What Makes Beasley (BBGI) a New Buy Stock

Core Viewpoint - Beasley Broadcast Group (BBGI) has received a Zacks Rank upgrade to 2 (Buy), indicating a positive outlook on its earnings estimates, which significantly influence stock prices [1][2]. Earnings Outlook - The Zacks Consensus Estimate for Beasley indicates an expected earnings per share of -$0.06 for the fiscal year ending December 2024, reflecting a 97.9% change from the previous year's reported figure [5]. - Over the past three months, analysts have raised their earnings estimates for Beasley by 25% [5]. Impact of Earnings Estimates - Changes in a company's future earnings potential, as shown by earnings estimate revisions, are strongly correlated with near-term stock price movements [3]. - Institutional investors utilize earnings estimates to determine the fair value of stocks, leading to significant price movements based on their buying or selling actions [3]. Zacks Rating System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with a proven track record of Zacks Rank 1 stocks generating an average annual return of +25% since 1988 [4]. - The upgrade to Zacks Rank 2 places Beasley in the top 20% of Zacks-covered stocks, suggesting a strong potential for price appreciation in the near term [7].