Nexstar Media Group (NASDAQ:NXST - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $5.16 earnings per share for the quarter, topping the consensus estimate of $4.28 by $0.88, Briefing.com reports. The company had revenue of $1.28 billion for the quarter, compared to analysts' expectations of $1.29 billion. Nexstar Media Group had a net margin of 7.03% and a return on equity of 14.06%. Nexstar Media Group's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.97 earnings per share.
Nexstar Media Group Stock Down 3.2 %
Nexstar Media Group stock traded down $5.64 during midday trading on Friday, hitting $172.30. 341,557 shares of the company's stock were exchanged, compared to its average volume of 240,797. The company has a market cap of $5.68 billion, a PE ratio of 17.89, a P/E/G ratio of 0.63 and a beta of 1.50. The firm has a 50-day moving average of $165.07 and a two-hundred day moving average of $160.82. Nexstar Media Group has a 12 month low of $132.30 and a 12 month high of $187.32. The company has a debt-to-equity ratio of 2.90, a quick ratio of 1.53 and a current ratio of 1.53.
Nexstar Media Group Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, May 24th. Shareholders of record on Friday, May 10th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a yield of 3.92%. The ex-dividend date is Thursday, May 9th. Nexstar Media Group's payout ratio is 70.20%.
Wall Street Analyst Weigh In
Several brokerages have weighed in on NXST. Benchmark reiterated a "buy" rating and issued a $225.00 price objective on shares of Nexstar Media Group in a research report on Friday. TheStreet raised shares of Nexstar Media Group from a "c+" rating to a "b-" rating in a report on Thursday, February 1st. Rosenblatt Securities lowered their price objective on shares of Nexstar Media Group from $216.00 to $213.00 and set a "buy" rating for the company in a research note on Wednesday, March 13th. Finally, Barrington Research restated an "outperform" rating and set a $200.00 target price on shares of Nexstar Media Group in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Nexstar Media Group currently has an average rating of "Moderate Buy" and an average target price of $198.29.
Get Our Latest Stock Analysis on NXST
Insider Buying and Selling at Nexstar Media Group
In other Nexstar Media Group news, insider Sean Compton sold 3,000 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $162.61, for a total transaction of $487,830.00. Following the completion of the sale, the insider now directly owns 9,489 shares of the company's stock, valued at $1,543,006.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Sean Compton sold 3,000 shares of the business's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $162.61, for a total transaction of $487,830.00. Following the sale, the insider now directly owns 9,489 shares of the company's stock, valued at $1,543,006.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Perry A. Sook sold 31,758 shares of the firm's stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $158.66, for a total value of $5,038,724.28. Following the completion of the transaction, 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. Over the last ninety days, insiders sold 46,508 shares of company stock valued at $7,487,950. 5.90% of the stock is currently owned by insiders.
Nexstar Media Group Company Profile
(
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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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