Barrington Research Predicts NXST FY2024 Earnings

Nexstar Media Group, Inc. (NASDAQ:NXST) – Barrington Research lowered their FY2024 earnings estimates for Nexstar Media Group in a note issued to investors on Tuesday, November 12th. Barrington Research analyst J. Goss now forecasts that the company will earn $21.89 per share for the year, down from their prior estimate of $24.26. Barrington Research currently has a “Outperform” rating and a $200.00 target price 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.

NXST has been the topic of a number of other reports. Guggenheim cut their price target on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Wells Fargo & Company lowered their target price 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. Loop Capital lowered shares of Nexstar Media Group from a “buy” rating to a “hold” rating and dropped their price objective for the company from $200.00 to $190.00 in a report on Friday, November 8th. Deutsche Bank Aktiengesellschaft reduced their target price on Nexstar Media Group from $207.00 to $205.00 and set a “buy” 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 report on Friday, November 8th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average 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 firm has a market cap of $5.02 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 0.19 and a beta of 1.48. Nexstar Media Group has a 52-week low of $141.38 and a 52-week high of $191.86. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98. The company’s 50 day moving average is $168.62 and its 200 day moving average is $167.09.

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

Institutional Investors Weigh In On Nexstar Media Group

Several hedge funds and other institutional investors have recently bought and sold shares of NXST. Barclays PLC increased its position in shares of Nexstar Media Group by 16.8% during the third quarter. Barclays PLC now owns 45,051 shares of the company’s stock worth $7,448,000 after purchasing an additional 6,475 shares in the last quarter. Public Employees Retirement System of Ohio lifted its stake in Nexstar Media Group by 2.6% in the third quarter. Public Employees Retirement System of Ohio now owns 12,188 shares of the company’s stock valued at $2,015,000 after buying an additional 310 shares during the last quarter. SGL Investment Advisors Inc. acquired a new stake in shares of Nexstar Media Group in the third quarter valued at approximately $3,758,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Nexstar Media Group in the 3rd quarter valued at $821,000. Finally, iSAM Funds UK Ltd purchased a new stake in Nexstar Media Group in the 3rd quarter valued at $336,000. 95.30% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Nexstar Media Group

In other news, EVP Michael Strober sold 1,076 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The stock was sold at an average price of $167.50, for a total transaction of $180,230.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles Thomas Mcmillen sold 250 shares of the firm’s stock in a transaction that occurred on Thursday, September 26th. The stock was sold at an average price of $164.44, for a total transaction of $41,110.00. Following the sale, the director now directly owns 7,725 shares in the company, valued at approximately $1,270,299. The trade was a 3.13 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 48,437 shares of company stock worth $8,429,561. Company insiders own 6.30% of the company’s stock.

Nexstar Media Group Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be given a $1.69 dividend. The ex-dividend date is Friday, November 15th. This represents a $6.76 dividend on an annualized basis and a yield of 4.18%. Nexstar Media Group’s dividend payout ratio is currently 39.10%.

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.