Nexstar Media Group (NASDAQ:NXST) Releases Quarterly Earnings Results, Misses Expectations By $0.16 EPS

Nexstar Media Group (NASDAQ:NXST) announced its quarterly earnings results on Thursday. The company reported $7.92 earnings per share for the quarter, missing the consensus estimate of $8.08 by ($0.16), Briefing.com reports. Nexstar Media Group had a net margin of 5.48% and a return on equity of 33.40%. The company had revenue of $2.13 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the company earned $2.14 earnings per share. The company’s quarterly revenue was up 78.0% on a year-over-year basis.

Here are the key takeaways from Nexstar Media Group’s conference call:

• Nexstar reported record third-quarter revenue of $2.13 billion and Adjusted EBITDA of $756 million. Results included TEGNA’s contribution and benefited from strong political advertising and distribution revenue.
• Combined political advertising revenue reached a record $1.1 billion for 2026, up 31% from 2022 and 29% from 2024. Management said broadcast gained share and sees the expanded use of lowest-unit-rate pricing as supportive of future political spending.
• Combined non-political advertising declined 5% in the third quarter, and management expects a high-single-digit decline in the fourth quarter, citing political ad crowd-out. The company also noted that the World Cup provided a boost that will not recur next year.
• Nexstar reduced debt by $1.3 billion year to date, but quarter-end debt was $11.4 billion and total net leverage was 4.04x. Management said excess cash will continue to go toward debt repayment, with leverage closer to 3x an objective.
• A preliminary injunction continues to prevent Nexstar from integrating TEGNA while litigation proceeds; the company is appealing and seeking to narrow the injunction and remove the states from the case. A trial on the merits is scheduled for July 2027, leaving uncertainty around integration.

Nexstar Media Group Price Performance

NXST stock traded up $2.05 during mid-day trading on Friday, hitting $190.02. 484,758 shares of the stock were exchanged, compared to its average volume of 343,976. The company has a debt-to-equity ratio of 5.09, a current ratio of 1.56 and a quick ratio of 1.56. The business has a fifty day moving average price of $167.80 and a 200 day moving average price of $191.75. Nexstar Media Group has a 12 month low of $153.17 and a 12 month high of $254.30. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of 17.29 and a beta of 0.97.

Nexstar Media Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 27th. Shareholders of record on Friday, November 13th will be given a dividend of $1.86 per share. The ex-dividend date is Friday, November 13th. This represents a $7.44 dividend on an annualized basis and a yield of 3.9%. Nexstar Media Group’s dividend payout ratio (DPR) is presently 142.80%.

Analyst Ratings Changes

A number of equities analysts have recently commented on NXST shares. Wells Fargo & Company raised their price objective on shares of Nexstar Media Group from $249.00 to $250.00 and gave the company an “overweight” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a report on Monday, August 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Wall Street Zen raised shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research lowered shares of Nexstar Media Group from a “hold” rating to a “strong sell” rating in a research report on Monday, August 10th. Six investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $256.67.

Nexstar Media Group News Roundup

Here are the key news stories impacting Nexstar Media Group this week:

• Positive Sentiment: Wells Fargo raised its price target to $250 from $249 and reaffirmed its Overweight rating. The new target implies about 31.6% upside from the cited $190.02 share price. Wells Fargo rating information
• Positive Sentiment: Third-quarter revenue reached a record $2.13 billion, up 78% year over year and above the $2.07 billion analyst estimate. Nexstar said political advertising revenue reached a record $1.1 billion for 2026, 31% higher than in the 2022 midterm cycle, providing a major boost to results. Nexstar Q3 revenue and political advertising
• Negative Sentiment: Adjusted earnings were $7.92 per share, below the $8.08 consensus estimate. The earnings miss tempers the otherwise strong revenue growth. Nexstar Q3 earnings results

Insider Transactions at Nexstar Media Group

In related news, COO Michael Biard sold 2,465 shares of the firm’s stock in a transaction dated Monday, August 24th. The stock was sold at an average price of $185.82, for a total transaction of $458,046.30. Following the transaction, the chief operating officer directly owned 20,890 shares of the company’s stock, valued at approximately $3,881,779.80. This trade represents a 10.55% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Bernadette S. Aulestia sold 300 shares of the business’s stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of $186.80, for a total value of $56,040.00. Following the completion of the sale, the director owned 4,383 shares of the company’s stock, valued at $818,744.40. The trade was a 6.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 9,596 shares of company stock valued at $1,733,169 over the last quarter. 7.00% of the stock is owned by company insiders.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a television broadcasting and digital media company headquartered in Irving, Texas. The company operates local television stations across the United States, with stations affiliated with major networks including ABC, NBC, CBS, FOX, The CW and MyNetworkTV. Its local media operations provide news, weather, sports, entertainment and other programming to audiences in markets nationwide.

Nexstar also owns and operates national media properties, including NewsNation, a cable and streaming news network, and The Hill, a political news and information platform.