NXST Stock Summary and Trading Ideas (Nexstar Media Group | NASDAQ:NXST)

Nexstar Media Group Inc is the largest television station owner-operator in the United States with over 200 stations in 116 markets. Of its 200 stations, 155 are affiliated with the four national broadcast networks: CBS, Fox, NBC, and ABC. The 2019 merger with Tribune made Nexstar the top broadcast affiliate for both Fox and CBS as well as the number-two partner for NBC and number three for ABC. The firm has stations in 12 of the top 20 television markets and reaches 68% of us TV households. Nexstar also owns NewsNation (formerly WGN), a nationwide pay-television network, 75% of The CW, and a 31% stake in Food Network and Cooking Channel.

Nexstar Media Group trades on the NASDAQ stock market under the symbol NXST.

As of April 26, 2024, NXST stock price declined to $158.92 with 244,089 million shares trading.

NXST has a beta of 0.91, meaning it tends to be less sensitive to market movements. NXST has a correlation of 0.10 to the broad based SPY ETF.

NXST has a market cap of $5.39 billion. This is considered a Mid Cap stock.

Last quarter Nexstar Media Group reported $1 billion in Revenue and $3.32 earnings per share. This fell short of revenue expectation by $-6 million and missed earnings estimates by -$.88.

In the last 3 years, NXST stock traded as high as $217.76 and as low as $132.30.

The top ETF exchange traded funds that NXST belongs to (by Net Assets): VTI, IJH, VB, COWZ, SCHD.

NXST has underperformed the market in the last year with a price return of -2.8% while the SPY ETF gained +27.4%. NXST has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -11.1% and -0.5%, respectively, while the SPY returned +4.6% and -0.5%, respectively.

NXST support price is $158.31 and resistance is $163.65 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NXST stock will trade within this expected range on the day.