Key Points
- Insider sale: Andrew Alford sold 2,823 Nexstar Media Group shares for approximately $467,743, reducing his ownership by 19.4% to 11,726 shares.
- Stock and earnings: NXST opened at $165.57, down 1.2%, after the company reported quarterly EPS of $3.61—well below the $5.98 consensus estimate—despite revenue rising 62.2% year over year to $1.99 billion.
- Dividend and analyst view: Nexstar pays a $1.86 quarterly dividend, equivalent to a 4.5% yield, while analysts maintain a “Moderate Buy” consensus and an average price target of $256.50.
Nexstar Media Group, Inc. (NASDAQ:NXST - Get Free Report) insider Andrew Alford sold 2,823 shares of Nexstar Media Group stock in a transaction that occurred on Wednesday, September 23rd. The shares were sold at an average price of $165.69, for a total transaction of $467,742.87. Following the sale, the insider owned 11,726 shares of the company's stock, valued at approximately $1,942,880.94. The trade was a 19.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.
Nexstar Media Group Stock Down 1.2%
NASDAQ:NXST opened at $165.57 on Thursday. The firm has a market capitalization of $5.10 billion, a P/E ratio of 31.78 and a beta of 0.90. Nexstar Media Group, Inc. has a 1-year low of $154.47 and a 1-year high of $254.30. The company's fifty day moving average price is $181.16 and its 200-day moving average price is $189.06. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56.
Nexstar Media Group (NASDAQ:NXST - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $3.61 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.98 by ($2.37). Nexstar Media Group had a net margin of 3.20% and a return on equity of 24.02%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter in the prior year, the firm earned $3.06 earnings per share. The company's revenue for the quarter was up 62.2% on a year-over-year basis. As a group, equities research analysts anticipate that Nexstar Media Group, Inc. will post 32.88 EPS for the current year.
Nexstar Media Group Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 28th. Stockholders of record on Friday, August 14th were issued a $1.86 dividend. This represents a $7.44 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Friday, August 14th. Nexstar Media Group's payout ratio is 142.80%.
Analysts Set New Price Targets
Several analysts recently commented on NXST shares. Deutsche Bank Aktiengesellschaft dropped their target price on Nexstar Media Group from $255.00 to $240.00 and set a "buy" rating on the stock in a report on Monday, August 10th. Zacks Research lowered Nexstar Media Group from a "hold" rating to a "strong sell" rating in a research report on Monday, August 10th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Wall Street Zen cut shares of Nexstar Media Group from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Finally, Wells Fargo & Company cut 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 report on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Nexstar Media Group has an average rating of "Moderate Buy" and a consensus target price of $256.50.
Check Out Our Latest Report on NXST
Hedge Funds Weigh In On Nexstar Media Group
Several institutional investors and hedge funds have recently modified their holdings of the business. Harbor Investment Advisory LLC acquired a new position in Nexstar Media Group in the 2nd quarter worth about $63,000. Allworth Financial LP grew its holdings in Nexstar Media Group by 35.8% in the second quarter. Allworth Financial LP now owns 360 shares of the company's stock valued at $64,000 after purchasing an additional 95 shares during the period. C M Bidwell & Associates Ltd. acquired a new stake in Nexstar Media Group in the second quarter valued at approximately $67,000. Hantz Financial Services Inc. increased its position in shares of Nexstar Media Group by 80.1% in the fourth quarter. Hantz Financial Services Inc. now owns 362 shares of the company's stock valued at $74,000 after buying an additional 161 shares in the last quarter. Finally, Parvin Asset Management LLC purchased a new stake in shares of Nexstar Media Group in the second quarter valued at approximately $80,000. Hedge funds and other institutional investors own 95.30% of the company's stock.
Nexstar Media Group Company Profile
(
Get Free Report)
Nexstar Media Group, Inc is a diversified American media company that owns and operates local television stations and digital media platforms across the United States. Its stations provide locally produced news, weather, sports and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW, depending on the market.
The company also operates NewsNation, a national cable news and information network, and develops digital content and advertising solutions through its online properties.
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