Wall Street analysts forecast that Nexstar Media Group Inc (NASDAQ:NXST) will announce sales of $675.28 million for the current fiscal 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 in the same quarter last year, which suggests a positive year-over-year growth rate of 10.4%. The business is scheduled to issue its next earnings report on Monday, November 5th.
On average, 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 year, analysts anticipate that the business will report sales of $2.70 billion per share, with estimates ranging from $2.65 billion to $2.80 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings data on Wednesday, August 8th. The company reported $1.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.14. The business had revenue of $660.30 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 EPS.
In related news, insider Brian Jones sold 2,238 shares of the stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $76.03, for a total transaction of $170,155.14. Following the sale, the insider now owns 10,500 shares in the company, valued at approximately $798,315. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas Davis sold 1,875 shares of the stock in a transaction on Wednesday, June 20th. The shares were sold at an average price of $77.41, for a total value of $145,143.75. Following the sale, the insider now owns 683 shares in the company, valued at approximately $52,871.03. The disclosure for this sale can be found here. Insiders have sold a total of 7,501 shares of company stock worth $567,782 in the last 90 days. 6.40% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings in Nexstar Media Group by 7.3% during the 2nd quarter. BlackRock Inc. now owns 3,015,019 shares of the company’s stock valued at $221,304,000 after buying an additional 204,160 shares during the period. Park West Asset Management LLC raised its holdings in Nexstar Media Group by 12.2% during the 1st quarter. Park West Asset Management LLC now owns 2,043,727 shares of the company’s stock valued at $135,908,000 after buying an additional 222,092 shares during the period. JPMorgan Chase & Co. raised its holdings in Nexstar Media Group by 2.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,985,703 shares of the company’s stock valued at $132,047,000 after buying an additional 47,593 shares during the period. P2 Capital Partners LLC raised its holdings in Nexstar Media Group by 59.1% during the 1st quarter. P2 Capital Partners LLC now owns 1,865,329 shares of the company’s stock valued at $124,044,000 after buying an additional 692,829 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Nexstar Media Group by 16.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock valued at $136,684,000 after buying an additional 257,729 shares during the period.
Shares of NXST traded down $0.15 during mid-day trading on Friday, hitting $79.30. 321,000 shares of the stock were exchanged, compared to its average volume of 618,844. The stock has a market capitalization of $3.71 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 1.01 and a beta of 1.89. Nexstar Media Group has a 52-week low of $56.65 and a 52-week high of $89.75. The company has a debt-to-equity ratio of 2.59, a current ratio of 2.43 and a quick ratio of 2.43.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Investors of record on Friday, August 10th were issued a dividend of $0.375 per share. The ex-dividend date of this dividend was Thursday, August 9th. This represents a $1.50 annualized dividend and a yield of 1.89%. Nexstar Media Group’s payout ratio is presently 37.69%.
Nexstar Media Group Company Profile
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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