NXST FY2024 EPS Forecast Lowered by Barrington Research

Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) - Investment analysts at Barrington Research dropped their FY2024 earnings per share (EPS) estimates for shares of Nexstar Media Group in a report issued on Tuesday, November 12th. Barrington Research analyst J. Goss now expects that the company will earn $21.89 per share for the year, down from their previous forecast of $24.26. Barrington Research currently has a "Outperform" rating and a $200.00 target price on the stock. The consensus estimate for Nexstar Media Group's current full-year earnings is $25.72 per share. Barrington Research also issued estimates for Nexstar Media Group's Q4 2024 earnings at $8.02 EPS, Q1 2025 earnings at $3.81 EPS, Q2 2025 earnings at $3.22 EPS, Q3 2025 earnings at $2.89 EPS, Q4 2025 earnings at $3.83 EPS and FY2026 earnings at $22.40 EPS.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $5.27 EPS for the quarter, missing analysts' consensus estimates of $5.51 by ($0.24). Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. The company had revenue of $1.37 billion during the quarter, compared to the consensus estimate of $1.37 billion. During the same period in the prior year, the business posted $0.70 earnings per share. Nexstar Media Group's revenue for the quarter was up 20.7% compared to the same quarter last year.

A number of other research analysts have also weighed in on the company. Benchmark restated a "buy" rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. Guggenheim cut their price objective on Nexstar Media Group from $200.00 to $198.00 and set a "buy" rating for the company in a research report on Friday, October 4th. Deutsche Bank Aktiengesellschaft cut their price objective on Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Wells Fargo & Company dropped their target price on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating for the company in a report on Friday, August 9th. Finally, Loop Capital cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating and dropped their price target for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $198.50.

Nexstar Media Group Price Performance

NXST stock traded down $2.62 during trading on Friday, reaching $161.84. The company's stock had a trading volume of 429,462 shares, compared to its average volume of 329,771. Nexstar Media Group has a 1 year low of $141.38 and a 1 year high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $5.02 billion, a P/E ratio of 9.36, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company's fifty day moving average is $168.62 and its 200-day moving average is $167.09.

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds have recently modified their holdings of the company. CX Institutional boosted its stake in Nexstar Media Group by 5.0% during the third quarter. CX Institutional now owns 1,396 shares of the company's stock worth $231,000 after buying an additional 67 shares during the last quarter. Granite Group Advisors LLC grew its stake in shares of Nexstar Media Group by 5.1% in the 1st quarter. Granite Group Advisors LLC now owns 1,489 shares of the company's stock valued at $257,000 after buying an additional 72 shares during the period. Blue Trust Inc. grew its stake in shares of Nexstar Media Group by 7.3% in the 3rd quarter. Blue Trust Inc. now owns 1,088 shares of the company's stock valued at $181,000 after buying an additional 74 shares during the period. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of Nexstar Media Group by 0.6% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,903 shares of the company's stock valued at $2,308,000 after buying an additional 87 shares during the period. Finally, SummerHaven Investment Management LLC grew its stake in shares of Nexstar Media Group by 2.3% in the 2nd quarter. SummerHaven Investment Management LLC now owns 4,217 shares of the company's stock valued at $700,000 after buying an additional 96 shares during the period. 95.30% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Rachel Morgan sold 6,196 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total transaction of $1,061,374.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Perry A. Sook sold 12,239 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the sale, the chief executive officer now directly owns 674,694 shares in the company, valued at approximately $128,380,774.32. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,437 shares of company stock valued at $8,429,561 over the last 90 days. Corporate insiders own 6.30% of the company's stock.

Nexstar Media Group Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be paid a $1.69 dividend. This represents a $6.76 dividend on an annualized basis and a yield of 4.18%. The ex-dividend date of this dividend is Friday, November 15th. Nexstar Media Group's dividend payout ratio (DPR) is 39.10%.

About Nexstar Media Group

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.