Nexstar Media Group (NASDAQ:NXST) Issues Quarterly Earnings Results

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

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

Shares of NXST stock traded up $2.05 during trading hours on Friday, reaching $190.02. The company’s stock had a trading volume of 484,758 shares, compared to its average volume of 343,976. The firm’s 50 day simple moving average is $167.80 and its 200-day simple moving average is $191.75. The company 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 has a fifty-two week low of $153.17 and a fifty-two week high of $254.30. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 5.09.

Nexstar Media Group Announces Dividend

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

More Nexstar Media Group News

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

Analyst Ratings Changes

NXST has been the topic of several research reports. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Nexstar Media Group from $255.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Wall Street Zen upgraded shares of Nexstar Media Group from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company lifted their price target 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. Weiss Ratings reiterated a “hold (c)” rating on shares of Nexstar Media Group in a research note on Monday, August 24th. Finally, Zacks Research downgraded 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 assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $256.67.

Insiders Place Their Bets

In related news, Director Bernadette S. Aulestia sold 300 shares of the company’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $186.80, for a total transaction of $56,040.00. Following the completion of the sale, the director directly owned 4,383 shares in the company, valued at $818,744.40. This represents a 6.41% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Dana Zimmer sold 4,008 shares of the firm’s stock in a transaction dated Friday, August 14th. The shares were sold at an average price of $187.46, for a total value of $751,339.68. Following the completion of the sale, the insider directly owned 1,792 shares in the company, valued at $335,928.32. This trade represents a 69.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 9,596 shares of company stock worth $1,733,169. 7.00% of the stock is currently owned by company insiders.

About Nexstar Media Group

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.