Nexstar Media Group Inc (NASDAQ:NXST) Expected to Post Quarterly Sales of $657.45 Million

Wall Street analysts forecast that Nexstar Media Group Inc (NASDAQ:NXST) will post sales of $657.45 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Nexstar Media Group’s earnings. The highest sales estimate is $660.90 million and the lowest is $654.00 million. Nexstar Media Group reported sales of $693.02 million in the same quarter last year, which would suggest a negative year-over-year growth rate of 5.1%. The company is expected to announce its next quarterly earnings results before the market opens on Wednesday, November 6th.

On average, analysts expect that Nexstar Media Group will report full-year sales of $2.64 billion for the current year, with estimates ranging from $2.62 billion to $2.66 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.11 billion, with estimates ranging from $3.09 billion to $3.13 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings data on Wednesday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.04. Nexstar Media Group had a return on equity of 21.05% and a net margin of 13.61%. The firm had revenue of $649.01 million for the quarter, compared to the consensus estimate of $653.00 million. During the same quarter in the prior year, the business earned $1.86 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year.

Several research analysts have issued reports on the company. Stephens set a $150.00 price objective on Nexstar Media Group and gave the stock a “buy” rating in a report on Friday, August 30th. BidaskClub downgraded Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Friday, September 27th. Barrington Research reaffirmed a “buy” rating and set a $135.00 price objective on shares of Nexstar Media Group in a report on Wednesday, August 7th. Evercore ISI reaffirmed a “buy” rating and set a $116.00 price objective on shares of Nexstar Media Group in a report on Thursday, August 8th. Finally, ValuEngine downgraded Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. Nexstar Media Group presently has an average rating of “Hold” and a consensus target price of $129.63.

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 625 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $106.55, for a total transaction of $66,593.75. Following the completion of the sale, the director now owns 3,750 shares in the company, valued at approximately $399,562.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.40% of the company’s stock.

Several institutional investors have recently modified their holdings of NXST. FNY Investment Advisers LLC bought a new stake in shares of Nexstar Media Group during the 2nd quarter valued at $80,000. Synovus Financial Corp increased its position in shares of Nexstar Media Group by 100.0% in the 2nd quarter. Synovus Financial Corp now owns 1,000 shares of the company’s stock valued at $101,000 after buying an additional 500 shares in the last quarter. DekaBank Deutsche Girozentrale bought a new stake in shares of Nexstar Media Group in the 2nd quarter valued at $116,000. Resources Investment Advisors LLC. bought a new stake in shares of Nexstar Media Group in the 2nd quarter valued at $119,000. Finally, Cerebellum GP LLC bought a new stake in shares of Nexstar Media Group in the 3rd quarter valued at $132,000. Institutional investors own 99.75% of the company’s stock.

NASDAQ:NXST traded up $4.17 during trading hours on Friday, hitting $99.49. 7,441 shares of the stock were exchanged, compared to its average volume of 458,258. The company’s 50 day moving average is $99.47 and its two-hundred day moving average is $104.08. Nexstar Media Group has a twelve month low of $70.09 and a twelve month high of $119.93. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 1.88. The company has a market capitalization of $4.37 billion, a P/E ratio of 11.66, a price-to-earnings-growth ratio of 1.54 and a beta of 1.48.

Nexstar Media Group Company Profile

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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