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Fly News Breaks for January 7, 2020
NXST
Jan 7, 2020 | 07:40 EDT
As previously reported, Wells Fargo analyst Steven Cahall upgraded Nexstar to Overweight from Equal Weight with a price target of $149, up from $113. The analyst likes the 2020 setup for Nexstar as he is bullish on political advertising overall for Broadcasters, and specifically for the company. Cahall also considers Nexstar to be best-of-breed management, with 2020 likely to see delivery of synergy plus re-transmission targets, significant deleveraging and likely some share repo.
News For NXST From the Last 2 Days
NXST
Aug 4, 2021 | 07:10 EDT
Reports Q2 revenue $1.13B, consensus $1.12B. Perry A. Sook, Chairman and Chief Executive Officer of Nexstar Media Group, Inc. commented, "Nexstar's strong operating and financial growth momentum as well as our commitment to enhancing shareholder value was highlighted again in the second quarter as we delivered another period of outstanding financial results and industry-leading capital returns. Record second quarter net revenue reflects our team's success in generating a faster and stronger-than-anticipated recovery in core advertising as well as continued double-digit distribution revenue growth. Overall, our record second quarter net revenue of $1.13 billion, net income of $199.8 million and Adjusted EBITDA of $418.8 million were well ahead of consensus expectations, while free cash flow of $181.2 million was impacted by the timing of 2021 operating cash tax payments. With our year-to-date operating results pacing ahead of internal forecasts, we are raising our pro-forma average annual free cash flow guidance for the 2021/2022 cycle by $60 million to approximately ~$1.33 billion.