Nexstar Media Group (NASDAQ:NXST) Issues Quarterly Earnings Results

Nexstar Media Group (NASDAQ:NXST) announced its quarterly earnings data on Thursday. The company reported $5.27 earnings per share (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 company had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. During the same period last year, the business earned $0.70 earnings per share. The company’s quarterly revenue was up 20.7% compared to the same quarter last year.

Nexstar Media Group Stock Performance

NASDAQ NXST opened at $166.04 on Friday. The business’s 50 day moving average price is $168.54 and its 200-day moving average price is $166.97. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $191.86. The company 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 debt-to-equity ratio of 2.92, a quick ratio of 1.78 and a current ratio of 1.78.

Nexstar Media Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is 39.10%.

Insider Buying and Selling

In other Nexstar Media Group news, insider Andrew Alford sold 3,175 shares of the business’s stock in a transaction on Tuesday, September 24th. The shares were sold at an average price of $167.82, for a total transaction of $532,828.50. Following the transaction, the insider now owns 9,173 shares in the company, valued at $1,539,412.86. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Andrew Alford sold 3,175 shares of Nexstar Media Group 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 transaction, the insider now directly owns 9,173 shares of the company’s stock, valued at approximately $1,539,412.86. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gary Weitman sold 7,261 shares of the stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $164.80, for a total transaction of $1,196,612.80. Following the completion of the sale, the insider now directly owns 5,216 shares in the company, valued at $859,596.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 41,112 shares of company stock worth $6,887,029 over the last three months. 6.30% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on NXST. Benchmark restated a “buy” rating and set a $215.00 target price on shares of Nexstar Media Group in a research report on Friday. Guggenheim dropped their price objective on shares of Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a 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 note on Thursday. Finally, Loop Capital downgraded Nexstar Media Group from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $200.00 to $190.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $198.50.

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.