Brokerages forecast that Nexstar Media Group Inc (NASDAQ:NXST) will announce $645.35 million in sales for the current quarter, according to Zacks Investment Research. Six analysts have provided estimates for Nexstar Media Group’s earnings. The lowest sales estimate is $639.30 million and the highest is $649.71 million. Nexstar Media Group reported sales of $309.88 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 108.3%. The company is expected to issue its next quarterly earnings report before the market opens on Tuesday, February 27th.
According to Zacks, analysts expect that Nexstar Media Group will report full year sales of $645.35 million for the current year, with estimates ranging from $2.42 billion to $2.44 billion. For the next fiscal year, analysts anticipate that the company will post sales of $2.79 billion per share, with estimates ranging from $2.75 billion to $2.85 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last posted its earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The business’s quarterly revenue was up 122.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.78 EPS.
In other news, insider Timothy C. Busch sold 10,000 shares of the company’s stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $79.13, for a total transaction of $791,300.00. Following the completion of the sale, the insider now owns 50,214 shares of the company’s stock, valued at $3,973,433.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Blake Russell sold 20,000 shares of the company’s stock in a transaction on Friday, December 22nd. The stock was sold at an average price of $78.31, for a total transaction of $1,566,200.00. Following the sale, the senior vice president now directly owns 42,861 shares of the company’s stock, valued at approximately $3,356,444.91. The disclosure for this sale can be found here. Insiders have sold 40,610 shares of company stock valued at $3,129,294 in the last ninety days. Insiders own 8.40% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Cerebellum GP LLC purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $132,000. Victory Capital Management Inc. purchased a new stake in shares of Nexstar Media Group during the third quarter worth $172,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Nexstar Media Group during the fourth quarter worth $287,000. Ameritas Investment Partners Inc. grew its holdings in shares of Nexstar Media Group by 8.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after buying an additional 312 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Nexstar Media Group during the third quarter worth $262,000.
Nexstar Media Group (NXST) opened at $71.95 on Thursday. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market cap of $3,328.61, a P/E ratio of 27.05, a PEG ratio of 0.70 and a beta of 1.83. Nexstar Media Group has a 1-year low of $55.95 and a 1-year high of $82.95.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a dividend of $0.375 per share. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.08%. Nexstar Media Group’s dividend payout ratio is presently 45.11%.
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Nexstar Media Group Company Profile
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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