Equities Analysts Issue Forecasts for NXST FY2024 Earnings

Nexstar Media Group, Inc. (NASDAQ:NXST) – Equities research analysts at Barrington Research dropped their FY2024 EPS estimates for Nexstar Media Group in a research report issued on Tuesday, November 12th. Barrington Research analyst J. Goss now expects that the company will post earnings per share of $21.89 for the year, down from their previous forecast of $24.26. Barrington Research currently has a “Outperform” rating and a $200.00 price target on the stock. The consensus estimate for Nexstar Media Group’s current full-year earnings is $25.72 per share. Barrington Research also issued estimates for Nexstar Media Group’s Q4 2024 earnings at $8.02 EPS, Q1 2025 earnings at $3.81 EPS, Q2 2025 earnings at $3.22 EPS, Q3 2025 earnings at $2.89 EPS, Q4 2025 earnings at $3.83 EPS and FY2026 earnings at $22.40 EPS.

Nexstar Media Group (NASDAQ:NXST) last posted its quarterly earnings results on Thursday, November 7th. The company reported $5.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.51 by ($0.24). The company had revenue of $1.37 billion for the quarter, compared to analyst estimates of $1.37 billion. Nexstar Media Group had a net margin of 11.39% and a return on equity of 26.03%. Nexstar Media Group’s revenue was up 20.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.70 earnings per share.

Other research analysts have also recently issued research reports about the company. Deutsche Bank Aktiengesellschaft dropped their price target on Nexstar Media Group from $207.00 to $205.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Loop Capital cut shares of Nexstar Media Group from a “buy” rating to a “hold” rating and cut their target price for the stock from $200.00 to $190.00 in a research report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and issued a $215.00 price target on shares of Nexstar Media Group in a report on Friday, November 8th. Wells Fargo & Company dropped their price objective on shares of Nexstar Media Group from $221.00 to $209.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, StockNews.com raised Nexstar Media Group from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $198.50.

Nexstar Media Group Stock Performance

Shares of NXST stock opened at $161.84 on Friday. The stock has a fifty day moving average price of $168.62 and a 200 day moving average price of $167.14. The company has a debt-to-equity ratio of 2.98, a quick ratio of 1.68 and a current ratio of 1.68. The stock has a market cap of $5.02 billion, a PE ratio of 9.36, a P/E/G ratio of 0.19 and a beta of 1.48. Nexstar Media Group has a 1 year low of $141.38 and a 1 year high of $191.86.

Nexstar Media Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Friday, November 15th will be issued a dividend of $1.69 per share. This represents a $6.76 annualized dividend and a dividend yield of 4.18%. The ex-dividend date is Friday, November 15th. Nexstar Media Group’s dividend payout ratio (DPR) is 39.10%.

Insider Activity

In related news, Director Charles Thomas Mcmillen sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The shares were sold at an average price of $164.44, for a total value of $41,110.00. Following the sale, the director now directly owns 7,725 shares of the company’s stock, valued at approximately $1,270,299. This trade represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Perry A. Sook sold 12,239 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $190.28, for a total transaction of $2,328,836.92. Following the transaction, the chief executive officer now directly owns 674,694 shares of the company’s stock, valued at $128,380,774.32. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,437 shares of company stock valued at $8,429,561 over the last quarter. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the company. Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the third quarter worth about $25,000. Whittier Trust Co. acquired a new position in shares of Nexstar Media Group in the 2nd quarter valued at about $27,000. True Wealth Design LLC purchased a new stake in shares of Nexstar Media Group during the 3rd quarter worth about $30,000. Allspring Global Investments Holdings LLC increased its position in Nexstar Media Group by 3,700.0% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock worth $44,000 after purchasing an additional 259 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $44,000. 95.30% of the stock is owned by hedge funds and other institutional investors.

Nexstar Media Group Company Profile

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.