Barrington Research Weighs in on Nexstar Media Group, Inc.’s FY2024 Earnings (NASDAQ:NXST)

Nexstar Media Group, Inc. (NASDAQ:NXST) – Analysts at Barrington Research cut their FY2024 earnings estimates for Nexstar Media Group in a research report issued on Thursday, August 8th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $26.69 per share for the year, down from their prior estimate of $26.75. Barrington Research currently has a “Outperform” rating and a $200.00 target price on the stock. The consensus estimate for Nexstar Media Group’s current full-year earnings is $27.62 per share. Barrington Research also issued estimates for Nexstar Media Group’s FY2025 earnings at $16.56 EPS.

A number of other analysts have also issued reports on the stock. Loop Capital upgraded shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Wells Fargo & Company decreased their price objective 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, August 9th. Benchmark reissued a “buy” rating and set a $225.00 target price on shares of Nexstar Media Group in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft decreased 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, August 9th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $201.67.

Nexstar Media Group Stock Performance

Shares of NXST opened at $157.30 on Monday. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 13.31, a PEG ratio of 0.65 and a beta of 1.50. The company has a quick ratio of 1.80, a current ratio of 1.80 and a debt-to-equity ratio of 2.85. The business’s 50 day moving average is $166.46 and its two-hundred day moving average is $166.28. Nexstar Media Group has a 52-week low of $132.30 and a 52-week high of $187.27.

Nexstar Media Group (NASDAQ:NXST) last announced its earnings results on Thursday, August 8th. The company reported $3.54 earnings per share for the quarter, missing the consensus estimate of $4.48 by ($0.94). Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The business had revenue of $1.27 billion for the quarter, compared to analyst estimates of $1.28 billion. During the same quarter in the prior year, the business earned $2.64 earnings per share. The firm’s revenue was up 2.3% on a year-over-year basis.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Investors of record on Friday, August 9th will be given a $1.69 dividend. The ex-dividend date of this dividend is Friday, August 9th. This represents a $6.76 annualized dividend and a yield of 4.30%. Nexstar Media Group’s dividend payout ratio is presently 57.19%.

Insiders Place Their Bets

In related news, EVP Blake Russell sold 433 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Gary Weitman sold 522 shares of the firm’s stock in a transaction on Monday, June 17th. The stock was sold at an average price of $149.08, for a total transaction of $77,819.76. Following the completion of the sale, the insider now directly owns 12,477 shares of the company’s stock, valued at approximately $1,860,071.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Blake Russell sold 433 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $167.43, for a total value of $72,497.19. Following the sale, the executive vice president now directly owns 25,537 shares in the company, valued at $4,275,659.91. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,826 shares of company stock worth $1,080,597. Insiders own 5.90% of the company’s stock.

Hedge Funds Weigh In On Nexstar Media Group

A number of institutional investors have recently bought and sold shares of NXST. Whittier Trust Co. acquired a new stake in Nexstar Media Group during the second quarter valued at $27,000. EverSource Wealth Advisors LLC increased its position in shares of Nexstar Media Group by 632.1% during the fourth quarter. EverSource Wealth Advisors LLC now owns 205 shares of the company’s stock valued at $32,000 after purchasing an additional 177 shares during the period. First United Bank & Trust acquired a new position in shares of Nexstar Media Group in the fourth quarter valued at $33,000. SRS Capital Advisors Inc. lifted its position in Nexstar Media Group by 350.9% in the fourth quarter. SRS Capital Advisors Inc. now owns 239 shares of the company’s stock worth $37,000 after purchasing an additional 186 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its stake in Nexstar Media Group by 3,700.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after acquiring an additional 259 shares during the period. Hedge funds and other institutional investors own 95.30% 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.