Nexstar Media Group Inc (NASDAQ:NXST) Expected to Announce Quarterly Sales of $652.80 Million
Equities analysts predict that Nexstar Media Group Inc (NASDAQ:NXST) will announce sales of $652.80 million for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Nexstar Media Group’s earnings, with estimates ranging from $651.60 million to $654.00 million. Nexstar Media Group posted sales of $660.32 million in the same quarter last year, which would indicate a negative year over year growth rate of 1.1%. The company is expected to issue its next earnings report before the market opens on Wednesday, August 7th.
On average, analysts expect that Nexstar Media Group will report full-year sales of $2.66 billion for the current financial year, with estimates ranging from $2.65 billion to $2.68 billion. For the next financial year, analysts expect that the business will report sales of $3.13 billion, with estimates ranging from $3.12 billion to $3.13 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for Nexstar Media Group.
Nexstar Media Group (NASDAQ:NXST) last released its earnings results on Wednesday, May 8th. The company reported $1.15 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a net margin of 14.26% and a return on equity of 23.08%. The company had revenue of $626.65 million during the quarter, compared to the consensus estimate of $640.35 million. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis.
Shares of NASDAQ NXST traded down $0.09 during mid-day trading on Friday, hitting $109.26. The company had a trading volume of 463,100 shares, compared to its average volume of 532,690. The company has a debt-to-equity ratio of 2.00, a quick ratio of 1.73 and a current ratio of 1.73. The firm’s 50-day moving average price is $102.58. Nexstar Media Group has a 12 month low of $70.09 and a 12 month high of $119.93. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 12.90, a P/E/G ratio of 1.66 and a beta of 1.50.
In other Nexstar Media Group news, Director Dennis Miller sold 625 shares of the firm’s stock in a transaction dated Friday, June 21st. The shares were sold at an average price of $102.17, for a total transaction of $63,856.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.40% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Nexstar Media Group by 1.6% during the fourth quarter. BlackRock Inc. now owns 3,107,402 shares of the company’s stock worth $244,367,000 after buying an additional 48,067 shares in the last quarter. Neuberger Berman Group LLC increased its holdings in shares of Nexstar Media Group by 0.5% during the first quarter. Neuberger Berman Group LLC now owns 2,846,218 shares of the company’s stock worth $308,445,000 after buying an additional 15,260 shares in the last quarter. FMR LLC increased its holdings in shares of Nexstar Media Group by 3.4% during the first quarter. FMR LLC now owns 2,555,664 shares of the company’s stock worth $276,957,000 after buying an additional 84,786 shares in the last quarter. Windacre Partnership LLC increased its holdings in shares of Nexstar Media Group by 92.2% during the fourth quarter. Windacre Partnership LLC now owns 2,524,900 shares of the company’s stock worth $198,558,000 after buying an additional 1,210,900 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in shares of Nexstar Media Group by 11.8% during the fourth quarter. Bank of America Corp DE now owns 1,012,263 shares of the company’s stock worth $79,604,000 after buying an additional 106,690 shares in the last quarter.
About Nexstar Media Group
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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