Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Equities researchers at Jefferies Group dropped their Q3 2017 earnings estimates for shares of Nexstar Broadcasting Group in a note issued to investors on Thursday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings of $0.95 per share for the quarter, down from their prior estimate of $1.09. Jefferies Group also issued estimates for Nexstar Broadcasting Group’s FY2017 earnings at $3.88 EPS, Q3 2018 earnings at $1.46 EPS, FY2018 earnings at $6.56 EPS and FY2019 earnings at $6.02 EPS.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted its earnings results on Tuesday, May 9th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of ($0.27) by $0.71. Nexstar Broadcasting Group had a net margin of 5.47% and a return on equity of 24.33%. The business had revenue of $540.32 million for the quarter, compared to the consensus estimate of $525.76 million. During the same period last year, the company earned $0.69 EPS. The firm’s revenue was up 111.3% compared to the same quarter last year. COPYRIGHT VIOLATION WARNING: “Q3 2017 EPS Estimates for Nexstar Broadcasting Group, Inc. (NXST) Lowered by Jefferies Group” was originally posted by American Banking News and is the property of of American Banking News. If you are reading this article on another domain, it was illegally copied and republished in violation of United States and international copyright law. The legal version of this article can be accessed at https://www.americanbankingnews.com/2017/07/17/q3-2017-eps-estimates-for-nexstar-broadcasting-group-inc-nxst-lowered-by-jefferies-group.html.

A number of other brokerages have also recently commented on NXST. ValuEngine cut shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Royal Bank Of Canada reiterated a “buy” rating and set a $83.00 price target on shares of Nexstar Broadcasting Group in a research report on Thursday, July 6th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $72.00 price target on the stock in a research report on Friday, May 5th. Wells Fargo & Company reiterated an “outperform” rating and set a $85.00 price target on shares of Nexstar Broadcasting Group in a research report on Friday. Finally, BidaskClub upgraded shares of Nexstar Broadcasting Group from a “strong sell” rating to a “sell” rating in a research report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $78.00.

Shares of Nexstar Broadcasting Group (NXST) opened at 63.15 on Monday. The company’s 50-day moving average is $59.32 and its 200 day moving average is $64.63. Nexstar Broadcasting Group has a 52-week low of $47.00 and a 52-week high of $73.90. The firm has a market capitalization of $2.98 billion, a P/E ratio of 29.33 and a beta of 2.30.

In other news, Director John R. Muse sold 700 shares of the firm’s stock in a transaction that occurred on Thursday, April 20th. The shares were sold at an average price of $70.01, for a total value of $49,007.00. Following the transaction, the director now owns 7,400 shares in the company, valued at $518,074. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John R. Muse sold 38,631 shares of the firm’s stock in a transaction that occurred on Thursday, April 27th. The stock was sold at an average price of $70.10, for a total transaction of $2,708,033.10. Following the completion of the transaction, the director now owns 7,141 shares in the company, valued at approximately $500,584.10. The disclosure for this sale can be found here. Insiders sold 39,631 shares of company stock worth $2,778,049 in the last 90 days. Company insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter valued at about $2,707,000. Norges Bank purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter valued at about $17,068,000. Guggenheim Capital LLC purchased a new position in shares of Nexstar Broadcasting Group during the fourth quarter valued at about $319,000. Muse John R purchased a new position in shares of Nexstar Broadcasting Group during the first quarter valued at about $70,119,000. Finally, Peregrine Capital Management LLC purchased a new position in shares of Nexstar Broadcasting Group during the first quarter valued at about $15,809,000.

About Nexstar Broadcasting Group

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.

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

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