Nexstar Media Group (NASDAQ:NXST – Get Free Report) announced its earnings results on Thursday. The company reported $3.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.98 by ($2.37), Briefing.com reports. The company had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Nexstar Media Group had a return on equity of 24.26% and a net margin of 3.20%.The firm’s revenue for the quarter was up 62.2% on a year-over-year basis. During the same period in the prior year, the business earned $3.06 earnings per share.
Here are the key takeaways from Nexstar Media Group’s conference call:
- Record Q2 results included $1.99 billion in revenue, $633 million in adjusted EBITDA, and $238 million in adjusted free cash flow, with TEGNA, political advertising, FIFA World Cup advertising, and cost efficiencies driving performance.
- Political advertising is tracking ahead of internal expectations, with Q2 combined political revenue up 99% versus 2024; management expects Ohio’s competitive Senate and gubernatorial races to drive potential Q3 upside.
- The CW is on track to reach profitability in Q4, while sports programming, NASCAR, WWE, and new ESPN and Roku distribution agreements are improving viewership, advertiser demand, and reach.
- Combined non-political advertising declined 5.8% in Q2 amid crowd-out from political spending, economic softness, and competition from connected-TV and digital inventory; Q3 is expected to remain down mid-single digits.
- Nexstar faces continued litigation and restrictions on integrating TEGNA, while debt rose to $11.7 billion and quarterly interest expense increased to approximately $185 million; management plans to prioritize debt repayment over share repurchases.
Nexstar Media Group Trading Up 3.1%
Shares of NXST stock traded up $5.81 during trading hours on Friday, hitting $193.78. 463,714 shares of the company were exchanged, compared to its average volume of 313,479. The firm has a market cap of $5.92 billion, a P/E ratio of 37.19, a P/E/G ratio of 0.52 and a beta of 0.91. Nexstar Media Group has a fifty-two week low of $154.47 and a fifty-two week high of $254.30. The company has a debt-to-equity ratio of 5.53, a quick ratio of 1.76 and a current ratio of 1.76. The company has a 50 day simple moving average of $179.31 and a two-hundred day simple moving average of $200.88.
Nexstar Media Group Announces Dividend
Insider Activity at Nexstar Media Group
In related news, CEO Perry A. Sook purchased 12,235 shares of the firm’s stock in a transaction on Friday, June 26th. The stock was purchased at an average cost of $162.26 per share, with a total value of $1,985,251.10. Following the completion of the purchase, the chief executive officer owned 899,044 shares in the company, valued at approximately $145,878,879.44. This trade represents a 1.38% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sean Compton sold 5,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $196.00, for a total transaction of $980,000.00. Following the transaction, the insider owned 11,252 shares in the company, valued at $2,205,392. This represents a 30.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 22,813 shares of company stock worth $4,174,731 over the last ninety days. 7.00% of the stock is owned by corporate insiders.
Institutional Trading of Nexstar Media Group
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC acquired a new position in Nexstar Media Group during the 3rd quarter worth approximately $28,000. State of Wyoming bought a new position in Nexstar Media Group in the second quarter worth approximately $54,000. Danske Bank A S acquired a new stake in Nexstar Media Group in the third quarter valued at approximately $59,000. CIBC Private Wealth Group LLC grew its stake in Nexstar Media Group by 216.1% in the third quarter. CIBC Private Wealth Group LLC now owns 392 shares of the company’s stock valued at $78,000 after acquiring an additional 268 shares during the period. Finally, Geneos Wealth Management Inc. increased its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock valued at $102,000 after acquiring an additional 80 shares in the last quarter. 95.30% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have commented on NXST. Deutsche Bank Aktiengesellschaft reduced their price target on Nexstar Media Group from $270.00 to $255.00 and set a “buy” rating on the stock in a research report on Monday, May 11th. Weiss Ratings restated a “hold (c)” rating on shares of Nexstar Media Group in a research report on Wednesday, May 27th. Zacks Research cut Nexstar Media Group from a “strong-buy” rating to a “hold” rating in a report on Friday, July 10th. Wall Street Zen downgraded shares of Nexstar Media Group from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Finally, Wells Fargo & Company decreased their target price on shares of Nexstar Media Group from $253.00 to $249.00 and set an “overweight” rating for the company in a research report on Friday. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $259.00.
Check Out Our Latest Stock Report on Nexstar Media Group
About Nexstar Media Group
Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.
Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.
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