Analysts Issue Forecasts for Nexstar Broadcasting Group Inc.’s FY2016 Earnings (NXST)
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) – Research analysts at Wedbush issued their FY2016 earnings per share (EPS) estimates for Nexstar Broadcasting Group in a research report issued on Wednesday. Wedbush analyst J. Dix forecasts that the firm will earn $2.03 per share for the year. Wedbush currently has a “Outperform” rating and a $66.00 target price on the stock. Wedbush also issued estimates for Nexstar Broadcasting Group’s Q4 2016 earnings at ($0.22) EPS and FY2017 earnings at $3.97 EPS.
NXST has been the topic of a number of other research reports. Zacks Investment Research downgraded Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 21st. Stephens set a $65.00 price target on Nexstar Broadcasting Group and gave the stock a “buy” rating in a research report on Wednesday, September 28th. Jefferies Group reissued a “buy” rating and set a $60.00 price target on shares of Nexstar Broadcasting Group in a research report on Wednesday, September 28th. Finally, Wells Fargo & Co. reissued a “positive” rating and set a $66.00 price target on shares of Nexstar Broadcasting Group in a research report on Monday, July 18th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Nexstar Broadcasting Group has an average rating of “Buy” and a consensus target price of $68.00.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 58.65 on Friday. Nexstar Broadcasting Group has a 1-year low of $34.65 and a 1-year high of $61.79. The company has a market capitalization of $1.80 billion, a P/E ratio of 18.89 and a beta of 2.17. The firm’s 50 day moving average price is $53.12 and its 200-day moving average price is $52.09.
Nexstar Broadcasting Group (NASDAQ:NXST) last released its quarterly earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.85 by $0.07. The firm had revenue of $275.70 million for the quarter, compared to the consensus estimate of $62.05 million. Nexstar Broadcasting Group had a net margin of 9.39% and a return on equity of 64.45%. The company’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 18th. Shareholders of record on Friday, November 4th will be paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Wednesday, November 2nd. Nexstar Broadcasting Group’s dividend payout ratio (DPR) is presently 30.87%.
A number of large investors have recently added to or reduced their stakes in NXST. Emerald Advisers Inc. PA boosted its stake in Nexstar Broadcasting Group by 168.9% in the second quarter. Emerald Advisers Inc. PA now owns 374,410 shares of the company’s stock worth $17,814,000 after buying an additional 235,150 shares during the period. Emerald Mutual Fund Advisers Trust boosted its stake in Nexstar Broadcasting Group by 161.7% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 392,399 shares of the company’s stock worth $18,670,000 after buying an additional 242,439 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Nexstar Broadcasting Group by 30.1% in the second quarter. UBS Asset Management Americas Inc. now owns 19,513 shares of the company’s stock worth $929,000 after buying an additional 4,513 shares during the period. Royal Bank of Canada boosted its stake in Nexstar Broadcasting Group by 41.1% in the first quarter. Royal Bank of Canada now owns 947,127 shares of the company’s stock worth $41,929,000 after buying an additional 276,025 shares during the period. Finally, Virginia Retirement Systems ET AL acquired a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $790,000.
About Nexstar Broadcasting Group
Nexstar Broadcasting Group, Inc (Nexstar) 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 in medium-sized markets in the United States. The Company’s segments include Broadcasting and Other.
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