Nexstar Media Group (NASDAQ:NXST) Releases Earnings Results, Misses Expectations By $1.66 EPS

Nexstar Media Group (NASDAQ:NXST) posted its quarterly earnings results on Thursday. The company reported $7.56 earnings per share for the quarter, missing analysts’ consensus estimates of $9.22 by ($1.66), Zacks reports. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. The business had revenue of $1.49 billion during the quarter, compared to analysts’ expectations of $1.48 billion.

Nexstar Media Group Trading Up 4.0 %

NXST stock traded up $6.57 during trading on Friday, reaching $169.15. 1,153,380 shares of the stock traded hands, compared to its average volume of 339,215. The business’s 50 day moving average price is $155.08 and its 200-day moving average price is $163.29. Nexstar Media Group has a 52-week low of $146.04 and a 52-week high of $191.86. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The firm has a market capitalization of $5.25 billion, a PE ratio of 9.78, a P/E/G ratio of 0.45 and a beta of 1.45.

Nexstar Media Group Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were given a dividend of $1.86 per share. This represents a $7.44 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date of this dividend was Wednesday, February 12th. This is an increase from Nexstar Media Group’s previous quarterly dividend of $1.69. Nexstar Media Group’s payout ratio is 43.03%.

Wall Street Analyst Weigh In

A number of research firms have commented on NXST. Guggenheim boosted their target price on Nexstar Media Group from $210.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday. Benchmark boosted their target price on Nexstar Media Group from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Barrington Research reissued an “outperform” rating and issued a $200.00 price target on shares of Nexstar Media Group in a report on Thursday. Finally, Loop Capital upgraded Nexstar Media Group from a “hold” rating to a “buy” rating and upped their target price for the company from $190.00 to $200.00 in a research note on Friday. Eight investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $210.29.

Insider Buying and Selling at Nexstar Media Group

In other Nexstar Media Group news, Director Charles Thomas Mcmillen sold 750 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $159.93, for a total transaction of $119,947.50. Following the sale, the director now owns 6,975 shares in the company, valued at $1,115,511.75. This represents a 9.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Perry A. Sook sold 35,205 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $162.13, for a total value of $5,707,786.65. Following the sale, the chief executive officer now owns 674,694 shares in the company, valued at $109,388,138.22. The trade was a 4.96 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 127,493 shares of company stock valued at $20,354,366. Company insiders own 6.30% of the company’s stock.

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.