Equities research analysts expect that Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) will report $1.49 earnings per share for the current quarter, Zacks Investment Research reports. Five analysts have made estimates for Nexstar Broadcasting Group’s earnings, with the highest EPS estimate coming in at $1.73 and the lowest estimate coming in at $1.29. Nexstar Broadcasting Group reported earnings of $1.46 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.1%. The firm is expected to announce its next earnings report on Tuesday, February 27th.
On average, analysts expect that Nexstar Broadcasting Group will report full year earnings of $3.51 per share for the current fiscal year, with EPS estimates ranging from $3.34 to $3.79. For the next year, analysts anticipate that the firm will post earnings of $7.59 per share, with EPS estimates ranging from $6.65 to $8.10. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Nexstar Broadcasting Group.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million during the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. Nexstar Broadcasting Group’s revenue was up 122.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.78 earnings per share.
Several brokerages recently issued reports on NXST. BidaskClub cut Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Zacks Investment Research raised Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. FBR & Co began coverage on Nexstar Broadcasting Group in a report on Tuesday, October 31st. They set a “buy” rating and a $79.00 price objective for the company. B. Riley lifted their price objective on Nexstar Broadcasting Group from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $81.00 price objective on shares of Nexstar Broadcasting Group in a report on Monday, September 18th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $80.91.
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Nexstar Broadcasting Group (NASDAQ:NXST) opened at $65.65 on Friday. The stock has a market capitalization of $3,016.48, a price-to-earnings ratio of 17.38, a P/E/G ratio of 1.46 and a beta of 2.24. Nexstar Broadcasting Group has a 1-year low of $55.00 and a 1-year high of $73.90. The company has a current ratio of 1.35, a quick ratio of 1.36 and a debt-to-equity ratio of 3.58.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is 45.11%.
In other news, Director John R. Muse sold 641,240 shares of the business’s stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total value of $38,538,524.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gary Michael Vaughn sold 5,050 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $61.35, for a total value of $309,817.50. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at $613,500. The disclosure for this sale can be found here. Over the last three months, insiders sold 970,307 shares of company stock valued at $58,146,660. Insiders own 7.80% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Thompson Siegel & Walmsley LLC acquired a new position in Nexstar Broadcasting Group in the second quarter valued at $125,000. Bronfman E.L. Rothschild L.P. acquired a new position in Nexstar Broadcasting Group in the second quarter valued at $145,000. Victory Capital Management Inc. acquired a new position in Nexstar Broadcasting Group in the third quarter valued at $172,000. SG Americas Securities LLC increased its stake in Nexstar Broadcasting Group by 29.8% in the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after purchasing an additional 785 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its stake in Nexstar Broadcasting Group by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock valued at $214,000 after purchasing an additional 99 shares during the last quarter.
Nexstar Broadcasting Group Company Profile
Nexstar Media Group, Inc, formerly Nexstar Broadcasting Group, Inc, is a television broadcasting and digital media company. The Company is focused on the acquisition, development and operation of television stations and interactive community Websites, and digital media services in medium-sized markets in the United States.
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