NXST

Nexstar Media Group Inc - Ordinary Shares - Class A

TMT


Presented:03/11/2022
Price:$177.43
Cap:$7.28B
Current Price:$167.50
Cap:$5.40B

Presented

Date03/11/2022
Price$177.43
Market Cap$7.28B
Ent Value$13.94B
P/E Ratio9.33x
Book Value$69.93
Div Yield1.69%
Shares O/S41.00M
Ave Daily Vol419,399
Short Int4.18%

Current

Price$167.50
Market Cap$5.40B
Nexstar Media Group, Inc. is a television broadcasting and digital media company, which engages in the acquisition, development, and operation of television stations and interactive community websites and digital media services. The firm offers services free over-the-air programming which includes programs produced by networks with which the stations are affiliated, programs that the stations produce, and first-run and rerun syndicated programs that the stations acquire. It also provides digital publishing and content management platforms to media publishers and advertisers. The company was founded by Perry A. Sook in 1996 and is headquartered in Irving, TX.

Publicly traded companies mentioned herein: AT&T Inc (T), Charter Communications Inc (CHTR), Comcast Corp (CMCSA), Nexstar Media Group Inc (NXST)

Highlights

The presenter is long shares of Nexstar Media Group Inc (NXST), the #1 broadcaster in the US via ABC, NBC, FOX, and CBS affiliates. NXST derives revenues through advertising and distribution (i.e., fees that viewers pay their cable providers). It has a $7.25B market cap at its current $178 share price, and trades at a 20% FCF yield and sub-7x EBITDA on a blended 2022/2023 basis. Analyzing NXST on an average basis is appropriate because there is some variability from political years, which should offer a boost to numbers this year. Given his robust outlook over the near term, the presenter sees at least 25% upside to $225 per share. 

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