Analysts expect Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) to report sales of $605.48 million for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for Nexstar Broadcasting Group’s earnings, with the highest sales estimate coming in at $613.30 million and the lowest estimate coming in at $595.00 million. Nexstar Broadcasting Group posted sales of $275.66 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 119.6%. The company is expected to report its next earnings report on Tuesday, November 14th.

On average, analysts expect that Nexstar Broadcasting Group will report full year sales of $605.48 million for the current fiscal year, with estimates ranging from $2.40 billion to $2.45 billion. For the next year, analysts expect that the firm will report sales of $2.79 billion per share, with estimates ranging from $2.75 billion to $2.86 billion. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for Nexstar Broadcasting Group.

Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01. The firm had revenue of $626.11 million during the quarter, compared to analyst estimates of $608.23 million. Nexstar Broadcasting Group had a return on equity of 18.35% and a net margin of 5.44%. Nexstar Broadcasting Group’s quarterly revenue was up 139.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.78 earnings per share.

Several research firms recently weighed in on NXST. Jefferies Group LLC reiterated a “buy” rating and issued a $80.00 target price on shares of Nexstar Broadcasting Group in a report on Thursday, September 21st. Royal Bank Of Canada restated a “buy” rating and issued a $81.00 price target on shares of Nexstar Broadcasting Group in a research note on Monday, September 18th. Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Wednesday, September 13th. ValuEngine downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $78.71.

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Shares of Nexstar Broadcasting Group (NASDAQ:NXST) traded down 0.56% during mid-day trading on Thursday, hitting $62.70. The company had a trading volume of 386,865 shares. The firm has a 50-day moving average price of $60.52 and a 200 day moving average price of $62.61. The firm has a market capitalization of $2.90 billion, a price-to-earnings ratio of 25.79 and a beta of 2.22. Nexstar Broadcasting Group has a 52-week low of $47.00 and a 52-week high of $73.90.

Nexstar Broadcasting Group announced that its board has initiated a stock buyback program on Monday, June 12th that permits the company to buyback $51.30 million in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

In other news, Director Dennis Miller sold 4,500 shares of Nexstar Broadcasting Group stock in a transaction on Friday, August 11th. The shares were sold at an average price of $63.49, for a total transaction of $285,705.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John R. Muse sold 641,240 shares of Nexstar Broadcasting Group stock in a transaction on Thursday, September 28th. The stock was sold at an average price of $60.10, for a total transaction of $38,538,524.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 972,682 shares of company stock valued at $58,308,393. Corporate insiders own 7.80% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Nexstar Broadcasting Group by 98.4% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,817 shares of the company’s stock worth $127,000 after purchasing an additional 901 shares during the last quarter. Blueport Capital L.P. purchased a new stake in shares of Nexstar Broadcasting Group during the 1st quarter worth $140,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Nexstar Broadcasting Group during the 2nd quarter worth $125,000. Invictus RG purchased a new stake in shares of Nexstar Broadcasting Group during the 1st quarter worth $149,000. Finally, Bronfman E.L. Rothschild L.P. purchased a new stake in shares of Nexstar Broadcasting Group during the 2nd quarter worth $145,000.

Nexstar Broadcasting Group Company Profile

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.

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

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