NXST FY2024 EPS Estimate Reduced by Barrington Research

Nexstar Media Group, Inc. (NASDAQ:NXST) – Equities research analysts at Barrington Research cut their FY2024 EPS estimates for shares of Nexstar Media Group in a report released on Tuesday, November 12th. Barrington Research analyst J. Goss now forecasts that the company will post earnings of $21.89 per share for the year, down from their previous 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 subject of a number of other research reports. Benchmark reaffirmed a “buy” rating and set a $215.00 price objective on shares of Nexstar Media Group in a research report on Friday, November 8th. StockNews.com upgraded Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Wells Fargo & Company dropped their price objective on 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 Nexstar Media Group from a “buy” rating to a “hold” rating and decreased their target price for the stock from $200.00 to $190.00 in a research note on Friday, November 8th. Finally, Guggenheim lowered their target price on Nexstar Media Group from $200.00 to $198.00 and set a “buy” rating for the company in a report on Friday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $198.50.

Nexstar Media Group Trading Down 1.6 %

NASDAQ NXST opened at $161.84 on Friday. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market capitalization of $5.02 billion, a P/E ratio of 9.36, a PEG ratio of 0.19 and a beta of 1.48. The firm’s 50-day moving average is $168.62 and its two-hundred day moving average is $167.14. Nexstar Media Group has a 12 month low of $141.38 and a 12 month high of $191.86.

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

Nexstar Media Group Announces Dividend

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

Insider Activity at Nexstar Media Group

In other Nexstar Media Group news, EVP Rachel Morgan sold 6,196 shares of Nexstar Media Group stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $171.30, for a total value of $1,061,374.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Michael Strober sold 1,076 shares of the company’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $167.50, for a total transaction of $180,230.00. The disclosure for this sale can be found here. Insiders sold a total of 48,437 shares of company stock valued at $8,429,561 in the last three months. 6.30% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Nexstar Media Group

Institutional investors have recently added to or reduced their stakes in the stock. Brooklyn Investment Group acquired a new stake in Nexstar Media Group during the 3rd quarter worth approximately $25,000. Whittier Trust Co. acquired a new stake in shares of Nexstar Media Group during the second quarter worth $27,000. True Wealth Design LLC acquired a new stake in shares of Nexstar Media Group during the third quarter worth $30,000. Allspring Global Investments Holdings LLC grew its position in Nexstar Media Group by 3,700.0% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 266 shares of the company’s stock valued at $44,000 after buying an additional 259 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new position in Nexstar Media Group in the 3rd quarter valued at $44,000. Institutional investors and hedge funds own 95.30% of the company’s stock.

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.