Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Equities research analysts at Jefferies Group upped their FY2018 earnings estimates for shares of Nexstar Broadcasting Group in a research report issued to clients and investors on Wednesday. Jefferies Group analyst J. Janedis now anticipates that the company will post earnings of $7.26 per share for the year, up from their prior forecast of $6.97. Jefferies Group has a “Buy” rating and a $80.00 price target on the stock.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.01. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. The firm had revenue of $626.11 million for the quarter, compared to analysts’ expectations of $608.23 million. During the same period last year, the firm earned $0.78 earnings per share. The company’s revenue for the quarter was up 139.0% compared to the same quarter last year.

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A number of other equities analysts also recently commented on NXST. ValuEngine upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and issued a $83.00 target price on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Co restated an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Nexstar Broadcasting Group has a consensus rating of “Buy” and a consensus target price of $80.11.

Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 1.91% on Friday, hitting $61.25. The stock had a trading volume of 652,436 shares. Nexstar Broadcasting Group has a 12 month low of $47.00 and a 12 month high of $73.90. The company has a 50 day moving average price of $60.46 and a 200-day moving average price of $62.07. The stock has a market cap of $2.83 billion, a PE ratio of 25.20 and a beta of 2.22.

In other news, insider Julie Pruett sold 3,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $60.01, for a total transaction of $180,030.00. Following the transaction, the insider now directly owns 11,985 shares in the company, valued at $719,219.85. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas Carter sold 3,125 shares of the stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $63.50, for a total transaction of $198,437.50. Following the transaction, the chief financial officer now owns 67,836 shares in the company, valued at $4,307,586. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 972,682 shares of company stock worth $58,308,393. Insiders own 7.80% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Rovida Advisors Inc. bought a new position in shares of Nexstar Broadcasting Group during the second quarter valued at approximately $2,912,000. Sei Investments Co. boosted its stake in shares of Nexstar Broadcasting Group by 25.1% during the second quarter. Sei Investments Co. now owns 18,239 shares of the company’s stock valued at $1,092,000 after purchasing an additional 3,658 shares in the last quarter. Teacher Retirement System of Texas boosted its stake in shares of Nexstar Broadcasting Group by 2.8% during 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 in the last quarter. Lazard Asset Management LLC boosted its stake in shares of Nexstar Broadcasting Group by 64.1% during the second quarter. Lazard Asset Management LLC now owns 133,121 shares of the company’s stock valued at $7,960,000 after purchasing an additional 52,015 shares in the last quarter. Finally, Emerald Advisers Inc. PA boosted its stake in shares of Nexstar Broadcasting Group by 2.0% during the second quarter. Emerald Advisers Inc. PA now owns 425,260 shares of the company’s stock valued at $25,431,000 after purchasing an additional 8,270 shares in 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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