Nexstar Broadcasting Group Inc. (NASDAQ:NXST) – Investment analysts at Barrington Research boosted their Q4 2017 earnings estimates for Nexstar Broadcasting Group in a research note issued on Monday. Barrington Research analyst J. Goss now anticipates that the brokerage will post earnings per share of $1.05 for the quarter, up from their prior estimate of $1.01.
Nexstar Broadcasting Group (NASDAQ:NXST) last issued its earnings results on Tuesday, August 9th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. Nexstar Broadcasting Group had a return on equity of 89.87% and a net margin of 9.12%. The firm earned $261.99 million during the quarter, compared to the consensus estimate of $265.19 million. During the same period last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 19.4% compared to the same quarter last year.
Several other brokerages also recently weighed in on NXST. Zacks Investment Research raised Nexstar Broadcasting Group from a “strong sell” rating to a “hold” rating and set a $63.00 price target on the stock in a research report on Wednesday, October 12th. Stephens set a $65.00 target price on shares of Nexstar Broadcasting Group and gave the stock a “buy” rating in a research note on Wednesday, September 28th. Jefferies Group reissued a “buy” rating and set a $60.00 target price on shares of Nexstar Broadcasting Group in a research note on Wednesday, September 28th. Finally, Wells Fargo & Co. reissued a “positive” rating and set a $66.00 target price on shares of Nexstar Broadcasting Group in a research note on Monday, July 18th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $67.75.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded up 1.97% during midday trading on Wednesday, hitting $52.92. The stock had a trading volume of 780,066 shares. The firm has a 50 day moving average price of $54.54 and a 200-day moving average price of $51.78. The stock has a market cap of $1.62 billion, a PE ratio of 18.56 and a beta of 2.31. Nexstar Broadcasting Group has a 52-week low of $34.65 and a 52-week high of $61.79.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Keeley Asset Management Corp acquired a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $38,206,000. JPMorgan Chase & Co. increased its stake in Nexstar Broadcasting Group by 469.5% in the first quarter. JPMorgan Chase & Co. now owns 842,129 shares of the company’s stock worth $37,281,000 after buying an additional 694,256 shares during the last quarter. Yost Capital Management L.L.C. acquired a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $22,283,000. Mesirow Financial Investment Management Equity Management acquired a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $21,809,000. Finally, Tiger Legatus Capital Management LLC increased its stake in Nexstar Broadcasting Group by 57.1% in the second quarter. Tiger Legatus Capital Management LLC now owns 880,000 shares of the company’s stock worth $41,870,000 after buying an additional 320,000 shares during the last quarter.
In related news, CFO Thomas Carter sold 1,236 shares of the firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $51.52, for a total value of $63,678.72. Following the transaction, the chief financial officer now directly owns 67,836 shares of the company’s stock, valued at approximately $3,494,910.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Blake Russell sold 10,000 shares of the firm’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $52.38, for a total transaction of $523,800.00. Following the completion of the transaction, the senior vice president now directly owns 27,861 shares in the company, valued at $1,459,359.18. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
Nexstar Broadcasting Group Company Profile
Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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