Fly News Breaks for February 27, 2020
Feb 27, 2020 | 07:47 EDT
Guggenheim analyst Curry Baker raised the firm's price target on Nexstar to $150 from $142 and keeps a Buy rating on the shares following the company's Q4 results. Management remains focused on integrating the Tribune transaction and to date has realized nearly all of its $185M synergy target, Baker tells investors in a research note. He believes Nexstar will maintain industry-leading retransmission fee rates with a major renewal cycle from 2019-2020 and achieve record political results in 2020.
News For NXST From the Last 2 Days
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.