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Nexstar Media Group (NXST) Expands Pacers Coverage With DAZN, Is The Stock Still Cheap?

Simply Wall St · 1d ago

Nexstar Media Group event overview

Nexstar Media Group (NXST) is in focus after agreeing with DAZN to televise and stream 15 Indiana Pacers games for free across several Midwestern markets, spanning broadcast and digital platforms.

Nexstar Media Group’s share price has moved to US$158.05, with the 1-month share price return down 10.62% and the year-to-date share price return down 24.32%. The 3-year total shareholder return of 24.75% points to much stronger longer term momentum than the recent pullback suggests.

Capitalize on Nexstar Media Group’s pullback by comparing this setup with a curated 29 high quality undervalued stocks that pairs compressed valuations with stronger quality signals.

Nexstar Media Group looks like a solid media operator with US$5,876.0m in revenue and a broad station footprint. Yet the share price pullback of more than 20% this year raises a simpler issue: Are you paying a fair price for that profile today, or getting it at a discount?

Most Popular Narrative: 35.9% Undervalued

Nexstar Media Group’s most followed narrative pins fair value at $246.75 against the current $158.05 share price. This puts the recent decline in a very different light and shifts attention to whether the business can turn its playbook into cash flow.

Regulatory momentum that includes the FCC decision to eliminate the national broadcast audience cap, together with the TEGNA transaction, positions Nexstar Media Group to benefit from further consolidation opportunities, additional scale and improved leverage in distribution negotiations that can affect long term revenue and EBITDA margins.

See why 22 investors see Nexstar Media Group as 36% undervalued.

Result: Fair Value of $246.75 (UNDERVALUED)

Still, the Nexstar Media Group story depends heavily on political ad cycles and faces ongoing pressure as advertisers continue shifting budgets away from traditional linear TV.

Find out about the key risks to this Nexstar Media Group narrative.

Another view on Nexstar Media Group’s valuation

The fair value narrative says Nexstar Media Group looks 35.9% undervalued at $246.75, yet the current P/E of 29.3x sits above the US Media industry on 21.3x and above a fair ratio of 20.8x. That mix of discount and premium raises a simple question: Which signal do you trust more right now?

See what the numbers say about this price in our valuation breakdown by checking See what the numbers say about this price — find out in our valuation breakdown..

NasdaqGS:NXST P/E Ratio as at Oct 2026
NasdaqGS:NXST P/E Ratio as at Oct 2026

Next Steps

Mixed messages in the Nexstar Media Group story can be useful if you move quickly and pressure test the data yourself against fresh expectations. To weigh both the upside drivers and the concerns investors have flagged, start with the 3 key rewards and 5 important warning signs.

Looking for more Nexstar Media Group style ideas?

If Nexstar Media Group has you rethinking where the next edge might come from, do not stop at one ticker. Use the data to widen your opportunity set.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.