Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Stock analysts at Jefferies Group lifted their FY2018 earnings estimates for Nexstar Broadcasting Group in a report issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the company will earn $7.76 per share for the year, up from their prior forecast of $7.26. Jefferies Group currently has a “Buy” rating and a $80.00 price objective on the stock. Jefferies Group also issued estimates for Nexstar Broadcasting Group’s Q1 2019 earnings at $1.57 EPS, Q2 2019 earnings at $1.79 EPS and Q3 2019 earnings at $1.57 EPS.

Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.98 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.09. The firm had revenue of $611.87 million for the quarter, compared to analysts’ expectations of $609.44 million. Nexstar Broadcasting Group had a net margin of 5.60% and a return on equity of 16.20%. The business’s revenue for the quarter was up 122.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.78 earnings per share.

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Several other brokerages have also recently issued reports on NXST. B. Riley increased their target price on shares of Nexstar Broadcasting Group from $79.00 to $84.00 and gave the stock a “buy” rating in a report on Tuesday. Deutsche Bank AG increased their target price on shares of Nexstar Broadcasting Group from $80.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday. Royal Bank Of Canada reiterated an “outperform” rating and set a $81.00 target price (down from $83.00) on shares of Nexstar Broadcasting Group in a report on Thursday, August 10th. BidaskClub upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a report on Friday, August 11th. Finally, Zacks Investment Research upgraded shares of Nexstar Broadcasting Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 18th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $80.91.

Shares of Nexstar Broadcasting Group (NASDAQ NXST) traded down $0.55 during trading on Wednesday, reaching $65.65. 780,568 shares of the company’s stock traded hands, compared to its average volume of 720,562. The company has a current ratio of 1.35, a quick ratio of 1.36 and a debt-to-equity ratio of 3.58. Nexstar Broadcasting Group has a one year low of $55.00 and a one year high of $73.90. The company has a market cap of $3,140.00, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.43 and a beta of 2.24.

Several institutional investors have recently made changes to their positions in the stock. Wells Fargo & Company MN raised its position in shares of Nexstar Broadcasting Group by 3.4% in the 3rd quarter. Wells Fargo & Company MN now owns 403,890 shares of the company’s stock valued at $25,162,000 after purchasing an additional 13,448 shares during the last quarter. Trexquant Investment LP purchased a new position in shares of Nexstar Broadcasting Group in the 3rd quarter valued at approximately $490,000. JPMorgan Chase & Co. raised its position in shares of Nexstar Broadcasting Group by 9.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,756,748 shares of the company’s stock valued at $109,270,000 after purchasing an additional 158,626 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new position in shares of Nexstar Broadcasting Group in the 3rd quarter valued at approximately $554,000. Finally, Legal & General Group Plc raised its position in shares of Nexstar Broadcasting Group by 22.8% in the 3rd quarter. Legal & General Group Plc now owns 20,504 shares of the company’s stock valued at $1,276,000 after purchasing an additional 3,811 shares during the last quarter.

In other news, insider Julie Pruett sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $60.01, for a total value of $180,030.00. Following the sale, the insider now directly owns 11,985 shares in the company, valued at approximately $719,219.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John R. Muse sold 641,240 shares of the firm’s stock in a transaction dated Thursday, September 28th. The shares were sold at an average price of $60.10, for a total transaction of $38,538,524.00. The disclosure for this sale can be found here. Insiders sold a total of 970,307 shares of company stock worth $58,146,660 over the last 90 days. Company insiders own 7.80% of the company’s stock.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Thursday, November 16th. Nexstar Broadcasting Group’s dividend payout ratio is currently 44.94%.

About Nexstar Broadcasting 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.

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

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