Nexstar Media Group (NASDAQ:NXST) Issues Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Nexstar Media Group (NASDAQ:NXST) released its earnings results on Thursday. The company reported $5.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.51 by ($0.24), Briefing.com reports. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The company had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.37 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis.

Nexstar Media Group Stock Performance

NASDAQ:NXST traded down $22.46 during trading hours on Friday, reaching $166.04. 1,148,131 shares of the stock were exchanged, compared to its average volume of 328,036. The stock has a market capitalization of $5.36 billion, a P/E ratio of 13.02, a P/E/G ratio of 0.20 and a beta of 1.48. The firm has a 50 day simple moving average of $168.63 and a 200-day simple moving average of $166.91. The company has a quick ratio of 1.78, a current ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group has a 52 week low of $140.92 and a 52 week high of $191.86.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a $1.69 dividend. This represents a $6.76 annualized dividend and a yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 53.14%.

Insider Activity

In related news, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction dated Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the completion of the sale, the insider now owns 9,173 shares of the company’s stock, valued at $1,539,412.86. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Andrew Alford sold 3,175 shares of the firm’s stock in a transaction that occurred on Tuesday, September 24th. The stock was sold at an average price of $167.82, for a total value of $532,828.50. Following the sale, the insider now directly owns 9,173 shares in the company, valued at $1,539,412.86. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jay M. Grossman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $170.70, for a total transaction of $1,707,000.00. Following the completion of the transaction, the director now owns 54,625 shares of the company’s stock, valued at approximately $9,324,487.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NXST shares. Wells Fargo & Company reduced their target price on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $200.00 to $190.00 in a research report on Friday. Barrington Research reissued an “outperform” rating and set a $200.00 price target on shares of Nexstar Media Group in a research report on Thursday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Guggenheim decreased their target price on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

About Nexstar Media Group

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.