Nexstar Broadcasting Group (NXST) Stock Dips While Market Gains: Key Facts
Nexstar Broadcasting Group (NXST) closed at $142.73 in the latest trading session, marking a -0.01% move from the prior day. The stock's change was less than the S&P 500's daily gain of 0.43%. Elsewhere, the Dow gained 0.19%, while the tech-heavy Nasdaq added 0.71%.
Shares of the television broadcaster have depreciated by 3.06% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 2.8% and the S&P 500's loss of 2.1%.
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. In that report, analysts expect Nexstar Broadcasting Group to post earnings of $1.68 per share. This would mark a year-over-year decline of 76.99%. Simultaneously, our latest consensus estimate expects the revenue to be $1.19 billion, showing a 5.89% drop compared to the year-ago quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $11.60 per share and revenue of $5.02 billion. These totals would mark changes of -56.88% and -3.7%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for Nexstar Broadcasting Group. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.71% decrease. At present, Nexstar Broadcasting Group boasts a Zacks Rank of #3 (Hold).
With respect to valuation, Nexstar Broadcasting Group is currently being traded at a Forward P/E ratio of 12.3. This represents a discount compared to its industry's average Forward P/E of 12.71.
It's also important to note that NXST currently trades at a PEG ratio of 1.58. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 1.39.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 206, which puts it in the bottom 19% of all 250+ industries.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Nexstar Media Group, Inc (NXST) : Free Stock Analysis Report
