Q1 2017 EPS Estimates for Nexstar Broadcasting Group Inc. (NXST) Reduced by Analyst
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) – Analysts at Barrington Research lowered their Q1 2017 EPS estimates for Nexstar Broadcasting Group in a note issued to investors on Monday. Barrington Research analyst J. Goss now anticipates that the brokerage will earn $0.60 per share for the quarter, down from their prior estimate of $0.61. Barrington Research also issued estimates for Nexstar Broadcasting Group’s Q3 2017 earnings at $0.49 EPS.
A number of other analysts have also commented on NXST. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “hold” rating to a “strong-buy” rating and set a $54.00 price target on the stock in a report on Wednesday, July 6th. Wells Fargo & Co. restated a “positive” rating and issued a $66.00 price target on shares of Nexstar Broadcasting Group in a report on Monday, July 18th. Jefferies Group reaffirmed a “buy” rating on shares of Nexstar Broadcasting Group in a research report on Friday, August 5th. Finally, Stephens set a $65.00 target price on Nexstar Broadcasting Group and gave the company a “buy” rating in a research report on Wednesday, September 28th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $67.75.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 0.21% during mid-day trading on Tuesday, hitting $52.25. The company’s stock had a trading volume of 262,735 shares. The company has a 50-day moving average of $54.53 and a 200 day moving average of $51.74. Nexstar Broadcasting Group has a 1-year low of $34.65 and a 1-year high of $61.79. The company has a market cap of $1.60 billion, a price-to-earnings ratio of 18.32 and a beta of 2.30.
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Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.78 EPS for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The firm earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. During the same quarter in the prior year, the business posted $0.63 EPS. Nexstar Broadcasting Group’s revenue was up 19.4% compared to the same quarter last year.
A number of institutional investors have recently made changes to their positions in NXST. BNP Paribas Arbitrage SA increased its position in shares of Nexstar Broadcasting Group by 110.3% in the third quarter. BNP Paribas Arbitrage SA now owns 2,454 shares of the company’s stock worth $142,000 after buying an additional 1,287 shares during the period. BlackRock Inc. increased its position in shares of Nexstar Broadcasting Group by 72.4% in the second quarter. BlackRock Inc. now owns 3,609 shares of the company’s stock worth $172,000 after buying an additional 1,516 shares during the period. Teacher Retirement System of Texas increased its position in shares of Nexstar Broadcasting Group by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 4,285 shares of the company’s stock worth $204,000 after buying an additional 518 shares during the period. Cantab Capital Partners LLP increased its position in shares of Nexstar Broadcasting Group by 1,080.4% in the second quarter. Cantab Capital Partners LLP now owns 5,300 shares of the company’s stock worth $252,000 after buying an additional 4,851 shares during the period. Finally, Fox Run Management L.L.C. acquired a new position in shares of Nexstar Broadcasting Group during the second quarter worth $281,000.
In other Nexstar Broadcasting Group news, SVP Blake Russell sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $52.38, for a total transaction of $523,800.00. Following the transaction, the senior vice president now owns 27,861 shares of the company’s stock, valued at $1,459,359.18. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Thomas Carter sold 1,236 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $51.52, for a total value of $63,678.72. Following the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $3,494,910.72. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.
Nexstar Broadcasting Group Company Profile
Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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