Equities research analysts expect that Nexstar Media Group Inc (NASDAQ:NXST) will report sales of $905.85 million for the current quarter, Zacks reports. Two analysts have made estimates for Nexstar Media Group’s earnings. The highest sales estimate is $916.00 million and the lowest is $895.70 million. Nexstar Media Group posted sales of $649.01 million in the same quarter last year, which suggests a positive year over year growth rate of 39.6%. The firm is expected to report its next earnings report before the market opens on Wednesday, August 5th.
According to Zacks, analysts expect that Nexstar Media Group will report full year sales of $4.35 billion for the current fiscal year, with estimates ranging from $4.26 billion to $4.40 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.32 billion, with estimates ranging from $4.27 billion to $4.38 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, May 6th. The company reported $3.30 EPS for the quarter, topping analysts’ consensus estimates of $2.73 by $0.57. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Nexstar Media Group had a net margin of 9.48% and a return on equity of 18.14%. The firm’s revenue was up 74.2% compared to the same quarter last year. During the same quarter last year, the company earned $1.15 EPS.
Several equities analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $97.00 price target on the stock in a research report on Tuesday, June 23rd. ValuEngine downgraded shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. Benchmark increased their price objective on shares of Nexstar Media Group from $120.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, June 22nd. Barrington Research restated a “buy” rating and set a $115.00 price objective on shares of Nexstar Media Group in a research report on Wednesday, May 13th. Finally, TheStreet raised shares of Nexstar Media Group from a “c+” rating to a “b-” rating in a report on Thursday, June 4th. Two research analysts have rated the stock with a sell rating and eight have given a buy rating to the stock. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus price target of $112.13.
Shares of NXST stock traded down $1.31 during mid-day trading on Friday, reaching $84.59. The stock had a trading volume of 1,494 shares, compared to its average volume of 468,850. The stock’s 50-day moving average price is $85.30 and its two-hundred day moving average price is $92.89. Nexstar Media Group has a 52-week low of $43.37 and a 52-week high of $133.25. The firm has a market capitalization of $3.82 billion, a PE ratio of 12.08, a price-to-earnings-growth ratio of 0.63 and a beta of 1.88. The company has a current ratio of 1.65, a quick ratio of 1.65 and a debt-to-equity ratio of 3.78.
In other Nexstar Media Group news, Director Dennis Miller sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $100.57, for a total transaction of $100,570.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles Thomas Mcmillen sold 2,500 shares of Nexstar Media Group stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $100.00, for a total transaction of $250,000.00. Following the sale, the director now owns 2,875 shares of the company’s stock, valued at $287,500. The disclosure for this sale can be found here. Insiders sold a total of 12,657 shares of company stock valued at $1,164,589 over the last quarter. 6.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Credit Suisse AG lifted its stake in Nexstar Media Group by 16.6% during the 4th quarter. Credit Suisse AG now owns 48,480 shares of the company’s stock valued at $5,684,000 after acquiring an additional 6,918 shares during the period. Colony Group LLC lifted its stake in Nexstar Media Group by 4.2% during the 1st quarter. Colony Group LLC now owns 46,859 shares of the company’s stock valued at $2,705,000 after acquiring an additional 1,887 shares during the period. ArrowMark Colorado Holdings LLC acquired a new stake in Nexstar Media Group during the 4th quarter valued at approximately $3,518,000. Maverick Capital Ltd. lifted its stake in Nexstar Media Group by 43.4% during the 1st quarter. Maverick Capital Ltd. now owns 19,759 shares of the company’s stock valued at $1,141,000 after acquiring an additional 5,978 shares during the period. Finally, MML Investors Services LLC lifted its stake in Nexstar Media Group by 8.1% during the 1st quarter. MML Investors Services LLC now owns 4,476 shares of the company’s stock valued at $258,000 after acquiring an additional 334 shares during the period.
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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