Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) Forecasted to Earn Q3 2017 Earnings of $0.97 Per Share
Nexstar Broadcasting Group, Inc. (NASDAQ:NXST) – Equities research analysts at Jefferies Group boosted their Q3 2017 EPS estimates for Nexstar Broadcasting Group in a research note issued on Tuesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings per share of $0.97 for the quarter, up from their prior estimate of $0.95. Jefferies Group also issued estimates for Nexstar Broadcasting Group’s Q4 2017 earnings at $1.98 EPS, FY2017 earnings at $4.04 EPS, Q1 2018 earnings at $1.22 EPS, Q2 2018 earnings at $1.42 EPS, Q3 2018 earnings at $1.47 EPS, Q4 2018 earnings at $2.86 EPS, FY2018 earnings at $6.97 EPS and FY2019 earnings at $6.47 EPS.
Nexstar Broadcasting Group (NASDAQ:NXST) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.01. The firm had revenue of $626.11 million during the quarter, compared to the consensus estimate of $608.23 million. Nexstar Broadcasting Group had a net margin of 5.44% and a return on equity of 23.10%. The business’s revenue for the quarter was up 139.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.78 EPS.
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A number of other analysts also recently issued reports on NXST. BidaskClub downgraded shares of Nexstar Broadcasting Group from a “buy” rating to a “hold” rating in a report on Saturday, August 5th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $81.00 target price (down previously from $83.00) on shares of Nexstar Broadcasting Group in a research note on Thursday. Zacks Investment Research downgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Wells Fargo & Company reiterated an “outperform” rating and issued a $85.00 target price on shares of Nexstar Broadcasting Group in a research note on Friday, July 14th. Finally, ValuEngine upgraded shares of Nexstar Broadcasting Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $77.75.
Shares of Nexstar Broadcasting Group (NASDAQ NXST) opened at 63.65 on Friday. The company has a market cap of $3.01 billion, a P/E ratio of 26.18 and a beta of 2.31. The firm has a 50-day moving average of $62.39 and a 200-day moving average of $64.65. Nexstar Broadcasting Group has a 12-month low of $47.00 and a 12-month high of $73.90.
Institutional investors have recently bought and sold shares of the company. Dubuque Bank & Trust Co. acquired a new position in Nexstar Broadcasting Group during the first quarter valued at $329,000. First Quadrant L P CA acquired a new position in Nexstar Broadcasting Group during the first quarter valued at $391,000. Independent Portfolio Consultants Inc. increased its position in Nexstar Broadcasting Group by 21.2% in the first quarter. Independent Portfolio Consultants Inc. now owns 19,150 shares of the company’s stock valued at $1,343,000 after buying an additional 3,350 shares during the last quarter. ProShare Advisors LLC increased its position in Nexstar Broadcasting Group by 4.3% in the first quarter. ProShare Advisors LLC now owns 5,002 shares of the company’s stock valued at $351,000 after buying an additional 207 shares during the last quarter. Finally, Nationwide Fund Advisors increased its position in Nexstar Broadcasting Group by 38.3% in the first quarter. Nationwide Fund Advisors now owns 25,884 shares of the company’s stock valued at $1,816,000 after buying an additional 7,164 shares during the last quarter.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Friday, August 11th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, August 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.89%. Nexstar Broadcasting Group’s payout ratio is 48.78%.
Nexstar Broadcasting Group declared that its Board of Directors has approved a stock repurchase plan on Monday, June 12th that permits the company to buyback $51.30 million in shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its shares are undervalued.
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.
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