Zacks: Analysts Expect Nexstar Media Group Inc (NXST) Will Post Earnings of $1.72 Per Share

Wall Street analysts predict that Nexstar Media Group Inc (NASDAQ:NXST) will post $1.72 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Five analysts have made estimates for Nexstar Media Group’s earnings. The lowest EPS estimate is $1.61 and the highest is $1.80. Nexstar Media Group posted earnings per share of $0.93 in the same quarter last year, which would indicate a positive year-over-year growth rate of 84.9%. The business is scheduled to issue its next earnings results before the market opens on Wednesday, August 8th.

On average, analysts expect that Nexstar Media Group will report full-year earnings of $8.09 per share for the current year, with EPS estimates ranging from $7.73 to $8.30. For the next financial year, analysts expect that the business will post earnings of $6.82 per share, with EPS estimates ranging from $6.18 to $7.22. Zacks Investment Research’s EPS averages are a mean average based on a survey of research analysts that that provide coverage for Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Wednesday, May 9th. The company reported $1.01 earnings per share for the quarter, missing analysts’ consensus estimates of $1.12 by ($0.11). Nexstar Media Group had a net margin of 20.63% and a return on equity of 15.56%. The business had revenue of $615.34 million during the quarter, compared to analysts’ expectations of $612.37 million. During the same quarter in the prior year, the firm posted $0.13 earnings per share. The firm’s quarterly revenue was up 13.9% on a year-over-year basis.

NXST has been the subject of a number of recent research reports. ValuEngine upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Wednesday, July 11th. BidaskClub upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Tuesday, July 10th. B. Riley reduced their price objective on shares of Nexstar Media Group to $87.00 and set a “buy” rating for the company in a research note on Monday, May 21st. Benchmark reiterated a “buy” rating and issued a $94.00 price objective on shares of Nexstar Media Group in a research note on Thursday, May 10th. Finally, Barrington Research reiterated a “buy” rating and issued a $105.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, May 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $89.50.

In other news, insider Douglas Davis sold 1,875 shares of the business’s stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $77.41, for a total transaction of $145,143.75. Following the completion of the transaction, the insider now directly owns 683 shares in the company, valued at approximately $52,871.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Brian Jones sold 2,238 shares of the business’s stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $76.03, for a total transaction of $170,155.14. Following the transaction, the insider now owns 10,500 shares of the company’s stock, valued at $798,315. The disclosure for this sale can be found here. Insiders have sold a total of 7,601 shares of company stock valued at $557,475 over the last 90 days. Company insiders own 6.40% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. grew its position in shares of Nexstar Media Group by 100.0% during the 2nd quarter. Hodges Capital Management Inc. now owns 30,000 shares of the company’s stock valued at $2,202,000 after purchasing an additional 15,000 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Nexstar Media Group by 17.1% during the 2nd quarter. Alps Advisors Inc. now owns 8,001 shares of the company’s stock worth $626,000 after acquiring an additional 1,168 shares during the last quarter. Penn Capital Management Co. Inc. lifted its holdings in shares of Nexstar Media Group by 8.3% during the 2nd quarter. Penn Capital Management Co. Inc. now owns 296,233 shares of the company’s stock worth $21,933,000 after acquiring an additional 22,577 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of Nexstar Media Group by 310.4% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 77,940 shares of the company’s stock worth $5,721,000 after acquiring an additional 58,951 shares during the last quarter. Finally, Tributary Capital Management LLC lifted its holdings in shares of Nexstar Media Group by 11.7% during the 2nd quarter. Tributary Capital Management LLC now owns 303,287 shares of the company’s stock worth $22,261,000 after acquiring an additional 31,703 shares during the last quarter.

Nexstar Media Group stock traded down $3.12 during mid-day trading on Friday, reaching $74.03. The company’s stock had a trading volume of 574,968 shares, compared to its average volume of 652,702. Nexstar Media Group has a 12-month low of $56.65 and a 12-month high of $89.75. The firm has a market capitalization of $3.54 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.60 and a beta of 1.85. The company has a current ratio of 1.46, a quick ratio of 1.46 and a debt-to-equity ratio of 2.68.

Nexstar Media Group Company Profile

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

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Earnings History and Estimates for Nexstar Media Group (NASDAQ:NXST)

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