$645.35 Million in Sales Expected for Nexstar Media Group Inc (NXST) This Quarter

Equities analysts expect Nexstar Media Group Inc (NASDAQ:NXST) to announce sales of $645.35 million for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Nexstar Media Group’s earnings, with the lowest sales estimate coming in at $639.30 million and the highest estimate coming in at $649.71 million. Nexstar Media Group reported sales of $309.88 million in the same quarter last year, which indicates a positive year-over-year growth rate of 108.3%. The business is scheduled to issue its next earnings report on Tuesday, February 27th.

On average, analysts expect that Nexstar Media Group will report full year sales of $645.35 million for the current financial year, with estimates ranging from $2.42 billion to $2.44 billion. For the next 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’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.09. The company had revenue of $611.87 million for the quarter, compared to the consensus estimate of $609.44 million. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The firm’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.

NXST has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating and issued a $79.00 price target on shares of Nexstar Media Group in a report on Wednesday, November 1st. Zacks Investment Research raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $66.00 price target on the stock in a report on Wednesday, September 13th. Deutsche Bank initiated coverage on shares of Nexstar Media Group in a report on Friday, October 20th. They issued a “buy” rating and a $80.00 price target on the stock. Guggenheim initiated coverage on shares of Nexstar Media Group in a report on Wednesday, October 18th. They issued a “buy” rating and a $90.00 price target on the stock. Finally, BidaskClub raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $85.10.

In other Nexstar Media Group news, CEO Perry A. Sook sold 300,000 shares of the company’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $66.13, for a total transaction of $19,839,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Gary Michael Vaughn sold 5,050 shares of the company’s stock in a transaction dated Friday, October 20th. The shares were sold at an average price of $61.35, for a total transaction of $309,817.50. Following the sale, the insider now directly owns 10,000 shares in the company, valued at $613,500. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 345,860 shares of company stock worth $23,290,703. Insiders own 7.80% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in NXST. Thompson Siegel & Walmsley LLC bought a new stake in shares of Nexstar Media Group during the second quarter valued at about $125,000. Bronfman E.L. Rothschild L.P. bought a new stake in shares of Nexstar Media Group during the second quarter valued at about $145,000. Victory Capital Management Inc. bought a new stake in shares of Nexstar Media Group during the third quarter valued at about $172,000. SG Americas Securities LLC increased its position in shares of Nexstar Media Group by 29.8% during the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after buying an additional 785 shares during the period. Finally, Ameritas Investment Partners Inc. increased its position 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 valued at $239,000 after buying an additional 312 shares during the period.

Nexstar Media Group (NASDAQ:NXST) opened at $74.20 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 3.58. The firm has a market cap of $3,444.80, a PE ratio of 27.89, a P/E/G ratio of 0.76 and a beta of 2.21. Nexstar Media Group has a fifty-two week low of $55.95 and a fifty-two week high of $80.45.

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About Nexstar Media Group

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

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