Analysts expect Nexstar Media Group Inc (NASDAQ:NXST) to report $1.07 billion in sales for the current fiscal quarter, according to . Two analysts have issued estimates for Nexstar Media Group’s earnings, with estimates ranging from $1.06 billion to $1.07 billion. Nexstar Media Group posted sales of $798.02 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 34.1%. The business is scheduled to report its next quarterly earnings results on Tuesday, February 25th.
On average, analysts expect that Nexstar Media Group will report full year sales of $3.01 billion for the current year, with estimates ranging from $3.00 billion to $3.02 billion. For the next year, analysts anticipate that the company will post sales of $4.63 billion, with estimates ranging from $4.57 billion to $4.66 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($2.36). Nexstar Media Group had a net margin of 9.87% and a return on equity of 16.74%. The firm had revenue of $663.60 million for the quarter, compared to the consensus estimate of $644.00 million. During the same period in the prior year, the business earned $2.12 earnings per share. The company’s revenue for the quarter was down 4.2% on a year-over-year basis.
A number of brokerages have weighed in on NXST. Barrington Research reaffirmed a “buy” rating and issued a $155.00 target price on shares of Nexstar Media Group in a research note on Tuesday, November 12th. downgraded shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research note on Friday. raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research note on Saturday, November 16th. Benchmark boosted their price target on shares of Nexstar Media Group from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. Finally, Wells Fargo & Co began coverage on shares of Nexstar Media Group in a research note on Monday, September 23rd. They set a “market perform” rating and a $113.00 price target for the company. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. Nexstar Media Group has an average rating of “Buy” and an average price target of $131.25.
In related news, CFO Thomas Carter sold 10,000 shares of the stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $116.90, for a total transaction of $1,169,000.00. Following the completion of the transaction, the chief financial officer now owns 108,189 shares in the company, valued at $12,647,294.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through . Also, EVP Elizabeth Ryder sold 9,500 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $110.03, for a total transaction of $1,045,285.00. Following the transaction, the executive vice president now owns 4,192 shares of the company’s stock, valued at approximately $461,245.76. The disclosure for this sale can be found here. Insiders sold 45,663 shares of company stock valued at $5,031,382 in the last quarter. Corporate insiders own 6.40% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Advisors LLC boosted its holdings in Nexstar Media Group by 4.9% during the third quarter. Boston Advisors LLC now owns 70,876 shares of the company’s stock worth $7,251,000 after purchasing an additional 3,338 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Nexstar Media Group during the second quarter worth $203,000. California Public Employees Retirement System raised its position in Nexstar Media Group by 56.1% during the third quarter. California Public Employees Retirement System now owns 116,851 shares of the company’s stock worth $11,955,000 after acquiring an additional 42,016 shares in the last quarter. Macquarie Group Ltd. raised its position in Nexstar Media Group by 4.3% during the second quarter. Macquarie Group Ltd. now owns 261,418 shares of the company’s stock worth $26,403,000 after acquiring an additional 10,709 shares in the last quarter. Finally, State Street Corp raised its position in Nexstar Media Group by 0.8% during the third quarter. State Street Corp now owns 611,939 shares of the company’s stock worth $62,607,000 after acquiring an additional 5,090 shares in the last quarter.
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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