Nexstar Media Group (NASDAQ:NXST) Announces Earnings Results

Nexstar Media Group (NASDAQ:NXST) posted its quarterly earnings results on Thursday. The company reported $5.27 EPS for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24), Briefing.com reports. Nexstar Media Group had a net margin of 8.68% and a return on equity of 18.65%. The firm had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same quarter in the previous year, the company earned $0.70 EPS. The company’s quarterly revenue was up 20.7% compared to the same quarter last year.

Nexstar Media Group Stock Down 11.9 %

Shares of NXST stock opened at $166.04 on Friday. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. Nexstar Media Group has a 12 month low of $140.92 and a 12 month high of $191.86. The stock has a market cap of $5.36 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.21 and a beta of 1.48. The company has a 50 day simple moving average of $168.54 and a two-hundred day simple moving average of $166.97.

Nexstar Media Group Announces Dividend

The firm 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 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Analysts Set New Price Targets

Several brokerages have commented on NXST. Benchmark reiterated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research note on Friday. Barrington Research reiterated an “outperform” rating and issued a $200.00 price objective on shares of Nexstar Media Group in a report on Thursday. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Wells Fargo & Company reduced 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 research note on Friday, August 9th. Finally, Loop Capital downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating and lowered their price objective for the company from $200.00 to $190.00 in a research report on Friday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Insider Transactions at Nexstar Media Group

In other news, CFO Lee Ann Gliha sold 984 shares of the company’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the sale, the chief financial officer now directly owns 8,107 shares in the company, valued at $1,277,906.41. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Lee Ann Gliha sold 984 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now directly owns 8,107 shares in the company, valued at approximately $1,277,906.41. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles Thomas Mcmillen sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now owns 7,725 shares in the company, valued at approximately $1,270,299. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 in the last 90 days. 6.30% of the stock is currently owned by insiders.

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.