Nexstar Media Group (NXST) Posts Earnings Results, Beats Estimates By $0.15 EPS

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Nexstar Media Group (NASDAQ:NXST) announced its quarterly earnings data on Thursday. The company reported $2.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.97 by $0.15, MarketWatch Earnings reports. The firm had revenue of $693.00 million during the quarter, compared to analysts’ expectations of $676.34 million. Nexstar Media Group had a net margin of 22.07% and a return on equity of 17.28%. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.98 earnings per share.

Shares of Nexstar Media Group stock opened at $81.01 on Friday. Nexstar Media Group has a 52-week low of $60.30 and a 52-week high of $89.75. The company has a quick ratio of 2.43, a current ratio of 2.43 and a debt-to-equity ratio of 2.59. The company has a market capitalization of $3.79 billion, a P/E ratio of 20.35, a PEG ratio of 1.03 and a beta of 1.76.

The company also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Friday, November 16th will be paid a $0.375 dividend. The ex-dividend date is Thursday, November 15th. This represents a $1.50 dividend on an annualized basis and a yield of 1.85%. Nexstar Media Group’s dividend payout ratio is currently 37.69%.

In related news, insider Andrew Alford sold 1,000 shares of Nexstar Media Group stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $82.30, for a total value of $82,300.00. Following the completion of the transaction, the insider now owns 370 shares in the company, valued at $30,451. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Blake Russell sold 7,262 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, September 26th. The stock was sold at an average price of $82.90, for a total transaction of $602,019.80. Following the completion of the transaction, the executive vice president now owns 31,950 shares of the company’s stock, valued at approximately $2,648,655. The disclosure for this sale can be found here. Insiders sold 21,950 shares of company stock valued at $1,796,747 in the last quarter. 6.40% of the stock is owned by insiders.

Institutional investors have recently modified their holdings of the stock. GAM Holding AG purchased a new position in Nexstar Media Group in the second quarter worth approximately $593,000. Caerus Investors LLC purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $2,196,000. King Luther Capital Management Corp purchased a new stake in shares of Nexstar Media Group during the 2nd quarter worth approximately $2,079,000. James Investment Research Inc. purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth approximately $2,274,000. Finally, Allianz Asset Management GmbH lifted its position in shares of Nexstar Media Group by 43.6% during the 1st quarter. Allianz Asset Management GmbH now owns 24,294 shares of the company’s stock worth $1,616,000 after buying an additional 7,377 shares during the last quarter.

A number of brokerages recently weighed in on NXST. ValuEngine cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Evercore ISI began coverage on shares of Nexstar Media Group in a report on Tuesday, July 31st. They issued an “in-line” rating and a $87.00 price objective for the company. Jefferies Financial Group restated a “buy” rating and issued a $87.00 price objective on shares of Nexstar Media Group in a report on Tuesday, July 24th. BidaskClub upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday, August 18th. Finally, Stephens set a $94.00 price objective on shares of Nexstar Media Group and gave the company a “buy” rating in a report on Thursday, August 9th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Nexstar Media Group currently has a consensus rating of “Buy” and an average price target of $91.70.

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About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. It focuses on the acquisition, development, and operation of television stations and interactive community Websites in medium-sized markets. The company offers free over-the-air programming to television viewing audiences.

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Earnings History for Nexstar Media Group (NASDAQ:NXST)

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