Nexstar Media Group Inc (NASDAQ:NXST) – Investment analysts at B. Riley decreased their Q2 2019 earnings estimates for Nexstar Media Group in a report issued on Tuesday, April 30th, according to Zacks Investment Research. B. Riley analyst Z. Silver now expects that the company will earn $1.53 per share for the quarter, down from their prior estimate of $1.55. B. Riley currently has a “Buy” rating and a $139.00 price target on the stock. B. Riley also issued estimates for Nexstar Media Group’s Q3 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.71 EPS, FY2019 earnings at $7.48 EPS, FY2020 earnings at $12.63 EPS and FY2021 earnings at $9.13 EPS.
NXST has been the topic of several other reports. BidaskClub lowered shares of Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Benchmark reiterated a “buy” rating and issued a $120.00 price objective (up from $115.00) on shares of Nexstar Media Group in a research report on Thursday, March 21st. Zacks Investment Research lowered shares of Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. ValuEngine upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Finally, Barrington Research reissued a “buy” rating and issued a $110.00 target price on shares of Nexstar Media Group in a research note on Tuesday, February 26th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $113.13.
Nexstar Media Group (NASDAQ:NXST) last released its quarterly earnings data on Wednesday, May 8th. The company reported $1.15 EPS for the quarter, missing the consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The business had revenue of $626.65 million during the quarter, compared to analysts’ expectations of $640.35 million. During the same quarter in the prior year, the firm earned $1.01 earnings per share. Nexstar Media Group’s quarterly revenue was up 1.8% on a year-over-year basis.
The company also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s payout ratio is 21.08%.
In related news, CFO Thomas Carter sold 2,500 shares of the business’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $108.23, for a total value of $270,575.00. Following the completion of the transaction, the chief financial officer now owns 100,689 shares of the company’s stock, valued at approximately $10,897,570.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dennis Miller sold 3,125 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $72.31, for a total transaction of $225,968.75. The disclosure for this sale can be found here. Insiders sold a total of 48,573 shares of company stock valued at $5,142,132 in the last three months. 6.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of NXST. Windacre Partnership LLC increased its stake in shares of Nexstar Media Group by 92.2% during the 4th quarter. Windacre Partnership LLC now owns 2,524,900 shares of the company’s stock valued at $198,558,000 after acquiring an additional 1,210,900 shares during the last quarter. Baupost Group LLC MA acquired a new position in shares of Nexstar Media Group during the 4th quarter valued at about $74,708,000. FMR LLC increased its stake in shares of Nexstar Media Group by 29.7% during the 4th quarter. FMR LLC now owns 2,470,878 shares of the company’s stock valued at $194,310,000 after acquiring an additional 565,758 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Nexstar Media Group by 855.1% during the 1st quarter. Renaissance Technologies LLC now owns 509,105 shares of the company’s stock valued at $55,172,000 after acquiring an additional 455,800 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Nexstar Media Group during the 4th quarter valued at about $32,936,000.
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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