$652.80 Million in Sales Expected for Nexstar Media Group Inc (NASDAQ:NXST) This Quarter

Equities analysts expect that Nexstar Media Group Inc (NASDAQ:NXST) will post sales of $652.80 million for the current quarter, Zacks reports. Two analysts have provided estimates for Nexstar Media Group’s earnings, with estimates ranging from $651.60 million to $654.00 million. Nexstar Media Group posted sales of $660.32 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 1.1%. The business is expected to issue its next earnings results before the market opens on Wednesday, August 7th.

On average, analysts expect that Nexstar Media Group will report full year sales of $2.66 billion for the current financial year, with estimates ranging from $2.65 billion to $2.68 billion. For the next financial year, analysts forecast that the company will report sales of $3.13 billion, with estimates ranging from $3.12 billion to $3.13 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Nexstar Media Group.

Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). The firm had revenue of $626.65 million during the quarter, compared to analysts’ expectations of $640.35 million. Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The business’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $1.01 earnings per share.

Several equities analysts recently weighed in on the company. ValuEngine downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Wednesday, June 12th. Zacks Investment Research downgraded Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. B. Riley set a $139.00 target price on Nexstar Media Group and gave the company a “buy” rating in a research report on Tuesday, May 14th. Benchmark reiterated a “buy” rating and set a $120.00 target price (up from $115.00) on shares of Nexstar Media Group in a research report on Thursday, March 21st. Finally, BidaskClub upgraded Nexstar Media Group from a “sell” rating to a “hold” rating in a research report on Tuesday, July 2nd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nexstar Media Group presently has an average rating of “Buy” and an average price target of $113.13.

NASDAQ NXST traded up $1.45 on Friday, hitting $108.07. 4,330 shares of the company traded hands, compared to its average volume of 534,806. The firm has a market cap of $5.07 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 1.67 and a beta of 1.50. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 2.00. The business has a 50 day simple moving average of $102.43. Nexstar Media Group has a 52-week low of $70.09 and a 52-week high of $119.93.

In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $102.17, for a total transaction of $63,856.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.40% of the stock is owned by company insiders.

Large investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its holdings in Nexstar Media Group by 21.1% during the first quarter. Envestnet Asset Management Inc. now owns 44,058 shares of the company’s stock valued at $4,775,000 after acquiring an additional 7,674 shares during the period. Comerica Bank raised its holdings in Nexstar Media Group by 2.0% during the first quarter. Comerica Bank now owns 37,527 shares of the company’s stock valued at $4,316,000 after acquiring an additional 733 shares during the period. Polianta Ltd bought a new stake in Nexstar Media Group during the first quarter valued at about $1,950,000. CIBC Private Wealth Group LLC bought a new stake in Nexstar Media Group during the first quarter valued at about $387,000. Finally, Swiss National Bank raised its holdings in Nexstar Media Group by 3.1% during the first quarter. Swiss National Bank now owns 83,060 shares of the company’s stock valued at $9,001,000 after acquiring an additional 2,500 shares during the period.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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

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