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 late November 2017.
In immediate after-hours trading, Nexstar was trading at $67.99, up from a close of $67.65 — reflecting a 60 cent loss from Tuesday.
It’s a sobering finish for Nexstar, which has a 1-year Target Estimate of $95.80 yet hasn’t finished above $82.95 in the last 52 weeks.
Could Nexstar’s Q4 earnings results have something to do with its stock ills?
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.