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Nexstar Broadcasting Group (NXST) Stock Moves -0.06%: What You Should Know

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The latest trading session saw Nexstar Broadcasting Group (NXST - Free Report) ending at $173.77, denoting a -0.06% adjustment from its last day's close. The stock's change was more than the S&P 500's daily loss of 0.48%. Meanwhile, the Dow lost 0.37%, and the Nasdaq, a tech-heavy index, lost 0.82%.

The television broadcaster's shares have seen an increase of 3.87% over the last month, not keeping up with the Consumer Discretionary sector's gain of 5% 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. It is anticipated that the company will report an EPS of $4.42, marking a 45.02% fall compared to the same quarter of the previous year. Meanwhile, our latest consensus estimate is calling for revenue of $1.32 billion, down 11.03% from the prior-year quarter.

It's also important for investors to be aware of any recent modifications 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 shows that these estimate changes are directly correlated with near-term stock prices. 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, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 0.65% downward. Nexstar Broadcasting Group is currently sporting a Zacks Rank of #4 (Sell).

Valuation is also important, so investors should note that Nexstar Broadcasting Group has a Forward P/E ratio of 5.85 right now. This represents a discount compared to its industry's average Forward P/E of 9.53.

One should further note that NXST currently holds a PEG ratio of 0.64. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Broadcast Radio and Television industry had an average PEG ratio of 0.64.

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 151, which puts it in the bottom 41% 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.

Ensure to harness to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.

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