Analysts expect Nexstar Media Group Inc (NASDAQ:NXST) to post earnings of $3.45 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have provided estimates for Nexstar Media Group’s earnings. The highest EPS estimate is $3.65 and the lowest is $3.22. Nexstar Media Group posted earnings of $1.61 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 114.3%. The firm is expected to announce its next quarterly earnings report on Tuesday, February 26th.
On average, analysts expect that Nexstar Media Group will report full-year earnings of $8.41 per share for the current financial year, with EPS estimates ranging from $8.14 to $8.61. For the next fiscal year, analysts forecast that the business will post earnings of $7.00 per share, with EPS estimates ranging from $6.23 to $7.40. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Thursday, November 8th. The company reported $2.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.97 by $0.15. The company had revenue of $693.00 million during the quarter, compared to the consensus estimate of $676.34 million. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.98 earnings per share.
A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and set a $91.00 price objective for the company in a report on Saturday, December 1st. BidaskClub downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Wednesday, November 28th. Noble Financial downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Monday, August 20th. Benchmark reiterated a “buy” rating and issued a $115.00 price objective (up previously from $96.00) on shares of Nexstar Media Group in a report on Tuesday. Finally, B. Riley upped their price objective on Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a report on Thursday, September 6th. Four equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Nexstar Media Group currently has an average rating of “Buy” and an average target price of $95.80.
Shares of NXST stock traded down $1.19 on Friday, reaching $85.30. 579,269 shares of the stock were exchanged, compared to its average volume of 723,435. The company has a market cap of $3.95 billion, a P/E ratio of 21.43, a PEG ratio of 1.03 and a beta of 1.75. Nexstar Media Group has a one year low of $60.30 and a one year high of $89.75. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 2.34.
The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Friday, November 16th were issued a $0.375 dividend. The ex-dividend date was Thursday, November 15th. This represents a $1.50 annualized dividend and a dividend yield of 1.76%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 37.69%.
In other Nexstar Media Group news, EVP Blake Russell sold 7,262 shares of the stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $82.90, for a total value of $602,019.80. Following the completion of the sale, the executive vice president now directly owns 31,950 shares in the company, valued at $2,648,655. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Elizabeth Ryder sold 7,392 shares of the stock in a transaction dated Thursday, September 20th. The stock was sold at an average price of $81.02, for a total value of $598,899.84. Following the completion of the sale, the executive vice president now owns 12,827 shares of the company’s stock, valued at $1,039,243.54. The disclosure for this sale can be found here. Insiders sold 23,925 shares of company stock valued at $1,954,553 over the last 90 days. Corporate insiders own 6.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in NXST. FMR LLC increased its holdings in shares of Nexstar Media Group by 41.1% in the third quarter. FMR LLC now owns 1,905,120 shares of the company’s stock worth $155,077,000 after acquiring an additional 555,253 shares in the last quarter. TPG Group Holdings SBS Advisors Inc. acquired a new position in shares of Nexstar Media Group during the second quarter worth about $34,247,000. Hound Partners LLC boosted its position in shares of Nexstar Media Group by 10.8% during the third quarter. Hound Partners LLC now owns 3,195,552 shares of the company’s stock worth $260,118,000 after buying an additional 310,546 shares during the period. Brown Advisory Inc. boosted its position in shares of Nexstar Media Group by 36.8% during the second quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock worth $79,523,000 after buying an additional 291,197 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Nexstar Media Group by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock worth $136,684,000 after buying an additional 257,729 shares during the period.
About Nexstar Media Group
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.
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