Nexstar Media Group (NASDAQ:NXST) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Nexstar Media Group (NASDAQ:NXSTGet Rating) released its earnings results on Thursday. The company reported $5.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.46 by $0.10, Briefing.com reports. Nexstar Media Group had a return on equity of 32.55% and a net margin of 18.79%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the business posted $4.51 earnings per share. The firm’s revenue was up 10.0% on a year-over-year basis.

Nexstar Media Group Trading Down 0.6 %

Shares of NASDAQ:NXST traded down $1.20 during trading on Friday, hitting $194.03. The company had a trading volume of 347,304 shares, compared to its average volume of 273,535. The stock has a market cap of $7.84 billion, a price-to-earnings ratio of 8.97, a price-to-earnings-growth ratio of 0.74 and a beta of 1.50. Nexstar Media Group has a one year low of $138.80 and a one year high of $197.22. The company has a fifty day simple moving average of $172.71 and a two-hundred day simple moving average of $173.59. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.02 and a quick ratio of 2.02.

Nexstar Media Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 25th. Stockholders of record on Thursday, August 11th will be paid a $0.90 dividend. This represents a $3.60 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Wednesday, August 10th. Nexstar Media Group’s payout ratio is 16.64%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Guggenheim increased their price target on Nexstar Media Group from $210.00 to $220.00 in a research note on Wednesday, May 11th. Deutsche Bank Aktiengesellschaft increased their price target on Nexstar Media Group from $216.00 to $225.00 in a research note on Thursday, May 12th. Rosenblatt Securities increased their price target on Nexstar Media Group to $181.00 and gave the company a “na” rating in a research note on Monday, May 16th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Thursday, May 12th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Nexstar Media Group presently has an average rating of “Buy” and an average price target of $210.57.

Insider Activity

In other news, Director Dennis Miller sold 4,989 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $172.33, for a total value of $859,754.37. Following the sale, the director now directly owns 1,625 shares in the company, valued at $280,036.25. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Dennis Miller sold 4,989 shares of the stock in a transaction that occurred on Thursday, June 9th. The stock was sold at an average price of $172.33, for a total value of $859,754.37. Following the sale, the director now directly owns 1,625 shares in the company, valued at $280,036.25. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Blake Russell sold 709 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $173.86, for a total value of $123,266.74. Following the completion of the sale, the executive vice president now owns 29,557 shares in the company, valued at $5,138,780.02. The disclosure for this sale can be found here. Insiders sold 12,960 shares of company stock valued at $2,233,523 in the last ninety days. Insiders own 5.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of NXST. Private Advisory Group LLC bought a new position in shares of Nexstar Media Group during the 1st quarter worth $775,000. Great West Life Assurance Co. Can lifted its stake in Nexstar Media Group by 19.1% in the first quarter. Great West Life Assurance Co. Can now owns 3,606 shares of the company’s stock worth $714,000 after acquiring an additional 579 shares during the period. Nations Financial Group Inc. IA ADV lifted its stake in Nexstar Media Group by 21.3% in the first quarter. Nations Financial Group Inc. IA ADV now owns 3,564 shares of the company’s stock worth $672,000 after acquiring an additional 626 shares during the period. Atria Wealth Solutions Inc. purchased a new stake in Nexstar Media Group in the first quarter worth about $533,000. Finally, Virtu Financial LLC purchased a new stake in Nexstar Media Group in the first quarter worth about $397,000. 96.00% of the stock is currently owned by hedge funds and other institutional investors.

About Nexstar Media Group

(Get Rating)

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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Earnings History for Nexstar Media Group (NASDAQ:NXST)

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