Analysts Offer Predictions for Nexstar Media Group Inc’s FY2018 Earnings (NXST)

Nexstar Media Group Inc (NASDAQ:NXST) – B. Riley lifted their FY2018 earnings per share estimates for Nexstar Media Group in a report released on Tuesday. B. Riley analyst B. Crockett now expects that the company will post earnings of $8.67 per share for the year, up from their previous estimate of $7.22. B. Riley currently has a “Buy” rating and a $84.00 price target on the stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub cut shares of Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 3rd. FBR & Co assumed coverage on shares of Nexstar Media Group in a research report on Tuesday, October 31st. They issued a “buy” rating and a $79.00 price target for the company. Royal Bank of Canada reiterated a “buy” rating and set a $95.00 price objective on shares of Nexstar Media Group in a research report on Thursday, January 4th. Zacks Investment Research cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 24th. Finally, Wells Fargo & Co reiterated an “outperform” rating and set a $102.00 price objective (up from $93.00) on shares of Nexstar Media Group in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $85.10.

Shares of Nexstar Media Group (NASDAQ NXST) traded up $0.90 during midday trading on Thursday, reaching $81.75. 569,427 shares of the company’s stock traded hands, compared to its average volume of 657,425. The company has a debt-to-equity ratio of 3.58, a quick ratio of 1.35 and a current ratio of 1.35. Nexstar Media Group has a 1 year low of $55.95 and a 1 year high of $82.05. The firm has a market cap of $3,636.18, a PE ratio of 30.73, a P/E/G ratio of 0.78 and a beta of 2.21.

Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The firm had revenue of $611.87 million during the quarter, compared to analysts’ expectations of $609.44 million. During the same period in the prior year, the company posted $0.78 EPS. The company’s revenue was up 122.0% on a year-over-year basis.

In related news, CEO Perry A. Sook sold 300,000 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $66.13, for a total transaction of $19,839,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Gary Michael Vaughn sold 400 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total transaction of $28,528.00. Following the transaction, the insider now directly owns 7,140 shares in the company, valued at $509,224.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 340,810 shares of company stock valued at $22,980,886. 7.80% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. bought a new position in Nexstar Media Group during the third quarter worth $172,000. SG Americas Securities LLC boosted its stake in Nexstar Media Group by 29.8% during the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after acquiring an additional 785 shares in the last quarter. Ameritas Investment Partners Inc. boosted its stake in Nexstar Media Group by 8.5% during the second quarter. Ameritas Investment Partners Inc. now owns 3,990 shares of the company’s stock worth $239,000 after acquiring an additional 312 shares in the last quarter. Cetera Investment Advisers bought a new position in Nexstar Media Group during the second quarter worth $260,000. Finally, Fox Run Management L.L.C. bought a new position in Nexstar Media Group during the third quarter worth $262,000.

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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.

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

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