Nexstar Media Group (NASDAQ:NXST) Announces Earnings Results

Nexstar Media Group (NASDAQ:NXST) released its quarterly earnings data on Thursday. The company reported $3.54 EPS for the quarter, missing analysts’ consensus estimates of $4.48 by ($0.94), Briefing.com reports. The business had revenue of $1.27 billion during the quarter, compared to analyst estimates of $1.28 billion. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm’s revenue was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.64 EPS.

Nexstar Media Group Trading Down 3.2 %

Nexstar Media Group stock traded down $5.26 during trading on Friday, hitting $158.29. The company had a trading volume of 370,821 shares, compared to its average volume of 345,158. Nexstar Media Group has a 1-year low of $132.30 and a 1-year high of $187.27. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. The company’s 50 day simple moving average is $166.80 and its 200-day simple moving average is $166.81. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 13.47, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50.

Nexstar Media Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be issued a $1.69 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.27%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 57.19%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NXST shares. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a report on Friday, May 10th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a report on Friday. Barrington Research restated an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a report on Thursday. Benchmark restated a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a report on Friday. Finally, Wells Fargo & Company cut their price target on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Nexstar Media Group has an average rating of “Moderate Buy” and a consensus target price of $201.67.

Insider Activity at Nexstar Media Group

In related news, CFO Lee Ann Gliha sold 747 shares of Nexstar Media Group stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total value of $111,362.76. Following the completion of the sale, the chief financial officer now owns 6,591 shares in the company, valued at approximately $982,586.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $166.08, for a total value of $244,968.00. Following the completion of the transaction, the director now owns 6,175 shares of the company’s stock, valued at approximately $1,025,544. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lee Ann Gliha sold 747 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $149.08, for a total transaction of $111,362.76. Following the completion of the transaction, the chief financial officer now directly owns 6,591 shares of the company’s stock, valued at approximately $982,586.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.