Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Investment analysts at Barrington Research raised their FY2019 earnings per share (EPS) estimates for shares of Nexstar Broadcasting Group in a report issued on Monday. Barrington Research analyst J. Goss now expects that the company will post earnings of $6.40 per share for the year, up from their prior forecast of $5.75.

Nexstar Broadcasting Group (NASDAQ:NXST) last released its earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $626.11 million for the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. Nexstar Broadcasting Group’s revenue was up 139.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. COPYRIGHT VIOLATION WARNING: “Barrington Research Research Analysts Lift Earnings Estimates for Nexstar Broadcasting Group, Inc. (NXST)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this news story on another website, it was illegally copied and reposted in violation of international copyright & trademark laws. The original version of this news story can be read at https://www.americanbankingnews.com/2017/08/17/barrington-research-research-analysts-lift-earnings-estimates-for-nexstar-broadcasting-group-inc-nxst.html.

Several other research firms have also weighed in on NXST. Royal Bank Of Canada reissued an “outperform” rating and issued a $81.00 target price (down previously from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday, August 10th. BidaskClub raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Friday, August 11th. Zacks Investment Research raised Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Tuesday, July 18th. Wells Fargo & Company reissued an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Finally, ValuEngine raised Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $77.75.

Shares of Nexstar Broadcasting Group (NASDAQ NXST) traded down 1.657% during trading on Thursday, reaching $60.825. The company had a trading volume of 1,229,900 shares. The firm has a market capitalization of $2.81 billion, a P/E ratio of 25.021 and a beta of 2.31. The company has a 50 day moving average of $62.90 and a 200-day moving average of $64.67. Nexstar Broadcasting Group has a 52-week low of $47.00 and a 52-week high of $73.90.

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.94%. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is currently 48.78%.

Nexstar Broadcasting Group declared that its board has initiated a share buyback program on Monday, June 12th that permits the company to buyback $51.30 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its shares are undervalued.

In other Nexstar Broadcasting Group news, Director Dennis Miller sold 4,500 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $63.49, for a total value of $285,705.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas Carter sold 3,125 shares of the stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $63.50, for a total value of $198,437.50. Following the completion of the sale, the chief financial officer now owns 67,836 shares of the company’s stock, valued at $4,307,586. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.

Several large investors have recently made changes to their positions in NXST. Vanguard Group Inc. increased its position in Nexstar Broadcasting Group by 1.8% in the second quarter. Vanguard Group Inc. now owns 3,502,491 shares of the company’s stock worth $209,449,000 after buying an additional 62,881 shares during the last quarter. Neuberger Berman Group LLC increased its position in Nexstar Broadcasting Group by 14.2% in the first quarter. Neuberger Berman Group LLC now owns 3,304,534 shares of the company’s stock worth $231,813,000 after buying an additional 411,280 shares during the last quarter. BlackRock Inc. increased its position in Nexstar Broadcasting Group by 118,109.1% in the first quarter. BlackRock Inc. now owns 2,975,324 shares of the company’s stock worth $208,720,000 after buying an additional 2,972,807 shares during the last quarter. FMR LLC increased its position in Nexstar Broadcasting Group by 52.6% in the first quarter. FMR LLC now owns 2,280,054 shares of the company’s stock worth $159,946,000 after buying an additional 785,601 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Nexstar Broadcasting Group by 1.0% in the first quarter. Bank of New York Mellon Corp now owns 2,098,247 shares of the company’s stock worth $147,191,000 after buying an additional 21,029 shares during the last quarter.

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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