Nexxen International (NASDAQ:NEXN - Get Free Report) declared that its Board of Directors has authorized a stock buyback program on Wednesday, March 5th, RTT News reports. The company plans to buyback $50.00 million in shares. This buyback authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's board of directors believes its stock is undervalued.
Several research analysts recently commented on NEXN shares. Royal Bank of Canada increased their price objective on Nexxen International from $22.00 to $26.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC upped their target price on Nexxen International from $19.00 to $24.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Finally, JMP Securities restated a "market outperform" rating and issued a $22.00 target price on shares of Nexxen International in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $20.40.
View Our Latest Stock Analysis on Nexxen International
NEXN stock traded up $2.08 during mid-day trading on Wednesday, reaching $9.50. The company had a trading volume of 911,034 shares, compared to its average volume of 74,019. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.43 and a current ratio of 1.43. The company has a market capitalization of $612.99 million, a price-to-earnings ratio of 237.50 and a beta of 1.89. The firm has a fifty day simple moving average of $16.78 and a 200 day simple moving average of $16.84. Nexxen International has a fifty-two week low of $6.93 and a fifty-two week high of $21.88.
Nexxen International (NASDAQ:NEXN - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.13. Nexxen International had a return on equity of 7.49% and a net margin of 3.96%. Analysts forecast that Nexxen International will post 0.67 earnings per share for the current fiscal year.
Nexxen International Ltd. provides end-to-end software platform that enables advertisers to reach publishers Israel. The company's demand side platform (DSP) offers full-service and self-managed marketplace access to advertisers and agencies to execute their digital marketing campaigns in real time across various ad formats.
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