Analysts Anticipate Nexstar Media Group Inc (NXST) to Announce $3.54 EPS

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Wall Street analysts forecast that Nexstar Media Group Inc (NASDAQ:NXST) will report $3.54 earnings per share (EPS) for the current quarter, Zacks reports. Three analysts have made estimates for Nexstar Media Group’s earnings. The lowest EPS estimate is $3.42 and the highest is $3.65. Nexstar Media Group posted earnings of $1.61 per share in the same quarter last year, which would suggest a positive year over year growth rate of 119.9%. The business is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, February 26th.

According to Zacks, analysts expect that Nexstar Media Group will report full-year earnings of $8.42 per share for the current financial year, with EPS estimates ranging from $8.20 to $8.61. For the next fiscal year, analysts anticipate that the firm will post earnings of $6.78 per share, with EPS estimates ranging from $5.14 to $7.40. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research analysts that cover Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last posted 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 analyst estimates of $676.34 million. Nexstar Media Group had a return on equity of 19.12% and a net margin of 23.45%. Nexstar Media Group’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.98 earnings per share.

A number of analysts have commented on NXST shares. Zacks Investment Research upgraded shares of 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. Royal Bank of Canada lifted their price objective on shares of Nexstar Media Group to $112.00 and gave the company an “outperform” rating in a research note on Friday, January 11th. BidaskClub lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 28th. Stephens lifted their price objective on shares of Nexstar Media Group from $94.00 to $105.00 and gave the company an “overweight” rating in a research note on Tuesday, December 4th. Finally, Benchmark restated a “buy” rating and issued a $115.00 price objective (up from $96.00) on shares of Nexstar Media Group in a research note on Tuesday, December 4th. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $102.89.

In other news, Director Jay M. Grossman sold 3,125 shares of the company’s stock in a transaction on Wednesday, November 14th. The shares were sold at an average price of $80.66, for a total value of $252,062.50. Following the completion of the transaction, the director now directly owns 50,000 shares in the company, valued at $4,033,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.40% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of NXST. FMR LLC boosted its stake in Nexstar Media Group by 41.1% during the 3rd quarter. FMR LLC now owns 1,905,120 shares of the company’s stock valued at $155,077,000 after acquiring an additional 555,253 shares during the last quarter. Hound Partners LLC raised its position in Nexstar Media Group by 10.8% during the third quarter. Hound Partners LLC now owns 3,195,552 shares of the company’s stock valued at $260,118,000 after acquiring an additional 310,546 shares in the last quarter. Bank of America Corp DE raised its position in Nexstar Media Group by 59.8% during the second quarter. Bank of America Corp DE now owns 560,840 shares of the company’s stock valued at $41,165,000 after acquiring an additional 209,885 shares in the last quarter. Macquarie Group Ltd. bought a new position in shares of Nexstar Media Group in the third quarter valued at approximately $15,972,000. Finally, 12th Street Asset Management Company LLC bought a new position in Nexstar Media Group during the third quarter worth $10,623,000.

Nexstar Media Group stock traded down $0.76 during mid-day trading on Thursday, reaching $83.15. 15,794 shares of the company were exchanged, compared to its average volume of 491,132. 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 has a market cap of $3.80 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.23 and a beta of 1.54. Nexstar Media Group has a 12-month low of $60.30 and a 12-month high of $89.75.

The company also recently announced a quarterly dividend, which will be paid on Friday, February 22nd. Stockholders of record on Friday, February 8th will be paid a $0.45 dividend. The ex-dividend date of this dividend is Thursday, February 7th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $0.38. This represents a $1.80 annualized dividend and a dividend yield of 2.16%. Nexstar Media Group’s dividend payout ratio is 37.69%.

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

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