Nexstar Broadcasting Group (NXST) Dips More Than Broader Market: What You Should Know
In the latest trading session, Nexstar Broadcasting Group (NXST) closed at $139.17, marking a -0.93% move from the previous day. This move lagged the S&P 500's daily loss of 0.17%. Elsewhere, the Dow lost 0.58%, while the tech-heavy Nasdaq added 0.27%.
The television broadcaster's shares have seen an increase of 0.54% over the last month, surpassing the Consumer Discretionary sector's loss of 5.37% and the S&P 500's loss of 3.95%.
Analysts and investors alike will be keeping a close eye on the performance of Nexstar Broadcasting Group in its upcoming earnings disclosure. The company's earnings report is set to go public on November 8, 2023. The company is expected to report EPS of $1.68, down 76.99% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $1.19 billion, down 5.89% from the year-ago period.
NXST's full-year Zacks Consensus Estimates are calling for earnings of $11.60 per share and revenue of $5.02 billion. These results would represent year-over-year changes of -56.88% and -3.7%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Nexstar Broadcasting Group. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been a 0.71% fall in the Zacks Consensus EPS estimate. Currently, Nexstar Broadcasting Group is carrying a Zacks Rank of #4 (Sell).
With respect to valuation, Nexstar Broadcasting Group is currently being traded at a Forward P/E ratio of 12.11. This signifies a discount in comparison to the average Forward P/E of 12.43 for its industry.
It is also worth noting that NXST currently has a PEG ratio of 1.56. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. Broadcast Radio and Television stocks are, on average, holding a PEG ratio of 1.47 based on yesterday's closing prices.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 202, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Nexstar Media Group, Inc (NXST) : Free Stock Analysis Report
