Nexstar Media Group (NXST) Releases Earnings Results, Beats Expectations By $0.15 EPS

Nexstar Media Group (NASDAQ:NXST) announced its earnings results on Thursday. The company reported $2.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.15, MarketWatch Earnings reports. The company 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%. Nexstar Media Group’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 earnings per share.

NXST stock traded down $0.46 during midday trading on Friday, reaching $80.94. The company had a trading volume of 15,276 shares, compared to its average volume of 524,731. The company has a market cap of $3.67 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 1.00 and a beta of 1.76. Nexstar Media Group has a 1-year low of $60.30 and a 1-year 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 business 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. This represents a $1.50 dividend on an annualized basis and a yield of 1.85%. The ex-dividend date of this dividend is Thursday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 37.69%.

In other Nexstar Media Group news, EVP Elizabeth Ryder sold 3,000 shares of the business’s stock in a transaction dated Monday, September 24th. The stock was sold at an average price of $82.70, for a total transaction of $248,100.00. Following the completion of the transaction, the executive vice president now owns 8,435 shares of the company’s stock, valued at $697,574.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Blake Russell sold 7,262 shares of the business’s stock in a transaction dated Wednesday, September 26th. The stock was sold at an average price of $82.90, for a total value of $602,019.80. Following the transaction, the executive vice president now directly owns 31,950 shares of the company’s stock, valued at approximately $2,648,655. The disclosure for this sale can be found here. In the last ninety days, insiders sold 21,950 shares of company stock valued at $1,796,747. 6.40% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. raised its stake in Nexstar Media Group by 7.3% during the second quarter. BlackRock Inc. now owns 3,015,019 shares of the company’s stock worth $221,304,000 after acquiring an additional 204,160 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Nexstar Media Group by 16.1% during the second quarter. Dimensional Fund Advisors LP now owns 1,862,138 shares of the company’s stock worth $136,684,000 after acquiring an additional 257,729 shares in the last quarter. Brown Advisory Inc. raised its stake in Nexstar Media Group by 36.8% during the second quarter. Brown Advisory Inc. now owns 1,083,408 shares of the company’s stock worth $79,523,000 after acquiring an additional 291,197 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in Nexstar Media Group by 5.0% during the second quarter. Deprince Race & Zollo Inc. now owns 672,089 shares of the company’s stock worth $49,331,000 after acquiring an additional 31,924 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in Nexstar Media Group by 20.6% during the second quarter. Glenmede Trust Co. NA now owns 639,159 shares of the company’s stock worth $46,914,000 after acquiring an additional 109,257 shares in the last quarter.

A number of equities research analysts have recently issued reports on the stock. ValuEngine cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. BidaskClub cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Thursday, September 20th. B. Riley boosted their target price on shares of Nexstar Media Group from $87.00 to $92.00 and gave the company a “buy” rating in a research report on Thursday, September 6th. Noble Financial downgraded Nexstar Media Group from a “buy” rating to a “hold” rating in a research note on Monday, August 20th. Finally, Stephens set a $94.00 price target on Nexstar Media Group and gave the company a “buy” rating in a research note on Thursday, August 9th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Nexstar Media Group presently has an average rating of “Buy” and an average target price of $91.70.

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Nexstar Media Group Company Profile

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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