Nexstar Media Group (NASDAQ:NXST) Announces Quarterly Earnings Results

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

Nexstar Media Group Price Performance

Nexstar Media Group stock traded down $22.46 during midday trading on Friday, reaching $166.04. The company had a trading volume of 1,148,413 shares, compared to its average volume of 278,403. Nexstar Media Group has a 12-month low of $140.92 and a 12-month high of $191.86. The company has a market capitalization of $5.36 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.21 and a beta of 1.48. The firm's fifty day simple moving average is $168.54 and its 200-day simple moving average is $166.97. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.78 and a quick ratio of 1.78.

Nexstar Media Group Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 4.07%. Nexstar Media Group's dividend payout ratio (DPR) is currently 39.10%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NXST. StockNews.com upgraded Nexstar Media Group from a "hold" rating to a "buy" rating in a research note on Friday. Loop Capital downgraded 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 report on Friday. Wells Fargo & Company cut their price target on Nexstar Media Group from $221.00 to $209.00 and set an "overweight" rating on the stock in a report on Friday, August 9th. Benchmark restated a "buy" rating and set a $215.00 price objective on shares of Nexstar Media Group in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Nexstar Media Group from $207.00 to $205.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Nexstar Media Group currently has an average rating of "Moderate Buy" and a consensus target price of $198.50.

Insider Buying and Selling

In other Nexstar Media Group news, CFO Lee Ann Gliha sold 984 shares of the business's stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total value of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares in the company, valued at $1,277,906.41. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Lee Ann Gliha sold 984 shares of the stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $157.63, for a total transaction of $155,107.92. Following the completion of the transaction, the chief financial officer now owns 8,107 shares of the company's stock, valued at $1,277,906.41. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 41,112 shares of company stock worth $6,887,029. 6.30% of the stock is owned by corporate insiders.

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.