Revenue Update on Nexstar Broadcasting Group(NASDAQ:NXST)

Nexstar Broadcasting Group(NASDAQ:NXST) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 9, 2016. Company reported revenue of $261.99M. Analysts estimated a revenue of $262.08M. Earnings per share were $0.78. Analysts had estimated an EPS of $0.85.

Nexstar Broadcasting Group (NXST) shares turned negative on Wednesdays trading session with the shares closing down -0.15 points or -0.28% at a volume of 2,91,762. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $54.25. The peak price level was also seen at $54.25 while the days lowest was $53.29. Finally the shares closed at $53.9. The 52-week high of the shares is $61.79 while the 52-week low is $34.65. According to the latest information available, the market cap of the company is $1,654 M.

Several Insider Transactions has been reported to the SEC. On Mar 2, 2016, Thomas Carter (CFO) purchased 1,000 shares at $44.55 per share price.Also, 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.

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