Equities analysts forecast that Nexstar Media Group Inc (NASDAQ:NXST) will post sales of $675.80 million for the current quarter, according to Zacks Investment Research. Five analysts have provided estimates for Nexstar Media Group’s earnings. The lowest sales estimate is $672.00 million and the highest is $680.00 million. Nexstar Media Group posted sales of $611.87 million during the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The company is expected to announce its next quarterly earnings report on Monday, November 5th.
According to Zacks, analysts expect that Nexstar Media Group will report full year sales of $2.74 billion for the current fiscal year, with estimates ranging from $2.71 billion to $2.88 billion. For the next fiscal year, analysts expect that the firm will post sales of $2.70 billion per share, with estimates ranging from $2.65 billion to $2.76 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Wednesday, August 8th. The company reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.14. The business had revenue of $660.30 million for the quarter, compared to analyst estimates of $657.92 million. Nexstar Media Group had a return on equity of 17.28% and a net margin of 22.07%. The company’s revenue was up 5.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.91 earnings per share.
A number of analysts have recently commented on NXST shares. ValuEngine downgraded Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Barrington Research restated a “buy” rating and issued a $105.00 target price on shares of Nexstar Media Group in a research note on Wednesday, May 9th. Benchmark restated a “buy” rating and issued a $94.00 target price on shares of Nexstar Media Group in a research note on Thursday, May 10th. BidaskClub upgraded Nexstar Media Group from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 16th. Finally, B. Riley lowered their target price on Nexstar Media Group to $87.00 and set a “buy” rating on the stock in a research note on Monday, May 21st. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Nexstar Media Group has a consensus rating of “Buy” and a consensus target price of $89.67.
Shares of NXST stock opened at $78.35 on Thursday. The company has a current ratio of 2.43, a quick ratio of 2.43 and a debt-to-equity ratio of 2.59. The stock has a market capitalization of $3.48 billion, a PE ratio of 19.69, a PEG ratio of 1.57 and a beta of 1.88. Nexstar Media Group has a fifty-two week low of $56.65 and a fifty-two week high of $89.75.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 24th. Stockholders of record on Friday, August 10th will be paid a $0.375 dividend. The ex-dividend date is Thursday, August 9th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 1.91%. Nexstar Media Group’s payout ratio is 37.69%.
In other Nexstar Media Group news, insider Anthony Katsur sold 1,250 shares of the stock in a transaction that occurred on Thursday, May 24th. The stock was sold at an average price of $67.16, for a total transaction of $83,950.00. Following the transaction, the insider now owns 1,250 shares in the company, valued at $83,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Jones sold 2,238 shares of the stock in a transaction that occurred on Wednesday, June 27th. The stock was sold at an average price of $76.03, for a total value of $170,155.14. Following the transaction, the insider now owns 10,500 shares in the company, valued at approximately $798,315. The disclosure for this sale can be found here. Insiders have sold 7,601 shares of company stock worth $557,475 in the last quarter. 6.40% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of the business. Private Management Group Inc. purchased a new position in Nexstar Media Group during the second quarter worth approximately $10,856,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its position in Nexstar Media Group by 64.8% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,423 shares of the company’s stock worth $178,000 after purchasing an additional 953 shares in the last quarter. Advisors Asset Management Inc. purchased a new position in Nexstar Media Group during the second quarter worth approximately $359,000. Glenmede Trust Co. NA boosted its position in Nexstar Media Group by 20.6% during the second quarter. Glenmede Trust Co. NA now owns 639,159 shares of the company’s stock worth $46,914,000 after purchasing an additional 109,257 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. boosted its position in Nexstar Media Group by 36.7% during the second quarter. Pin Oak Investment Advisors Inc. now owns 33,958 shares of the company’s stock worth $2,493,000 after purchasing an additional 9,115 shares in the last quarter.
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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