Zacks: Analysts Expect Nexstar Media Group Inc (NASDAQ:NXST) Will Post Earnings of $1.38 Per Share

Equities research analysts forecast that Nexstar Media Group Inc (NASDAQ:NXST) will post earnings of $1.38 per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Nexstar Media Group’s earnings, with estimates ranging from $1.26 to $1.49. Nexstar Media Group reported earnings per share of $1.86 in the same quarter last year, which indicates a negative year-over-year growth rate of 25.8%. The company is scheduled to issue its next earnings report on Wednesday, August 14th.

According to Zacks, analysts expect that Nexstar Media Group will report full year earnings of $6.59 per share for the current year, with EPS estimates ranging from $6.00 to $7.26. For the next financial year, analysts expect that the firm will report earnings of $11.24 per share, with EPS estimates ranging from $10.27 to $12.56. Zacks Investment Research’s EPS averages are an average based on a survey of analysts that cover Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing the consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The firm had revenue of $626.65 million for the quarter, compared to analyst estimates of $640.35 million. During the same period in the previous year, the firm posted $1.01 EPS. The company’s revenue was up 1.8% compared to the same quarter last year.

Several equities analysts have commented on the stock. BidaskClub upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Wednesday, February 13th. Benchmark reissued a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Nexstar Media Group in a report on Thursday, March 21st. B. Riley increased their price target on Nexstar Media Group from $123.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. ValuEngine raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Barrington Research reissued a “buy” rating and issued a $110.00 target price on shares of Nexstar Media Group in a report on Tuesday, February 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the company. Nexstar Media Group presently has a consensus rating of “Buy” and an average price target of $113.13.

In other news, EVP Blake Russell sold 3,000 shares of the company’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $107.28, for a total transaction of $321,840.00. Following the completion of the sale, the executive vice president now owns 26,350 shares in the company, valued at approximately $2,826,828. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Jones sold 35,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $108.31, for a total value of $3,790,850.00. Following the sale, the insider now owns 52,734 shares of the company’s stock, valued at approximately $5,711,619.54. The disclosure for this sale can be found here. Insiders have sold a total of 45,448 shares of company stock valued at $4,916,163 in the last quarter. 6.40% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in shares of Nexstar Media Group by 3.4% in the first quarter. FMR LLC now owns 2,555,664 shares of the company’s stock valued at $276,957,000 after acquiring an additional 84,786 shares during the last quarter. HighTower Advisors LLC boosted its holdings in shares of Nexstar Media Group by 10.8% during the first quarter. HighTower Advisors LLC now owns 129,870 shares of the company’s stock worth $14,078,000 after acquiring an additional 12,706 shares during the period. One Wealth Advisors LLC bought a new stake in shares of Nexstar Media Group in the first quarter valued at approximately $310,000. Man Group plc boosted its stake in shares of Nexstar Media Group by 24.9% in the first quarter. Man Group plc now owns 56,812 shares of the company’s stock valued at $6,157,000 after buying an additional 11,333 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in shares of Nexstar Media Group by 9.1% in the first quarter. Macquarie Group Ltd. now owns 250,709 shares of the company’s stock valued at $27,170,000 after buying an additional 20,916 shares during the period.

Shares of NXST opened at $99.13 on Monday. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. Nexstar Media Group has a 1 year low of $70.09 and a 1 year high of $119.93. The stock has a market cap of $4.53 billion, a PE ratio of 11.61, a price-to-earnings-growth ratio of 1.49 and a beta of 1.60.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Investors of record on Friday, May 10th were paid a dividend of $0.45 per share. The ex-dividend date was Thursday, May 9th. This represents a $1.80 dividend on an annualized basis and a yield of 1.82%. Nexstar Media Group’s payout ratio is currently 21.08%.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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