$645.28 Million in Sales Expected for Nexstar Media Group Inc (NXST) This Quarter
Analysts predict that Nexstar Media Group Inc (NASDAQ:NXST) will post sales of $645.28 million for the current quarter, according to Zacks. Five analysts have issued estimates for Nexstar Media Group’s earnings, with estimates ranging from $639.30 million to $649.71 million. Nexstar Media Group reported sales of $309.88 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 108.2%. The company is expected to announce its next earnings results on Tuesday, February 27th.
According to Zacks, analysts expect that Nexstar Media Group will report full-year sales of $645.28 million for the current year, with estimates ranging from $2.42 billion to $2.44 billion. For the next fiscal year, analysts anticipate that the company will report sales of $2.79 billion per share, with estimates ranging from $2.75 billion to $2.85 billion. Zacks’ sales calculations are an average based on a survey of analysts that follow Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last announced its quarterly earnings data on Monday, November 6th. The company reported $0.98 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.89 by $0.09. Nexstar Media Group had a net margin of 5.60% and a return on equity of 16.20%. The firm had revenue of $611.87 million during the quarter, compared to analyst estimates of $609.44 million. During the same quarter in the prior year, the firm posted $0.78 earnings per share. Nexstar Media Group’s quarterly revenue was up 122.0% on a year-over-year basis.
Shares of Nexstar Media Group (NASDAQ NXST) traded up $1.50 on Wednesday, hitting $77.85. 1,032,700 shares of the company were exchanged, compared to its average volume of 717,914. 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 Media Group has a 12-month low of $55.95 and a 12-month high of $77.95. The stock has a market capitalization of $3,478.97, a price-to-earnings ratio of 20.04, a P/E/G ratio of 1.72 and a beta of 2.21.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 17th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, November 16th. This represents a $1.20 dividend on an annualized basis and a yield of 1.54%. Nexstar Media Group’s payout ratio is currently 45.11%.
In other news, CEO Perry A. Sook sold 300,000 shares of the stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $66.13, for a total transaction of $19,839,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gary Michael Vaughn sold 400 shares of the stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $71.32, for a total transaction of $28,528.00. Following the sale, the insider now directly owns 7,140 shares in the company, valued at approximately $509,224.80. The disclosure for this sale can be found here. Insiders sold 1,264,247 shares of company stock worth $77,658,856 in the last ninety days. 8.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the company. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Nexstar Media Group during the second quarter worth about $125,000. Bronfman E.L. Rothschild L.P. acquired a new stake in shares of Nexstar Media Group during the second quarter worth about $145,000. Victory Capital Management Inc. acquired a new stake in shares of Nexstar Media Group during the third quarter worth about $172,000. SG Americas Securities LLC lifted its position in shares of Nexstar Media Group by 29.8% during 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 in the last quarter. Finally, Teacher Retirement System of Texas lifted its position in shares of Nexstar Media Group by 2.8% during 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 in the last quarter.
Nexstar Media 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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