Nexstar Media Group (NXST) to Release Quarterly Earnings on Thursday

Nexstar Media Group (NASDAQ:NXST) will announce its earnings results before the market opens on Thursday, August 8th. Analysts expect the company to announce earnings of $4.48 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Nexstar Media Group (NASDAQ:NXST) last issued its earnings results on Thursday, May 9th. The company reported $5.16 earnings per share for the quarter, topping analysts’ consensus estimates of $4.28 by $0.88. Nexstar Media Group had a net margin of 8.29% and a return on equity of 17.18%. The firm had revenue of $1.28 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same quarter last year, the business earned $2.97 earnings per share. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts expect Nexstar Media Group to post $28 EPS for the current fiscal year and $19 EPS for the next fiscal year.

Nexstar Media Group Price Performance

NXST stock opened at $172.02 on Wednesday. The firm has a 50 day moving average of $166.50 and a 200-day moving average of $166.80. 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 12 month low of $132.30 and a 12 month high of $187.27. The firm has a market capitalization of $5.67 billion, a P/E ratio of 14.55, a price-to-earnings-growth ratio of 0.65 and a beta of 1.50.

Nexstar Media Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Friday, August 9th will be given a $1.69 dividend. The ex-dividend date is Friday, August 9th. This represents a $6.76 dividend on an annualized basis and a dividend yield of 3.93%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 57.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NXST shares. Barrington Research reiterated an “outperform” rating and set a $200.00 target price on shares of Nexstar Media Group in a research report on Tuesday, July 23rd. Benchmark reissued a “buy” rating and set a $225.00 price target on shares of Nexstar Media Group in a research note on Thursday, June 20th. Loop Capital raised shares of Nexstar Media Group to a “strong-buy” rating in a research note on Friday, May 10th. Finally, Wells Fargo & Company raised shares of Nexstar Media Group from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $190.00 to $221.00 in a research note on Monday, May 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, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $203.67.

Insiders Place Their Bets

In other Nexstar Media Group news, insider Gary Weitman sold 522 shares of the business’s stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the transaction, the insider now owns 12,477 shares of the company’s stock, valued at approximately $1,860,071.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Blake Russell sold 433 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $167.43, for a total transaction of $72,497.19. Following the completion of the transaction, the executive vice president now directly owns 25,537 shares in the company, valued at approximately $4,275,659.91. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gary Weitman sold 522 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $149.08, for a total value of $77,819.76. Following the completion of the transaction, the insider now owns 12,477 shares of the company’s stock, valued at $1,860,071.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,826 shares of company stock valued at $1,080,597. 5.90% of the stock is owned by insiders.

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.