Nexstar Broadcasting Group (NXST) reported quarterly earnings results on Tuesday, May-3-2016. The company said it had a profit of $0.69 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.67. The company posted revenue of $255.70 million in the period, compared to analysts expectations of $248.57 million. The company’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.
Many Wall Street Analysts have commented on Nexstar Broadcasting Group. Company shares were Reiterated by The Benchmark Company on Apr 18, 2016 to “Buy”, Firm has raised the Price Target to $ 70 from a previous price target of $66 .
Nexstar Broadcasting Group opened for trading at $51.4 and hit $52.95 on the upside on Monday, eventually ending the session at $52.53, with a gain of 2.34% or 1.2 points. The heightened volatility saw the trading volume jump to 7,72,119 shares. Company has a market cap of $1,612 M.
In a different news, on Mar 2, 2016, Thomas Carter (CFO) purchased 1,000 shares at $44.55 per share price. According to the SEC, on Dec 11, 2015, Blake Russell (SVP, Station Operations) sold 7,000 shares at $57.80 per share price. On Sep 29, 2015, Julie Pruett (SVP and Regional Manager) sold 4,710 shares at $44.77 per share price, according to the Form-4 filing with the securities and exchange commission.
Nexstar Broadcasting Group Inc. is a television broadcasting and digital media company focused on the acquisition development and operation of television stations and interactive community Websites in medium-sized markets in the United States. As of December 31 2014 the Company owned operated programmed or provided sales and other services to 87 television stations and 26 digital multicast channels in 49 markets in the states of Illinois Indiana Maryland Missouri Montana Tennessee Texas Pennsylvania Louisiana Arkansas Alabama New York Florida Wisconsin Michigan Utah Vermont California Iowa Colorado and Virginia. The stations the Company owns and operates or provides services to provide free over-the-air programming to its markets’ television viewing audiences. This programming includes programs produced by networks with which the stations are affiliated; programs that the stations produce and first-run and rerun syndicated programs that the stations acquire.