Nexstar Media Group (NASDAQ:NXST) Releases Quarterly Earnings Results, Misses Expectations By $2.36 EPS

Nexstar Media Group (NASDAQ:NXST) posted its earnings results on Wednesday. The company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.51 by ($2.36), Fidelity Earnings reports. The business had revenue of $663.60 million during the quarter, compared to the consensus estimate of $644.00 million. Nexstar Media Group had a return on equity of 21.05% and a net margin of 13.61%. The firm’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.12 earnings per share.

Nexstar Media Group stock opened at $105.95 on Friday. Nexstar Media Group has a fifty-two week low of $70.51 and a fifty-two week high of $119.93. The stock has a market cap of $4.47 billion, a price-to-earnings ratio of 12.41, a PEG ratio of 1.53 and a beta of 1.44. The stock’s 50 day simple moving average is $99.92 and its two-hundred day simple moving average is $102.30. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.57 and a current ratio of 1.57.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 22nd. Shareholders of record on Friday, November 8th will be given a dividend of $0.45 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.80 annualized dividend and a yield of 1.70%. Nexstar Media Group’s payout ratio is 21.08%.

In related news, Director Charles Thomas Mcmillen sold 625 shares of the business’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $106.55, for a total value of $66,593.75. Following the completion of the transaction, the director now directly owns 3,750 shares in the company, valued at approximately $399,562.50. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.40% of the stock is owned by insiders.

Several analysts recently issued reports on NXST shares. Wells Fargo & Co started coverage on Nexstar Media Group in a research note on Monday, September 23rd. They issued a “market perform” rating and a $113.00 target price on the stock. Benchmark raised their target price on Nexstar Media Group from $135.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, September 23rd. ValuEngine raised Nexstar Media Group from a “sell” rating to a “hold” rating in a research note on Friday. Evercore ISI reissued a “buy” rating and issued a $116.00 target price on shares of Nexstar Media Group in a research note on Thursday, August 8th. Finally, Barrington Research reissued a “buy” rating and issued a $135.00 target price on shares of Nexstar Media Group in a research note on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $129.63.

About Nexstar Media Group

Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community Websites in small and medium-sized markets. It 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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