Nexstar Media Group (NASDAQ:NXST) Announces Quarterly Earnings Results, Misses Estimates By $0.24 EPS

Nexstar Media Group (NASDAQ:NXST) posted its quarterly earnings results 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. The business had revenue of $1.37 billion for the quarter, compared to analysts’ expectations of $1.37 billion. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The business’s quarterly revenue was up 20.7% compared to the same quarter last year. During the same period in the prior year, the business posted $0.70 earnings per share.

Nexstar Media Group Trading Down 12.3 %

NXST traded down $23.16 during trading hours on Friday, reaching $165.34. The company’s stock had a trading volume of 967,912 shares, compared to its average volume of 327,290. The business’s 50-day moving average is $168.63 and its 200-day moving average is $166.91. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78. The stock has a market cap of $5.33 billion, a PE ratio of 13.02, a P/E/G ratio of 0.20 and a beta of 1.48. Nexstar Media Group has a fifty-two week low of $140.92 and a fifty-two week high of $191.86.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be given a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 4.09%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group’s payout ratio is currently 53.14%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company cut their target price 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. Barrington Research reissued an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research note on Thursday. Deutsche Bank Aktiengesellschaft cut their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 9th. Benchmark reissued a “buy” rating and issued a $215.00 price objective on shares of Nexstar Media Group in a report on Friday. Finally, Guggenheim decreased their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a research report on Friday, October 4th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Nexstar Media Group has a consensus rating of “Moderate Buy” and a consensus target price of $198.50.

Insider Buying and Selling at Nexstar Media Group

In related news, insider Gary Weitman sold 7,261 shares of the firm’s 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 of the company’s stock, valued at approximately $859,596.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Nexstar Media Group news, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.80, for a total value of $1,196,612.80. Following the sale, the insider now owns 5,216 shares of the company’s stock, valued at $859,596.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The disclosure for this sale can be found here. Insiders have sold 41,112 shares of company stock worth $6,887,029 over the last quarter. 6.30% of the stock is currently owned by company insiders.

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.