Nexstar Broadcasting Group, Inc. (NXST) Expected to Post Earnings of $0.96 Per Share

Equities analysts expect Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) to post earnings of $0.96 per share for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Nexstar Broadcasting Group’s earnings, with the lowest EPS estimate coming in at $0.88 and the highest estimate coming in at $1.03. Nexstar Broadcasting Group posted earnings of $0.78 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 23.1%. The firm is expected to issue its next earnings report on Tuesday, November 14th.

According to Zacks, analysts expect that Nexstar Broadcasting Group will report full year earnings of $3.70 per share for the current financial year, with EPS estimates ranging from $3.35 to $4.04. For the next year, analysts expect that the company will post earnings of $7.24 per share, with EPS estimates ranging from $6.65 to $8.11. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Nexstar Broadcasting Group.

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

NXST has been the topic of several research reports. BidaskClub upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Friday, August 11th. ValuEngine upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Royal Bank Of Canada restated a “buy” rating and set a $83.00 price objective on shares of Nexstar Broadcasting Group in a report on Thursday, July 6th. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a report on Wednesday. Finally, Wells Fargo & Company restated an “outperform” rating and set a $85.00 price objective on shares of Nexstar Broadcasting Group in a report on Friday, July 14th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $77.00.

In other news, CFO Thomas Carter sold 3,125 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The stock was sold at an average price of $63.50, for a total value of $198,437.50. Following the transaction, the chief financial officer now directly owns 67,836 shares in the company, valued at approximately $4,307,586. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dennis Miller sold 4,500 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.49, for a total value of $285,705.00. The disclosure for this sale can be found here. Company insiders own 7.80% of the company’s stock.

Several large investors have recently made changes to their positions in the company. Alps Advisors Inc. increased its holdings in shares of Nexstar Broadcasting Group by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 6,826 shares of the company’s stock valued at $408,000 after acquiring an additional 18 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of 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 valued at $214,000 after acquiring an additional 99 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Nexstar Broadcasting Group by 0.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 23,312 shares of the company’s stock valued at $1,394,000 after acquiring an additional 131 shares during the period. ProShare Advisors LLC increased its holdings in shares of Nexstar Broadcasting Group by 4.3% in the 1st quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock valued at $351,000 after acquiring an additional 207 shares during the period. Finally, Ameritas Investment Partners Inc. increased its holdings in shares of Nexstar Broadcasting Group by 8.5% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock valued at $239,000 after acquiring an additional 312 shares during the period.

ILLEGAL ACTIVITY WARNING: “Nexstar Broadcasting Group, Inc. (NXST) Expected to Post Earnings of $0.96 Per Share” was originally reported by TrueBlueTribune and is the property of of TrueBlueTribune. If you are accessing this piece on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright laws. The original version of this piece can be viewed at https://www.truebluetribune.com/2017/09/17/nexstar-broadcasting-group-inc-nxst-expected-to-post-earnings-of-0-96-per-share.html.

Shares of Nexstar Broadcasting Group (NASDAQ NXST) traded up 1.31% during midday trading on Thursday, reaching $57.80. The company had a trading volume of 1,040,242 shares. The firm’s 50 day moving average price is $61.57 and its 200-day moving average price is $63.62. Nexstar Broadcasting Group has a 1-year low of $47.00 and a 1-year high of $73.90. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 23.12 and a beta of 2.27.

Nexstar Broadcasting Group declared that its Board of Directors has initiated a share buyback plan on Monday, June 12th that authorizes the company to repurchase $51.30 million in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

The business also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Friday, August 11th were issued a $0.30 dividend. The ex-dividend date was Wednesday, August 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.08%. Nexstar Broadcasting Group’s dividend payout ratio is presently 48.78%.

Nexstar Broadcasting 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.

Get a free copy of the Zacks research report on Nexstar Broadcasting Group (NXST)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Nexstar Broadcasting Group Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Broadcasting Group Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply