2024-01-28 06:48:24 ET
Summary
- Nexstar Media gets a hold rating.
- Strengths include potential TV ad spending growth in 2024 campaign cycle, proven dividend growth over 10 years, and +3% yield, along with a lower P/E valuation than its sector.
- Headwinds to any bullishness would be overvaluation on P/B ratio, YoY revenue and earnings declines.
- Risks include company debt loads but also recession risks in 2024 and sustainability of TV ad spending beyond the 2024 campaign cycle.
Thesis Summary
Behind the scenes, literally, of many TV stations across America is one parent company that is often under-covered in analyst coverage, so to change gears from my usual financial or consumer products stocks today I'm "switching the channel" to cover Nexstar Media Group ( NXST ).
I rated the stock a hold , agreeing with today's consensus shown on Seeking Alpha from the SA quant system:
Nexstar - rating summary (Seeking Alpha)
Read the full article on Seeking Alpha
For further details see:
Nexstar Media: TV Station Operator Expecting Ad Boost From 2024 Election Cycle