Nexstar Media Group (NASDAQ:NXST) – Equities research analysts at B. Riley lowered their Q2 2018 earnings per share (EPS) estimates for Nexstar Media Group in a research note issued to investors on Monday, May 21st. B. Riley analyst B. Crockett now anticipates that the company will post earnings of $1.80 per share for the quarter, down from their prior forecast of $2.16. B. Riley has a “Buy” rating and a $87.00 price target on the stock. B. Riley also issued estimates for Nexstar Media Group’s FY2018 earnings at $8.30 EPS and FY2019 earnings at $6.85 EPS.
Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, May 9th. The company reported $1.01 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.12 by ($0.11). The company had revenue of $615.34 million for the quarter, compared to analysts’ expectations of $612.37 million. Nexstar Media Group had a return on equity of 15.56% and a net margin of 20.63%. The company’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.13 earnings per share.
Several other brokerages have also weighed in on NXST. Zacks Investment Research upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $89.00 price objective on the stock in a report on Tuesday, January 30th. BidaskClub lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, January 25th. Guggenheim set a $88.00 price objective on shares of Nexstar Media Group and gave the stock a “buy” rating in a report on Wednesday, February 14th. Benchmark reiterated a “buy” rating and set a $94.00 price objective on shares of Nexstar Media Group in a report on Wednesday, February 14th. Finally, Noble Financial reissued a “buy” rating on shares of Nexstar Media Group in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company. Nexstar Media Group presently has an average rating of “Buy” and an average price target of $88.80.
Shares of Nexstar Media Group opened at $67.35 on Wednesday, Marketbeat Ratings reports. The stock has a market cap of $3.17 billion, a PE ratio of 16.83, a P/E/G ratio of 1.43 and a beta of 1.73. Nexstar Media Group has a 1-year low of $56.50 and a 1-year high of $82.95. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.46 and a current ratio of 1.46.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Massmutual Trust Co. FSB ADV increased its position in Nexstar Media Group by 13.5% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 7,809 shares of the company’s stock worth $519,000 after purchasing an additional 931 shares in the last quarter. LPL Financial LLC increased its position in Nexstar Media Group by 16.4% during the 4th quarter. LPL Financial LLC now owns 6,659 shares of the company’s stock worth $521,000 after purchasing an additional 936 shares in the last quarter. Aperio Group LLC increased its position in Nexstar Media Group by 20.8% during the 4th quarter. Aperio Group LLC now owns 5,581 shares of the company’s stock worth $436,000 after purchasing an additional 961 shares in the last quarter. Advisor Group Inc. grew its position in Nexstar Media Group by 86.5% in the fourth quarter. Advisor Group Inc. now owns 2,331 shares of the company’s stock valued at $183,000 after acquiring an additional 1,081 shares in the last quarter. Finally, US Bancorp DE grew its position in Nexstar Media Group by 8.2% in the fourth quarter. US Bancorp DE now owns 16,516 shares of the company’s stock valued at $1,291,000 after acquiring an additional 1,254 shares in the last quarter.
In related news, insider Anthony Katsur sold 1,250 shares of the stock in a transaction that occurred on Thursday, May 24th. The shares were sold at an average price of $67.16, for a total transaction of $83,950.00. Following the completion of the sale, the insider now owns 1,250 shares of the company’s stock, valued at approximately $83,950. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.40% of the stock is currently owned by corporate insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 25th. Investors of record on Friday, May 11th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date is Thursday, May 10th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 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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