Nexstar Broadcasting Group (NXST) Rises Higher Than Market: Key Facts
The most recent trading session ended with Nexstar Broadcasting Group (NXST) standing at $172.92, reflecting a +0.79% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.23% gain on the day. Meanwhile, the Dow experienced a rise of 0.37%, and the technology-dominated Nasdaq saw an increase of 0.07%.
Shares of the television broadcaster have depreciated by 0.32% over the course of the past month, underperforming the Consumer Discretionary sector's gain of 2.45% and the S&P 500's gain of 5.3%.
The investment community will be paying close attention to the earnings performance of Nexstar Broadcasting Group in its upcoming release. The company is slated to reveal its earnings on February 28, 2024. The company is expected to report EPS of $4.42, down 45.02% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $1.32 billion, reflecting a 11.03% fall from the equivalent quarter last year.
Investors might also notice recent changes to analyst estimates for Nexstar Broadcasting Group. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
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 no change in the Zacks Consensus EPS estimate. Nexstar Broadcasting Group is currently sporting a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Nexstar Broadcasting Group has a Forward P/E ratio of 5.74 right now. This signifies a discount in comparison to the average Forward P/E of 10 for its industry.
It is also worth noting that NXST currently has a PEG ratio of 0.62. 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. The average PEG ratio for the Broadcast Radio and Television industry stood at 0.62 at the close of the market yesterday.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 166, which puts it in the bottom 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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
