Barrington Research Analysts Reduce Earnings Estimates for Nexstar Broadcasting Group Inc. (NXST)
Nexstar Broadcasting Group Inc. (NASDAQ:NXST) – Equities research analysts at Barrington Research decreased their FY2016 earnings estimates for Nexstar Broadcasting Group in a research note issued on Monday. Barrington Research analyst J. Goss now forecasts that the brokerage will earn $3.70 per share for the year, down from their previous forecast of $3.90. Barrington Research currently has a “Outperform” rating and a $70.00 target price on the stock. Barrington Research also issued estimates for Nexstar Broadcasting Group’s Q4 2016 earnings at $1.45 EPS, Q2 2017 earnings at $0.83 EPS, FY2017 earnings at $3.00 EPS and FY2018 earnings at $4.50 EPS.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Tuesday, November 8th. The company reported $0.78 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by $0.07. The firm had revenue of $275.70 million for the quarter, compared to analysts’ expectations of $62.05 million. Nexstar Broadcasting Group had a net margin of 9.39% and a return on equity of 64.45%. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS.
A number of other research firms have also issued reports on NXST. Wells Fargo & Co. reiterated a “buy” rating on shares of Nexstar Broadcasting Group in a report on Monday. Zacks Investment Research lowered Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a report on Thursday, July 21st. Stephens set a $65.00 target price on Nexstar Broadcasting Group and gave the company a “buy” rating in a report on Wednesday, September 28th. Jefferies Group reiterated a “buy” rating and issued a $60.00 target price on shares of Nexstar Broadcasting Group in a report on Wednesday, September 28th. Finally, Wedbush lifted their target price on Nexstar Broadcasting Group from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Wednesday, November 9th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Nexstar Broadcasting Group has an average rating of “Buy” and a consensus target price of $66.88.
Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at 59.20 on Tuesday. The firm’s 50-day moving average price is $53.46 and its 200 day moving average price is $52.22. The stock has a market cap of $1.82 billion, a P/E ratio of 19.07 and a beta of 2.17. Nexstar Broadcasting Group has a 1-year low of $34.65 and a 1-year high of $61.79.
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 1.62%. The ex-dividend date is Wednesday, November 2nd. Nexstar Broadcasting Group’s dividend payout ratio is presently 30.87%.
Several hedge funds have recently bought and sold shares of the company. Scopus Asset Management L.P. purchased a new stake in Nexstar Broadcasting Group during the third quarter worth approximately $60,921,000. Keeley Asset Management Corp purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $38,206,000. HG Vora Capital Management LLC purchased a new stake in Nexstar Broadcasting Group during the third quarter worth approximately $28,855,000. Yost Capital Management L.L.C. purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $22,283,000. Finally, Mesirow Financial Investment Management Equity Management purchased a new stake in Nexstar Broadcasting Group during the second quarter worth approximately $21,809,000.
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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