Nexstar Media Group (NASDAQ:NXST) Announces Earnings Results

Nexstar Media Group (NASDAQ:NXST) posted its quarterly earnings results on Wednesday, August 7th. The company reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.04, Briefing.com reports. The business had revenue of $649.01 million for the quarter, compared to analysts’ expectations of $653.00 million. Nexstar Media Group had a return on equity of 21.05% and a net margin of 13.61%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 earnings per share.

Shares of NXST opened at $91.24 on Friday. The stock has a market cap of $4.58 billion, a P/E ratio of 10.68, a price-to-earnings-growth ratio of 1.57 and a beta of 1.47. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.88. The stock’s 50-day moving average price is $102.75 and its two-hundred day moving average price is $103.13. Nexstar Media Group has a 1 year low of $70.09 and a 1 year high of $119.93.

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Friday, August 9th will be issued a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, August 8th. Nexstar Media Group’s dividend payout ratio (DPR) is currently 21.08%.

Several equities analysts recently issued reports on the company. Zacks Investment Research cut Nexstar Media Group from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine cut Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barrington Research restated a “buy” rating and set a $135.00 target price on shares of Nexstar Media Group in a report on Wednesday, August 7th. BidaskClub upgraded Nexstar Media Group from a “sell” rating to a “hold” rating in a report on Tuesday, July 2nd. Finally, Evercore ISI restated a “buy” rating and set a $116.00 target price on shares of Nexstar Media Group in a report on Thursday, August 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Nexstar Media Group currently has a consensus rating of “Buy” and a consensus price target of $121.29.

In other news, Director Dennis Miller sold 625 shares of the firm’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $102.17, for a total transaction of $63,856.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.40% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Hanseatic Management Services Inc. boosted its stake in Nexstar Media Group by 6.1% in the 2nd quarter. Hanseatic Management Services Inc. now owns 1,714 shares of the company’s stock valued at $173,000 after purchasing an additional 98 shares during the period. Private Capital Group LLC boosted its stake in Nexstar Media Group by 46.3% in the 1st quarter. Private Capital Group LLC now owns 392 shares of the company’s stock valued at $42,000 after purchasing an additional 124 shares during the period. Miles Capital Inc. boosted its stake in Nexstar Media Group by 7.1% in the 2nd quarter. Miles Capital Inc. now owns 2,143 shares of the company’s stock valued at $216,000 after purchasing an additional 142 shares during the period. First National Bank of Omaha boosted its stake in Nexstar Media Group by 0.7% in the 1st quarter. First National Bank of Omaha now owns 24,419 shares of the company’s stock valued at $2,646,000 after purchasing an additional 163 shares during the period. Finally, Legacy Bridge LLC bought a new stake in Nexstar Media Group in the 1st quarter valued at $26,000.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.

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Earnings History for Nexstar Media Group (NASDAQ:NXST)

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