Q4 2017 EPS Estimates for Nexstar Broadcasting Group, Inc. (NXST) Decreased by Barrington Research
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Barrington Research lowered their Q4 2017 earnings estimates for Nexstar Broadcasting Group in a research note issued on Tuesday. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of $1.30 for the quarter, down from their prior forecast of $1.39. Barrington Research also issued estimates for Nexstar Broadcasting Group’s Q1 2018 earnings at $1.20 EPS, Q2 2018 earnings at $1.90 EPS, Q3 2018 earnings at $1.83 EPS, Q4 2018 earnings at $2.78 EPS, FY2018 earnings at $7.70 EPS and FY2019 earnings at $6.45 EPS.
Other analysts also recently issued research reports about the company. BidaskClub upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research report on Friday, August 11th. Jefferies Group LLC reiterated a “buy” rating and issued a $80.00 price objective on shares of Nexstar Broadcasting Group in a research report on Thursday, September 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $81.00 price objective on shares of Nexstar Broadcasting Group in a research report on Monday, September 18th. Zacks Investment Research upgraded Nexstar Broadcasting Group from a “hold” rating to a “buy” rating and set a $66.00 price objective for the company in a research report on Wednesday, September 13th. Finally, Deutsche Bank AG assumed coverage on Nexstar Broadcasting Group in a research report on Friday, October 20th. They issued a “buy” rating and a $80.00 price objective for the company. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Nexstar Broadcasting Group presently has an average rating of “Buy” and a consensus price target of $82.00.
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Shares of Nexstar Broadcasting Group (NASDAQ:NXST) opened at $65.95 on Friday. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35. Nexstar Broadcasting Group has a 12-month low of $55.95 and a 12-month high of $73.90. The firm has a market capitalization of $3,005.08, a P/E ratio of 17.31, a price-to-earnings-growth ratio of 1.46 and a beta of 2.24.
Nexstar Broadcasting Group (NASDAQ:NXST) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.09. Nexstar Broadcasting Group had a return on equity of 16.20% and a net margin of 5.60%. The firm had revenue of $611.87 million during the quarter, compared to the consensus estimate of $609.44 million. During the same quarter in the previous year, the company posted $0.78 earnings per share. The business’s revenue was up 122.0% on a year-over-year basis.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 17th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.82%. Nexstar Broadcasting Group’s dividend payout ratio is presently 45.11%.
In related news, CEO Perry A. Sook sold 300,000 shares of the company’s stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $66.13, for a total value of $19,839,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John R. Muse sold 229,267 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $59.50, for a total value of $13,641,386.50. Following the completion of the sale, the director now directly owns 4,743 shares in the company, valued at $282,208.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,270,307 shares of company stock valued at $77,985,660. 7.80% of the stock is owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Thompson Siegel & Walmsley LLC purchased a new stake in Nexstar Broadcasting Group in the second quarter worth $125,000. Bronfman E.L. Rothschild L.P. purchased a new stake in Nexstar Broadcasting Group in the second quarter worth $145,000. Victory Capital Management Inc. purchased a new stake in Nexstar Broadcasting Group in the third quarter worth $172,000. SG Americas Securities LLC grew its stake in Nexstar Broadcasting Group by 29.8% in the second quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock worth $204,000 after purchasing an additional 785 shares during the period. Finally, Teacher Retirement System of Texas grew its stake in Nexstar Broadcasting Group by 2.8% in the second quarter. Teacher Retirement System of Texas now owns 3,584 shares of the company’s stock worth $214,000 after purchasing an additional 99 shares during the period.
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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