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

Nexstar Media Group (NASDAQ:NXST) announced its earnings results on Thursday. The company reported $5.27 earnings per share for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24), Briefing.com reports. Nexstar Media Group had a return on equity of 18.65% and a net margin of 8.68%. The firm had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the business posted $0.70 EPS. Nexstar Media Group’s revenue for the quarter was up 20.7% on a year-over-year basis.

Nexstar Media Group Trading Down 11.9 %

Shares of NXST stock opened at $166.04 on Friday. The stock has a 50-day moving average of $168.54 and a 200-day moving average of $166.94. The company has a current ratio of 1.78, a quick ratio of 1.78 and a debt-to-equity ratio of 2.92. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 13.05, a PEG ratio of 0.21 and a beta of 1.48. Nexstar Media Group has a 1-year low of $140.92 and a 1-year high of $191.86.

Nexstar Media Group Announces Dividend

The business also recently announced 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 4.07%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio is currently 53.14%.

Insider Buying and Selling at Nexstar Media Group

In other news, insider Gary Weitman sold 7,261 shares of the company’s stock in a transaction on Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value of $1,196,612.80. Following the sale, the insider now directly owns 5,216 shares of the company’s stock, valued at approximately $859,596.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Nexstar Media Group news, insider Sean Compton sold 3,930 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $160.61, for a total value of $631,197.30. Following the completion of the sale, the insider now directly owns 10,684 shares in the company, valued at approximately $1,715,957.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gary Weitman sold 7,261 shares of the business’s stock in a transaction dated Thursday, September 26th. The shares were sold at an average price of $164.80, for a total value 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 $859,596.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,112 shares of company stock valued at $6,887,029. 6.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NXST. Guggenheim decreased their target price on shares of 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. Barrington Research reissued an “outperform” rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Loop Capital cut Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $200.00 to $190.00 in a research note on Friday. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.