Zacks: Analysts Anticipate Nexstar Media Group Inc (NASDAQ:NXST) Will Announce Earnings of $3.31 Per Share

Analysts predict that Nexstar Media Group Inc (NASDAQ:NXST) will announce earnings per share (EPS) of $3.31 for the current quarter, according to Zacks. Two analysts have made estimates for Nexstar Media Group’s earnings. The lowest EPS estimate is $2.37 and the highest is $4.25. Nexstar Media Group posted earnings per share of $3.55 during the same quarter last year, which indicates a negative year-over-year growth rate of 6.8%. The company is scheduled to report its next quarterly earnings results on Tuesday, February 25th.

According to Zacks, analysts expect that Nexstar Media Group will report full-year earnings of $5.79 per share for the current fiscal year, with EPS estimates ranging from $4.86 to $6.76. For the next fiscal year, analysts expect that the company will report earnings of $18.04 per share, with EPS estimates ranging from $17.30 to $18.65. Zacks’ earnings per share calculations are an average based on a survey of sell-side analysts that cover Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.85) earnings per share for the quarter, missing analysts’ consensus estimates of $1.51 by ($2.36). The company had revenue of $663.60 million during the quarter, compared to analyst estimates of $644.00 million. Nexstar Media Group had a net margin of 9.87% and a return on equity of 16.74%. The business’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.12 EPS.

NXST has been the topic of a number of recent research reports. Barrington Research reaffirmed a “buy” rating and issued a $155.00 price objective on shares of Nexstar Media Group in a research note on Tuesday, November 12th. B. Riley reaffirmed a “buy” rating and issued a $140.00 price objective on shares of Nexstar Media Group in a research note on Wednesday, November 20th. Wells Fargo & Co initiated coverage on shares of Nexstar Media Group in a research note on Monday, September 23rd. They issued a “market perform” rating and a $113.00 price objective on the stock. Benchmark raised their price objective on shares of Nexstar Media Group from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. Finally, Stephens set a $150.00 price objective on shares of Nexstar Media Group and gave the company a “buy” rating in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Nexstar Media Group presently has a consensus rating of “Buy” and a consensus price target of $131.25.

NXST stock traded down $0.52 during midday trading on Tuesday, reaching $107.69. The company’s stock had a trading volume of 422,850 shares, compared to its average volume of 406,571. Nexstar Media Group has a 52 week low of $70.53 and a 52 week high of $119.93. The stock has a market cap of $4.99 billion, a PE ratio of 16.01, a price-to-earnings-growth ratio of 1.65 and a beta of 1.44. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 4.30. The business’s 50-day simple moving average is $104.09 and its 200-day simple moving average is $101.50.

The company also recently declared a quarterly dividend, which was paid on Friday, November 22nd. Stockholders of record on Friday, November 8th were given a dividend of $0.45 per share. The ex-dividend date was Thursday, November 7th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 1.67%. Nexstar Media Group’s dividend payout ratio is 21.08%.

In other news, Director Charles Thomas Mcmillen sold 625 shares of Nexstar Media Group 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 transaction, the director now directly owns 3,750 shares of the company’s stock, valued at $399,562.50. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas Carter sold 22,500 shares of Nexstar Media Group stock in a transaction on Monday, November 25th. The stock was sold at an average price of $108.03, for a total transaction of $2,430,675.00. Following the transaction, the chief financial officer now directly owns 120,689 shares in the company, valued at $13,038,032.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 36,288 shares of company stock worth $3,928,976. Insiders own 6.40% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Boston Advisors LLC boosted its position in shares of Nexstar Media Group by 4.9% during the third quarter. Boston Advisors LLC now owns 70,876 shares of the company’s stock worth $7,251,000 after purchasing an additional 3,338 shares in the last quarter. Janus Henderson Group PLC bought a new stake in Nexstar Media Group in the 2nd quarter valued at $203,000. California Public Employees Retirement System lifted its position in Nexstar Media Group by 56.1% in the 3rd quarter. California Public Employees Retirement System now owns 116,851 shares of the company’s stock valued at $11,955,000 after acquiring an additional 42,016 shares in the last quarter. Macquarie Group Ltd. lifted its position in Nexstar Media Group by 4.3% in the 2nd quarter. Macquarie Group Ltd. now owns 261,418 shares of the company’s stock valued at $26,403,000 after acquiring an additional 10,709 shares in the last quarter. Finally, Boston Partners lifted its position in Nexstar Media Group by 81.3% in the 2nd quarter. Boston Partners now owns 295,463 shares of the company’s stock valued at $29,842,000 after acquiring an additional 132,513 shares in the last quarter.

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

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