B. Riley Comments on Nexstar Media Group Inc’s FY2018 Earnings (NASDAQ:NXST)

Nexstar Media Group Inc (NASDAQ:NXST) – Stock analysts at B. Riley upped their FY2018 earnings per share (EPS) estimates for Nexstar Media Group in a research report issued on Tuesday, according to Zacks Investment Research. B. Riley analyst B. Crockett now expects that the company will post earnings of $8.67 per share for the year, up from their previous estimate of $7.22. B. Riley currently has a “Buy” rating and a $84.00 target price on the stock.

Several other analysts also recently issued reports on NXST. Zacks Investment Research downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. Guggenheim started coverage on Nexstar Media Group in a research note on Wednesday, October 18th. They set a “buy” rating and a $90.00 target price on the stock. Deutsche Bank began coverage on Nexstar Media Group in a research note on Friday, October 20th. They set a “buy” rating and a $80.00 target price on the stock. FBR & Co began coverage on Nexstar Media Group in a report on Tuesday, October 31st. They set a “buy” rating and a $79.00 price target for the company. Finally, BidaskClub upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Thursday, December 7th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus target price of $86.60.

Shares of Nexstar Media Group (NASDAQ:NXST) traded down $0.30 on Thursday, reaching $71.05. The company had a trading volume of 758,082 shares, compared to its average volume of 514,231. The company has a market cap of $3,237.46, a P/E ratio of 26.71, a PEG ratio of 0.68 and a beta of 1.83. Nexstar Media Group has a 52 week low of $55.95 and a 52 week high of $82.95. The company has a debt-to-equity ratio of 3.58, a current ratio of 1.35 and a quick ratio of 1.35.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 16th will be issued a $0.375 dividend. This is a boost from Nexstar Media Group’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend is Thursday, February 15th. This represents a $1.50 dividend on an annualized basis and a dividend yield of 2.11%. Nexstar Media Group’s payout ratio is 45.11%.

In other news, EVP Elizabeth Ryder sold 3,000 shares of Nexstar Media Group stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $65.87, for a total value of $197,610.00. Following the completion of the transaction, the executive vice president now owns 5,210 shares in the company, valued at approximately $343,182.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Blake Russell sold 20,000 shares of Nexstar Media Group stock in a transaction that occurred on Friday, December 22nd. The stock was sold at an average price of $78.31, for a total value of $1,566,200.00. Following the completion of the transaction, the senior vice president now owns 42,861 shares of the company’s stock, valued at approximately $3,356,444.91. The disclosure for this sale can be found here. In the last quarter, insiders sold 40,610 shares of company stock valued at $3,129,294. Company insiders own 7.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of NXST. Schwab Charles Investment Management Inc. boosted its holdings in Nexstar Media Group by 7.3% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 193,509 shares of the company’s stock valued at $11,572,000 after acquiring an additional 13,228 shares during the period. SG Americas Securities LLC boosted its holdings in Nexstar Media Group by 29.8% during the 2nd quarter. SG Americas Securities LLC now owns 3,418 shares of the company’s stock valued at $204,000 after acquiring an additional 785 shares during the period. Legal & General Group Plc boosted its holdings in Nexstar Media Group by 14.1% during the 2nd quarter. Legal & General Group Plc now owns 16,693 shares of the company’s stock valued at $1,000,000 after acquiring an additional 2,068 shares during the period. Principal Financial Group Inc. boosted its holdings in Nexstar Media Group by 976.3% during the 2nd quarter. Principal Financial Group Inc. now owns 238,612 shares of the company’s stock valued at $14,269,000 after acquiring an additional 216,443 shares during the period. Finally, Swiss National Bank boosted its holdings in Nexstar Media Group by 1.8% during the 2nd quarter. Swiss National Bank now owns 74,560 shares of the company’s stock valued at $4,459,000 after acquiring an additional 1,300 shares during the period.

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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.

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