Nexxen International (NASDAQ:NEXN) Announces Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Nexxen International (NASDAQ:NEXN) posted its earnings results on Thursday. The company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.02), Zacks reports. The company had revenue of $88.58 million during the quarter, compared to the consensus estimate of $85.75 million. Nexxen International had a negative net margin of 3.12% and a positive return on equity of 4.86%. During the same quarter in the previous year, the business posted $0.03 earnings per share. Nexxen International updated its FY 2024 guidance to EPS.

Nexxen International Price Performance

NEXN traded up $0.28 during trading on Friday, reaching $7.99. The stock had a trading volume of 58,205 shares, compared to its average volume of 62,653. The stock has a 50 day moving average of $6.47 and a two-hundred day moving average of $5.83. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $552.41 million, a price-to-earnings ratio of -61.46 and a beta of 1.84. Nexxen International has a 1-year low of $3.15 and a 1-year high of $8.00.

Wall Street Analysts Forecast Growth

NEXN has been the topic of several recent research reports. Royal Bank of Canada lifted their price objective on shares of Nexxen International from $9.00 to $11.00 and gave the company an “outperform” rating in a research report on Friday. Lake Street Capital boosted their price objective on Nexxen International from $7.00 to $9.00 and gave the stock a “buy” rating in a research report on Friday. Stifel Nicolaus increased their price objective on Nexxen International from $5.50 to $6.00 and gave the stock a “hold” rating in a report on Tuesday, May 21st. JMP Securities reiterated a “market outperform” rating and set a $11.00 price target on shares of Nexxen International in a research report on Friday, June 14th. Finally, Needham & Company LLC raised their price target on Nexxen International from $6.50 to $8.50 and gave the company a “buy” rating in a report on Friday. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.10.

About Nexxen International

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.