Nexstar Broadcasting Group (NXST) Stock Falls Amid Market Uptick: What Investors Need to Know
The latest trading session saw Nexstar Broadcasting Group (NXST) ending at $179.96, denoting a -0.37% adjustment from its last day's close. This change lagged the S&P 500's 0.76% gain on the day. Meanwhile, the Dow experienced a rise of 0.59%, and the technology-dominated Nasdaq saw an increase of 1.12%.
The television broadcaster's stock has climbed by 15.23% in the past month, exceeding the Consumer Discretionary sector's gain of 1.72% and the S&P 500's gain of 2.5%.
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 February 28, 2024. The company's earnings per share (EPS) are projected to be $4.42, reflecting a 45.02% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $1.32 billion, indicating a 11.03% downward movement from the same quarter last year.
Investors should also pay attention to any latest changes in analyst estimates for Nexstar Broadcasting Group. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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, the Zacks Consensus EPS estimate remained stagnant. Nexstar Broadcasting Group is holding a Zacks Rank of #4 (Sell) right now.
Looking at valuation, Nexstar Broadcasting Group is presently trading at a Forward P/E ratio of 6.04. This represents a discount compared to its industry's average Forward P/E of 10.27.
Investors should also note that NXST has a PEG ratio of 0.66 right now. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. NXST's industry had an average PEG ratio of 0.65 as of yesterday's close.
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 strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Nexstar Media Group, Inc (NXST) : Free Stock Analysis Report
