$657.45 Million in Sales Expected for Nexstar Media Group Inc (NASDAQ:NXST) This Quarter

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Wall Street analysts expect Nexstar Media Group Inc (NASDAQ:NXST) to report sales of $657.45 million for the current quarter, according to Zacks. Two analysts have issued estimates for Nexstar Media Group’s earnings, with estimates ranging from $654.00 million to $660.90 million. Nexstar Media Group posted sales of $693.02 million during the same quarter last year, which suggests a negative year over year growth rate of 5.1%. The company is expected to announce its next earnings report before the market opens on Wednesday, November 6th.

On average, analysts expect that Nexstar Media Group will report full year sales of $2.64 billion for the current fiscal year, with estimates ranging from $2.62 billion to $2.66 billion. For the next fiscal year, analysts anticipate that the company will post sales of $3.11 billion, with estimates ranging from $3.09 billion to $3.13 billion. Zacks’ sales averages are an average based on a survey of sell-side analysts that cover Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Wednesday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.38 by $0.04. Nexstar Media Group had a net margin of 13.61% and a return on equity of 21.05%. The business had revenue of $649.01 million during the quarter, compared to the consensus estimate of $653.00 million. During the same period last year, the business posted $1.86 EPS. Nexstar Media Group’s revenue was down 1.7% on a year-over-year basis.

Several equities research analysts recently issued reports on NXST shares. Wells Fargo & Co started coverage on shares of Nexstar Media Group in a research note on Monday, September 23rd. They issued a “market perform” rating and a $113.00 target price for the company. Benchmark raised their target price on shares of Nexstar Media Group from $135.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, September 23rd. BidaskClub downgraded shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Friday, September 27th. Stephens set a $150.00 target price on shares of Nexstar Media Group and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Zacks Investment Research downgraded shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $129.63.

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 625 shares of the firm’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $106.55, for a total transaction of $66,593.75. Following the completion of the sale, the director now directly owns 3,750 shares in the company, valued at $399,562.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 6.40% of the company’s stock.

A number of hedge funds have recently modified their holdings of the business. American National Bank lifted its position in Nexstar Media Group by 8.1% during the third quarter. American National Bank now owns 57,993 shares of the company’s stock worth $5,933,000 after acquiring an additional 4,335 shares during the last quarter. Cerebellum GP LLC bought a new position in shares of Nexstar Media Group during the third quarter worth approximately $132,000. Macquarie Group Ltd. increased its holdings in shares of Nexstar Media Group by 4.3% during the second quarter. Macquarie Group Ltd. now owns 261,418 shares of the company’s stock worth $26,403,000 after purchasing an additional 10,709 shares during the period. Hancock Whitney Corp increased its holdings in shares of Nexstar Media Group by 2.1% during the second quarter. Hancock Whitney Corp now owns 7,405 shares of the company’s stock worth $748,000 after purchasing an additional 151 shares during the period. Finally, Boston Partners increased its holdings in shares of Nexstar Media Group by 81.3% during the second quarter. Boston Partners now owns 295,463 shares of the company’s stock worth $29,842,000 after purchasing an additional 132,513 shares during the period. Hedge funds and other institutional investors own 99.75% of the company’s stock.

NASDAQ:NXST traded up $4.17 during mid-day trading on Friday, hitting $99.49. The stock had a trading volume of 7,441 shares, compared to its average volume of 458,258. Nexstar Media Group has a twelve month low of $70.09 and a twelve month high of $119.93. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.54 and a beta of 1.48. The company’s 50 day simple moving average is $99.47 and its 200 day simple moving average is $104.08. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.57 and a current ratio of 1.57.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Earnings History and Estimates for Nexstar Media Group (NASDAQ:NXST)

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