Nexstar Media Group (NASDAQ:NXST) Posts Quarterly Earnings Results, Beats Estimates By $1.31 EPS


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Nexstar Media Group (NASDAQ:NXST) posted its earnings results on Tuesday. The company reported $4.42 earnings per share for the quarter, beating the consensus estimate of $3.11 by $1.31, MarketWatch Earnings reports. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.13 billion. Nexstar Media Group had a net margin of 13.27% and a return on equity of 25.99%. The business’s quarterly revenue was up 3.7% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 EPS.

Shares of NXST stock traded up $0.63 on Tuesday, hitting $149.01. 15,947 shares of the stock traded hands, compared to its average volume of 485,910. The firm’s 50-day moving average price is $149.46 and its two-hundred day moving average price is $121.05. The company has a debt-to-equity ratio of 3.49, a quick ratio of 2.00 and a current ratio of 2.00. The stock has a market capitalization of $6.46 billion, a PE ratio of 12.50, a PEG ratio of 0.84 and a beta of 1.92. Nexstar Media Group has a twelve month low of $62.81 and a twelve month high of $163.62.

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 28th. Stockholders of record on Friday, May 14th will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a dividend yield of 1.88%. The ex-dividend date is Thursday, May 13th. Nexstar Media Group’s payout ratio is 55.56%.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Company boosted their price target on shares of Nexstar Media Group from $143.00 to $170.00 and gave the stock an “overweight” rating in a report on Tuesday, March 2nd. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $138.00.

In other Nexstar Media Group news, EVP Blake Russell sold 756 shares of the company’s stock in a transaction dated Tuesday, March 23rd. The shares were sold at an average price of $151.36, for a total value of $114,428.16. Following the transaction, the executive vice president now owns 29,983 shares of the company’s stock, valued at $4,538,226.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Timothy C. Busch sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 4th. The shares were sold at an average price of $145.33, for a total transaction of $726,650.00. Following the completion of the transaction, the insider now directly owns 101,597 shares in the company, valued at approximately $14,765,092.01. The disclosure for this sale can be found here. In the last three months, insiders have sold 133,228 shares of company stock worth $20,353,973. Corporate insiders own 6.70% of the company’s stock.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.

See Also: Special Purpose Acquisition Company (SPAC)

Earnings History for Nexstar Media Group (NASDAQ:NXST)

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