Nexstar Media Group Inc (NASDAQ:NXST) – Analysts at B. Riley lowered their Q2 2019 earnings estimates for Nexstar Media Group in a report released on Tuesday, May 14th. B. Riley analyst Z. Silver now expects that the company will earn $1.49 per share for the quarter, down from their prior forecast of $1.53. B. Riley currently has a “Buy” rating and a $139.00 target price on the stock. B. Riley also issued estimates for Nexstar Media Group’s Q3 2019 earnings at $1.83 EPS, Q4 2019 earnings at $2.79 EPS, FY2019 earnings at $7.26 EPS, FY2020 earnings at $12.56 EPS and FY2021 earnings at $8.95 EPS.
A number of other brokerages have also recently commented on NXST. Barrington Research restated a “buy” rating and issued a $135.00 price target on shares of Nexstar Media Group in a research report on Monday. BidaskClub cut Nexstar Media Group from a “strong-buy” rating to a “buy” rating in a research report on Friday, May 3rd. Zacks Investment Research cut Nexstar Media Group from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. Benchmark restated a “buy” rating and issued a $120.00 price target (up previously from $115.00) on shares of Nexstar Media Group in a research report on Thursday, March 21st. Finally, ValuEngine upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $113.13.
Shares of NASDAQ NXST opened at $107.73 on Wednesday. The company has a current ratio of 1.73, a quick ratio of 1.73 and a debt-to-equity ratio of 2.00. Nexstar Media Group has a 52 week low of $65.20 and a 52 week high of $119.93. The firm has a market capitalization of $4.90 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.59 and a beta of 1.58.
Nexstar Media Group (NASDAQ:NXST) last issued its quarterly earnings results on Wednesday, May 8th. The company reported $1.15 EPS for the quarter, missing the Zacks’ consensus estimate of $1.17 by ($0.02). Nexstar Media Group had a return on equity of 23.08% and a net margin of 14.26%. The company had revenue of $626.65 million during the quarter, compared to the consensus estimate of $640.35 million. During the same quarter in the previous year, the business posted $1.01 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis.
A number of large investors have recently added to or reduced their stakes in NXST. Teachers Advisors LLC boosted its stake in Nexstar Media Group by 2.7% in the third quarter. Teachers Advisors LLC now owns 86,074 shares of the company’s stock valued at $7,006,000 after buying an additional 2,302 shares in the last quarter. Nordea Investment Management AB boosted its stake in Nexstar Media Group by 23.6% in the third quarter. Nordea Investment Management AB now owns 60,435 shares of the company’s stock valued at $4,920,000 after buying an additional 11,527 shares in the last quarter. First Hawaiian Bank acquired a new stake in shares of Nexstar Media Group during the fourth quarter valued at about $219,000. Boston Advisors LLC boosted its stake in shares of Nexstar Media Group by 7.3% during the fourth quarter. Boston Advisors LLC now owns 87,277 shares of the company’s stock valued at $6,863,000 after purchasing an additional 5,922 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Nexstar Media Group by 68.3% during the fourth quarter. Meeder Asset Management Inc. now owns 5,338 shares of the company’s stock valued at $419,000 after purchasing an additional 2,166 shares in the last quarter.
In related news, CFO Thomas Carter sold 2,500 shares of the firm’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $108.23, for a total value of $270,575.00. Following the sale, the chief financial officer now directly owns 100,689 shares of the company’s stock, valued at $10,897,570.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Jones sold 35,000 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $108.31, for a total value of $3,790,850.00. Following the completion of the sale, the insider now directly owns 52,734 shares in the company, valued at $5,711,619.54. The disclosure for this sale can be found here. Insiders sold 48,573 shares of company stock worth $5,142,132 over the last ninety days. 6.40% of the stock is currently owned by insiders.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Friday, May 10th will be paid a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend is Thursday, May 9th. Nexstar Media Group’s dividend payout ratio (DPR) is presently 21.08%.
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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