5 Best Mid-Cap Stocks to Buy Now

In this article, we discuss the 5 best mid-cap stocks to buy now. If you want to read the detailed analysis of mid-cap stocks, go directly to 13 Best Mid-Cap Stocks to Buy Now.

5. Nexstar Media Group, Inc. (NASDAQ:NXST)

Market Cap as of September 2: $7.42 billion

Nexstar Media Group, Inc. (NASDAQ:NXST) is the largest television station owner in the United States. Around 68% of households in the US have access to one or more of the company’s stations.

Nexstar Media Group, Inc. (NASDAQ:NXST) stock has been up by 26.77% in the last 12 months as of September 2. Furthermore, for the second quarter, the company posted GAAP EPS of $5.56, compared to the $5.05 consensus. The revenues were up 10.6% on a YoY basis to $1.25 billion. The total TV advertising revenue increased by 15.7% and digital revenue by 20% on a YoY basis. Distribution revenue was up 4.7% to $646 million, which set a new second-quarter record. 

As of September 2, Nexstar Media Group, Inc. (NASDAQ:NXST) has a dividend yield of 1.89% and an annualized dividend payout of $3.60. The company has increased its dividends for nine years consecutively. Moreover, after reporting its Q2 earnings, the company authorized a share buyback program of $1.5 billion.

Here is what Richie Capital Group had to say about Nexstar Media Group, Inc. (NASDAQ:NXST) in its Q1 2022 investor letter:

“Nexstar Media Group (NXST up 24.8%) – The television broadcasting and digital media company surged during the quarter after presenting at an investor conference where management pointed to a strong 2022 for both political advertising and retransmission. They have exposure to more than 80% of markets with competitive mid-term political races. NXST is developing new ad categories, such as sports betting, and they are focused on expanding digital ad revenue and providing digital solutions to local advertisers. Auto advertising will return in the fall as auto dealerships re-enter the market to sell their replenished inventory.”