Nexstar Media Group, Inc. (NASDAQ:NXST – Get Rating) – Barrington Research lifted their Q2 2022 EPS estimates for Nexstar Media Group in a research report issued to clients and investors on Wednesday, May 18th. Barrington Research analyst J. Goss now anticipates that the company will earn $5.46 per share for the quarter, up from their previous estimate of $4.60. Barrington Research also issued estimates for Nexstar Media Group’s Q4 2023 earnings at $5.73 EPS, FY2023 earnings at $18.90 EPS and FY2024 earnings at $29.25 EPS.
Nexstar Media Group (NASDAQ:NXST – Get Rating) last announced its quarterly earnings results on Tuesday, May 10th. The company reported $5.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.89 by $1.10. Nexstar Media Group had a return on equity of 32.08% and a net margin of 18.66%. The business had revenue of $1.21 billion during the quarter, compared to the consensus estimate of $1.19 billion. During the same quarter last year, the firm posted $4.42 EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis.
Shares of Nexstar Media Group stock opened at $174.00 on Monday. The business has a fifty day simple moving average of $174.59 and a two-hundred day simple moving average of $167.88. Nexstar Media Group has a 1 year low of $135.87 and a 1 year high of $192.84. The company has a market capitalization of $7.03 billion, a price-to-earnings ratio of 8.45, a P/E/G ratio of 0.67 and a beta of 1.54. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.02 and a quick ratio of 2.02.
The business also recently declared a quarterly dividend, which will be paid on Friday, May 27th. Investors of record on Friday, May 13th will be given a $0.90 dividend. This represents a $3.60 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Thursday, May 12th. Nexstar Media Group’s payout ratio is currently 17.48%.
In other Nexstar Media Group news, EVP Blake Russell sold 709 shares of Nexstar Media Group stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $173.86, for a total value of $123,266.74. Following the transaction, the executive vice president now owns 29,557 shares in the company, valued at $5,138,780.02. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Karen A. Brophy sold 350 shares of Nexstar Media Group stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $185.61, for a total value of $64,963.50. The disclosure for this sale can be found here. Insiders sold 39,819 shares of company stock worth $7,405,801 in the last 90 days. 6.90% of the stock is owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its stake in shares of Nexstar Media Group by 4.0% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 1,557 shares of the company’s stock valued at $235,000 after purchasing an additional 60 shares in the last quarter. CI Investments Inc. boosted its stake in shares of Nexstar Media Group by 3.2% during the third quarter. CI Investments Inc. now owns 2,012 shares of the company’s stock valued at $306,000 after purchasing an additional 62 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Nexstar Media Group by 5.2% during the fourth quarter. M&T Bank Corp now owns 1,446 shares of the company’s stock valued at $218,000 after purchasing an additional 72 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of Nexstar Media Group by 4.4% during the third quarter. CIBC Asset Management Inc now owns 1,771 shares of the company’s stock valued at $269,000 after purchasing an additional 75 shares in the last quarter. Finally, National Asset Management Inc. boosted its stake in shares of Nexstar Media Group by 3.1% during the first quarter. National Asset Management Inc. now owns 2,527 shares of the company’s stock valued at $477,000 after purchasing an additional 77 shares in the last quarter. Hedge funds and other institutional investors own 96.00% of the company’s stock.
About Nexstar Media Group (Get Rating)
Nexstar Media Group, Inc, a television broadcasting and digital media company, focuses on the acquisition, development, and operation of television stations and interactive community websites and digital media services in the United States. The company offers free programming to television viewing audiences.
- Get a free copy of the StockNews.com research report on Nexstar Media Group (NXST)
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