B. Riley Analysts Raise Earnings Estimates for Nexstar Media Group Inc (NXST)
Nexstar Media Group Inc (NASDAQ:NXST) – Equities researchers at B. Riley boosted their FY2018 earnings estimates for shares of Nexstar Media Group in a note issued to investors on Wednesday. B. Riley analyst B. Crockett now anticipates that the company will post earnings per share of $9.12 for the year, up from their previous estimate of $8.67. B. Riley has a “Buy” rating and a $84.00 price objective on the stock.
Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Tuesday, February 27th. The company reported $1.61 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.38 by $0.23. Nexstar Media Group had a net margin of 19.53% and a return on equity of 15.55%. The business had revenue of $653.66 million for the quarter, compared to analysts’ expectations of $645.98 million. During the same quarter last year, the company earned $0.64 EPS. The company’s revenue for the quarter was up 110.9% compared to the same quarter last year.
Shares of Nexstar Media Group (NASDAQ NXST) opened at $72.65 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 Media Group has a twelve month low of $55.95 and a twelve month high of $82.95. The firm has a market cap of $3,204.60, a PE ratio of 7.27, a P/E/G ratio of 0.66 and a beta of 1.82.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Investors of record on Friday, February 16th were given a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date was Thursday, February 15th. This is a positive change from Nexstar Media Group’s previous quarterly dividend of $0.30. Nexstar Media Group’s dividend payout ratio is currently 15.02%.
In related news, insider Gary Michael Vaughn sold 400 shares of the stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $71.32, for a total value of $28,528.00. Following the completion of the transaction, the insider now owns 7,140 shares in the company, valued at approximately $509,224.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Timothy C. Busch sold 10,000 shares of the stock in a transaction dated Wednesday, December 27th. The shares were sold at an average price of $79.13, for a total transaction of $791,300.00. Following the completion of the transaction, the insider now owns 50,214 shares of the company’s stock, valued at approximately $3,973,433.82. The disclosure for this sale can be found here. Insiders sold a total of 35,400 shares of company stock valued at $2,784,078 in the last quarter. 7.80% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in NXST. Cerebellum GP LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $132,000. Victory Capital Management Inc. bought a new position in shares of Nexstar Media Group during the 3rd quarter valued at about $172,000. Advisor Group Inc. boosted its position in shares of Nexstar Media Group by 86.5% during the 4th quarter. Advisor Group Inc. now owns 2,331 shares of the company’s stock valued at $183,000 after purchasing an additional 1,081 shares in the last quarter. Zeke Capital Advisors LLC bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $225,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in shares of Nexstar Media Group during the 4th quarter valued at about $237,000.
About Nexstar Media Group
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.
Receive News & Ratings for Nexstar Media Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nexstar Media Group and related companies with MarketBeat.com's FREE daily email newsletter.