Nexstar Media Group, Inc. (NASDAQ:NXST) – Equities research analysts at B. Riley increased their FY2021 EPS estimates for Nexstar Media Group in a report released on Tuesday, October 27th. B. Riley analyst Z. Silver now expects that the company will post earnings of $13.61 per share for the year, up from their prior forecast of $13.38. B. Riley also issued estimates for Nexstar Media Group’s FY2022 earnings at $18.22 EPS, FY2023 earnings at $17.33 EPS and FY2024 earnings at $20.65 EPS.
Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $2.13 EPS for the quarter, topping the consensus estimate of $1.28 by $0.85. The business had revenue of $914.63 million for the quarter, compared to analyst estimates of $906.25 million. Nexstar Media Group had a return on equity of 19.13% and a net margin of 9.65%. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.42 EPS.
Several other research firms also recently weighed in on NXST. Zacks Investment Research raised Nexstar Media Group from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research report on Wednesday. Wells Fargo & Company boosted their price objective on Nexstar Media Group from $88.00 to $112.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. ValuEngine downgraded Nexstar Media Group from a “sell” rating to a “strong sell” rating in a research report on Tuesday, October 6th. BidaskClub downgraded Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Friday, October 16th. Finally, Barrington Research reissued a “buy” rating and set a $115.00 price objective on shares of Nexstar Media Group in a research report on Tuesday, August 11th. Two equities research analysts have rated the stock with a sell rating and seven have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $113.86.
NASDAQ NXST opened at $82.46 on Wednesday. The company has a market cap of $3.73 billion, a P/E ratio of 10.77, a P/E/G ratio of 0.61 and a beta of 1.81. The company has a debt-to-equity ratio of 3.62, a current ratio of 1.88 and a quick ratio of 1.88. The stock has a 50-day moving average of $92.32 and a two-hundred day moving average of $84.63. Nexstar Media Group has a 1-year low of $43.37 and a 1-year high of $133.25.
A number of hedge funds and other institutional investors have recently modified their holdings of NXST. Fifth Third Bancorp purchased a new stake in Nexstar Media Group in the second quarter valued at approximately $25,000. Cutler Group LP lifted its stake in Nexstar Media Group by 108.8% in the second quarter. Cutler Group LP now owns 326 shares of the company’s stock valued at $27,000 after buying an additional 4,026 shares during the last quarter. Signaturefd LLC lifted its stake in Nexstar Media Group by 265.6% in the second quarter. Signaturefd LLC now owns 340 shares of the company’s stock valued at $28,000 after buying an additional 247 shares during the last quarter. Point72 Hong Kong Ltd lifted its stake in Nexstar Media Group by 24.3% in the second quarter. Point72 Hong Kong Ltd now owns 1,091 shares of the company’s stock valued at $91,000 after buying an additional 213 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new stake in Nexstar Media Group in the second quarter valued at approximately $132,000.
In related news, CFO Thomas Carter sold 8,607 shares of the business’s stock in a transaction that occurred on Wednesday, September 16th. The stock was sold at an average price of $100.96, for a total transaction of $868,962.72. Following the completion of the sale, the chief financial officer now owns 136,409 shares in the company, valued at $13,771,852.64. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Dana Zimmer sold 708 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $95.13, for a total value of $67,352.04. Following the completion of the sale, the executive vice president now owns 1,792 shares of the company’s stock, valued at approximately $170,472.96. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,057 shares of company stock valued at $1,288,227. 6.70% of the stock is owned by company insiders.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Investors of record on Friday, November 6th will be paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Thursday, November 5th. Nexstar Media Group’s payout ratio is 44.44%.
Nexstar Media Group Company Profile
Nexstar Media Group, Inc operates as a television broadcasting and digital media company in the United States. The company focuses on the acquisition, development, and operation of television stations and interactive community websites in small and medium-sized markets. It offers free over-the-air programming to television viewing audiences.
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