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Nexstar Broadcasting Group In
Nexstar Broadcasting Group is a publicly traded company listed on the NASDAQ stock exchange under the ticker symbol "NXST." It is a leading television broadcasting company that operates a diverse portfolio of television stations, virtual channels, and digital media properties. Here's some general information, focusing on revenue, earnings, and growth:
* Revenue: In the third quarter of 2022, Nexstar reported net revenue of $1.13 billion, representing a 20.8% increase year over year. This significant increase was primarily due to the acquisition of Tribune Media, which closed in September 2019. Additionally, the company's core advertising revenue increased 9.4% year-over-year, with political advertising revenue surging 375.2% due to the 2022 midterm elections.
* Earnings: Nexstar's net income for the third quarter of 2022 was $170.5 million, or $3.25 per diluted share. This represented an increase of 25.1% in net income and 24.4% in earnings per share compared to the same period a year ago.
* Growth: Nexstar has experienced significant growth in recent years, primarily through strategic acquisitions. In 2019, the company acquired Tribune Media, a deal valued at $6.4 billion. This acquisition nearly doubled Nexstar's broadcast portfolio, expanding its reach to 183 markets, including 39 of the top 50 markets in the United States.
* Digital expansion: Apart from its broadcasting business, Nexstar is also growing its digital footprint through its subsidiary, Nexstar Digital, which offers a suite of digital products and services. These services help broadcasters and media companies maximize their digital revenue potential through a range of solutions, including website design, advertising platforms, and digital marketing services.
* Dividends: Nexstar pays a dividend to its shareholders. In November 2022, the company declared a quarterly cash dividend of $0.70 per share, representing a 21.4% increase from the previous quarterly dividend of $0.58.
* Share Performance: As of February 10, 2023, Nexstar's stock is trading at around $96.90 per share. Its 52-week range is between $65.10 and $108.24. Its market capitalization stands at around $4.39 billion.
Overall, Nexstar Broadcasting Group has demonstrated consistent revenue growth through a combination of organic growth and acquisitions. The company's focus on expanding its digital footprint and continued political advertising revenue growth could contribute to its future success. However, it's essential to conduct thorough research and consider multiple factors before making investment decisions regarding Nexstar or any stock. Factors such as market competition, economic conditions, and regulatory changes can impact a company's performance and stock price.
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