Nexstar Media Group Inc

NXST: XNAS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Nexstar Earnings: Strong Political and Distribution Revenue Delivers Despite Core Ad Struggles

Matthew Dolgin

Nov 7, 2024

No-moat Nexstar Media Group’s third-quarter results were broadly in line with our expectations. Strong political advertising and distribution revenue drove record third-quarter sales. The potential for positive regulatory changes and slight slowing of pay-TV subscriber attrition rates paint a less volatile picture than Nexstar has experienced recently. After adjusting our model for more positive short-term distribution revenue growth and worse core advertising, we are raising our fair value estimate to $175 per share from $170.

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Maintaining independence and editorial freedom is essential to our mission of empowering investor success. We provide a platform for our authors to report on investments fairly, accurately, and from the investor’s point of view. We also respect individual opinions––they represent the unvarnished thinking of our people and exacting analysis of our research processes. Our authors can publish views that we may or may not agree with, but they show their work, distinguish facts from opinions, and make sure their analysis is clear and in no way misleading or deceptive.

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Read our editorial policy to learn more about our process.

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Nexstar Media Group Inc

Nexstar Earnings: Strong Political and Distribution Revenue Delivers Despite Core Ad Struggles

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