Jefferies Group Equities Analysts Decrease Earnings Estimates for Nexstar Broadcasting Group, Inc. (NXST)
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Stock analysts at Jefferies Group lowered their Q3 2017 earnings per share (EPS) estimates for shares of Nexstar Broadcasting Group in a research note issued to investors on Wednesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings per share of $0.91 for the quarter, down from their prior estimate of $0.97. Jefferies Group has a “Buy” rating and a $80.00 price objective on the stock. Jefferies Group also issued estimates for Nexstar Broadcasting Group’s Q4 2017 earnings at $1.13 EPS, FY2017 earnings at $3.13 EPS and FY2019 earnings at $6.02 EPS.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.01. The firm had revenue of $626.11 million for the quarter, compared to analysts’ expectations of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 18.35%. The company’s revenue was up 139.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.78 EPS.
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A number of other research analysts have also recently weighed in on NXST. ValuEngine upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Thursday, June 29th. BidaskClub raised Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $83.00 price objective on shares of Nexstar Broadcasting Group in a research note on Thursday, July 6th. Zacks Investment Research lowered Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $80.22.
Nexstar Broadcasting Group (NASDAQ NXST) opened at 61.25 on Monday. Nexstar Broadcasting Group has a 12 month low of $47.00 and a 12 month high of $73.90. The stock’s 50 day moving average is $60.49 and its 200 day moving average is $62.01. The firm has a market cap of $2.83 billion, a PE ratio of 25.20 and a beta of 2.22.
In other Nexstar Broadcasting Group news, Director John R. Muse sold 641,240 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was sold at an average price of $60.10, for a total value of $38,538,524.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John R. Muse sold 229,267 shares of the firm’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $59.50, for a total value of $13,641,386.50. Following the completion of the sale, the director now directly owns 4,743 shares in the company, valued at $282,208.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 972,682 shares of company stock worth $58,308,393. Corporate insiders own 7.80% of the company’s stock.
A number of large investors have recently modified their holdings of NXST. Thompson Siegel & Walmsley LLC acquired a new stake in Nexstar Broadcasting Group in the 2nd quarter worth about $125,000. Bronfman E.L. Rothschild L.P. acquired a new stake in Nexstar Broadcasting Group in the 2nd quarter worth about $145,000. Invictus RG acquired a new stake in Nexstar Broadcasting Group in the 1st quarter worth about $149,000. SG Americas Securities LLC boosted its stake in Nexstar Broadcasting Group by 48.4% in the 1st quarter. SG Americas Securities LLC now owns 2,633 shares of the company’s stock worth $185,000 after buying an additional 859 shares during the last quarter. Finally, Teacher Retirement System of Texas boosted its stake in Nexstar Broadcasting Group by 2.8% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after buying an additional 99 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.
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