Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) - Analysts at Barrington Research dropped their Q3 2024 earnings estimates for Nexstar Media Group in a research report issued on Tuesday, February 6th. Barrington Research analyst J. Goss now anticipates that the company will post earnings per share of $6.72 for the quarter, down from their previous estimate of $6.87. The consensus estimate for Nexstar Media Group's current full-year earnings is $10.78 per share. Barrington Research also issued estimates for Nexstar Media Group's Q4 2024 earnings at $11.02 EPS and FY2025 earnings at $14.61 EPS.
Other analysts have also issued reports about the stock. Citigroup assumed coverage on shares of Nexstar Media Group in a report on Friday, December 8th. They issued a "neutral" rating and a $158.00 price objective on the stock. Wells Fargo & Company lowered their price target on Nexstar Media Group from $175.00 to $167.00 and set an "equal weight" rating for the company in a research report on Thursday, November 9th. Finally, TheStreet raised Nexstar Media Group from a "c+" rating to a "b-" rating in a research note on Thursday, February 1st. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $206.43.
View Our Latest Analysis on Nexstar Media Group
Nexstar Media Group Price Performance
NASDAQ:NXST opened at $172.92 on Wednesday. The company has a market capitalization of $5.87 billion, a P/E ratio of 14.89, a P/E/G ratio of 0.62 and a beta of 1.56. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 2.87. Nexstar Media Group has a 52 week low of $132.30 and a 52 week high of $207.79. The stock's fifty day moving average is $162.14 and its two-hundred day moving average is $155.37.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.70 EPS for the quarter, missing the consensus estimate of $1.53 by ($0.83). The firm had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.16 billion. Nexstar Media Group had a net margin of 8.51% and a return on equity of 20.92%. The firm's quarterly revenue was down 10.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $7.30 EPS.
Nexstar Media Group Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Shareholders of record on Friday, February 9th will be given a $1.69 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $6.76 dividend on an annualized basis and a yield of 3.91%. This is a positive change from Nexstar Media Group's previous quarterly dividend of $1.35. Nexstar Media Group's dividend payout ratio (DPR) is currently 46.51%.
Insider Activity
In related news, Director Charles Thomas Mcmillen sold 500 shares of the firm's stock in a transaction that occurred on Tuesday, November 21st. The shares were sold at an average price of $149.57, for a total value of $74,785.00. Following the sale, the director now owns 4,500 shares of the company's stock, valued at $673,065. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, EVP Blake Russell sold 5,243 shares of the company's stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $156.42, for a total transaction of $820,110.06. Following the completion of the transaction, the executive vice president now directly owns 22,329 shares of the company's stock, valued at approximately $3,492,702.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles Thomas Mcmillen sold 500 shares of the firm's stock in a transaction dated Tuesday, November 21st. The stock was sold at an average price of $149.57, for a total value of $74,785.00. Following the sale, the director now directly owns 4,500 shares in the company, valued at approximately $673,065. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,273 shares of company stock worth $5,773,808. 5.90% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Nexstar Media Group
A number of institutional investors and hedge funds have recently added to or reduced their stakes in NXST. Brown Brothers Harriman & Co. acquired a new position in shares of Nexstar Media Group in the 1st quarter valued at $26,000. SRS Capital Advisors Inc. raised its position in Nexstar Media Group by 350.9% in the 4th quarter. SRS Capital Advisors Inc. now owns 239 shares of the company's stock valued at $37,000 after purchasing an additional 186 shares during the last quarter. OLD Second National Bank of Aurora acquired a new stake in Nexstar Media Group during the 4th quarter worth $45,000. Huntington National Bank grew its position in Nexstar Media Group by 496.4% during the 2nd quarter. Huntington National Bank now owns 334 shares of the company's stock worth $56,000 after purchasing an additional 278 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in Nexstar Media Group in the 2nd quarter valued at about $58,000. 95.30% of the stock is owned by institutional investors and hedge funds.
Nexstar Media Group Company Profile
(
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Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
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