Nexstar Media Group shares were up a healthy 7.5% in Monday’s trading on word that it has reached a Time Brokerage Agreement allowing it to control what will become on February 1 the Phoenix affiliate of The CW Network.
As news of that arrangement became known, Nexstar also revealed when it will report its 2023 fourth quarter and full-year financial results.
The company founded and led by President/CEO Perry Sook will host its Q4 and FY2023 earnings call on Wednesday, February 28.
The earnings call, which will be webcast, will begin at 10am Eastern.
What do the 7 analysts polled by Yahoo! Finance predict, with respect to Nexstar’s Q4 finish? They’ve pegged the earnings to come in at $4.06 per share, down from $5.30.
The revenue estimate stands at $1.32 billion.
The last 12 months have been a bit of a rollercoaster ride for Nexstar shareholders. In early January, shares topped the $209 mark, reaching a record high. Fears of an economic and advertising slowdown pushed NXST, which trades on the Nasdaq GlobalSelect market, down below $134 per share as September 2023 began. By mid-December, NXST was trading in the high $150 range.
Then, suddenly, Nexstar shares burst ahead, starting on Friday.
