A Painful Wall Street Week For Nexstar

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A slide in share value for Nexstar Media Group that started in mid-January did not stop for the broadcast TV company on Thursday. It continued into Friday, with shares at the Closing Bell dipping another 2.2% to $64.95.


On Thursday, Nexstar shares had slipped 1.9%, to $66.40.

Friday’s drop puts Nexstar stock at its lowest closing price since the first days of November 2017.

It’s been a rough 3 1/2 months on Wall Street for Nexstar Media Group.

After climbing as high as $81.75 on January 15, the broadcast TV company’s shares have stumbled. With Wednesday’s finish, Nexstar has now effectively wiped out any growth in its share price seen since traders were planning their Thanksgiving holiday.

Nexstar has a 1-year Target Estimate of $95.80 yet hasn’t finished above $82.95 in the last 52 weeks.

Nexstar’s Q4 earnings results may have something to do with its stock slump.

Nexstar beat Wall Street estimates by reporting non-comparable net revenue of $653.7 million, compared to $309.9 million in Q4 2017.

When adjusted for pretax gains, Nexstar saw EPS of $1.61. That bested the average estimate of six analysts surveyed by Zacks Investment Research of $1.42 per share.

Nexstar also beat the average estimate on revenue from the six analysts surveyed by Zacks, as they expected $645.3 million.