NXST as high as $84 before some investors cashed out, sending Nexstar down again.
But, the dip stopped at just above $73, setting the stage for yet another dip-before-growth scenario for the broadcast TV station owner.
As shown in the graphic courtesy of Yahoo! Finance below, Nexstar has repeated this across much of its recent history — with growth the resulting action.
With Nexstar’s 1-year target estimate at $89, it may be only a matter of weeks before that price is seen, and perhaps eclipsed.
Nexstar reports its Q3 results on November 8.