Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) - Analysts at Barrington Research reduced their Q2 2024 EPS estimates for Nexstar Media Group in a note issued to investors on Monday, May 13th. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $4.24 per share for the quarter, down from their previous estimate of $4.75. 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 $26.73 per share. Barrington Research also issued estimates for Nexstar Media Group's Q3 2024 earnings at $5.77 EPS, Q4 2024 earnings at $11.76 EPS, FY2024 earnings at $26.75 EPS, Q1 2025 earnings at $3.79 EPS, Q3 2025 earnings at $3.11 EPS, Q4 2025 earnings at $6.14 EPS, FY2025 earnings at $16.62 EPS and FY2026 earnings at $31.52 EPS.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $5.16 EPS for the quarter, topping analysts' consensus estimates of $4.28 by $0.88. Nexstar Media Group had a return on equity of 17.18% and a net margin of 8.29%. The firm had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.29 billion. During the same quarter in the previous year, the company posted $2.97 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year.
NXST has been the subject of a number of other research reports. Wells Fargo & Company upgraded Nexstar Media Group from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $190.00 to $221.00 in a research note on Monday. Benchmark reissued a "buy" rating and issued a $225.00 target price on shares of Nexstar Media Group in a research note on Friday, May 10th. TheStreet raised shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a report on Thursday, February 1st. Loop Capital upgraded shares of Nexstar Media Group to a "strong-buy" rating in a report on Friday, May 10th. Finally, Rosenblatt Securities reduced their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating on the stock in a report on Wednesday, March 13th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Nexstar Media Group presently has an average rating of "Moderate Buy" and a consensus price target of $206.00.
Check Out Our Latest Stock Report on NXST
Nexstar Media Group Stock Performance
NASDAQ NXST traded down $5.73 on Wednesday, hitting $173.96. 358,592 shares of the company's stock traded hands, compared to its average volume of 339,208. The firm's 50-day moving average price is $165.88 and its two-hundred day moving average price is $161.70. The firm has a market capitalization of $5.71 billion, a PE ratio of 14.68, a P/E/G ratio of 0.65 and a beta of 1.50. The company has a current ratio of 1.80, a quick ratio of 1.80 and a debt-to-equity ratio of 2.85. Nexstar Media Group has a 1-year low of $132.30 and a 1-year high of $187.32.
Nexstar Media Group Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a dividend of $1.69 per share. The ex-dividend date is Thursday, May 9th. This represents a $6.76 annualized dividend and a yield of 3.89%. Nexstar Media Group's payout ratio is 57.19%.
Insiders Place Their Bets
In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $166.00, for a total value of $244,850.00. Following the sale, the director now directly owns 4,525 shares in the company, valued at approximately $751,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Charles Thomas Mcmillen sold 1,475 shares of the firm's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $166.00, for a total transaction of $244,850.00. Following the sale, the director now owns 4,525 shares of the company's stock, valued at approximately $751,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Perry A. Sook sold 31,758 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total transaction of $5,038,724.28. Following the sale, the chief executive officer now owns 636,788 shares of the company's stock, valued at approximately $101,032,784.08. The disclosure for this sale can be found here. Insiders have sold a total of 46,508 shares of company stock worth $7,487,950 in the last quarter. 5.90% of the stock is owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in the company. Capital Research Global Investors purchased a new stake in shares of Nexstar Media Group in the first quarter valued at about $92,323,000. Payden & Rygel Investment Group acquired a new stake in Nexstar Media Group during the 1st quarter worth approximately $15,144,000. Natixis purchased a new position in shares of Nexstar Media Group in the 1st quarter valued at approximately $1,930,000. CANADA LIFE ASSURANCE Co increased its holdings in shares of Nexstar Media Group by 3.0% in the first quarter. CANADA LIFE ASSURANCE Co now owns 35,677 shares of the company's stock valued at $6,140,000 after purchasing an additional 1,055 shares during the period. Finally, Bessemer Group Inc. raised its stake in shares of Nexstar Media Group by 24.3% during the first quarter. Bessemer Group Inc. now owns 81,875 shares of the company's stock worth $14,106,000 after purchasing an additional 15,982 shares during the last quarter. Hedge funds and other institutional investors own 95.30% of the company's stock.
About Nexstar Media Group
(
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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.
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