Next Mediaworks (NSE:NEXTMEDIA) Momentum Rank : 2 (As of May. 21, 2024)

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What is Next Mediaworks Momentum Rank?

Next Mediaworks has the Momentum Rank of 2.

For Momentum Rank, we considered the residual momentum concept that was widely studied by Blitz and his colleagues as well as by Nobel Prize laureates Fama and French. However, we did not find any significant differences in the performances of stocks with different ranks of residual momentum. Therefore, we use traditional momentum instead.

Momentum Rank is determined using the standardized momentum ratio and other momentum indicators. The standardized momentum ratio is the average of the performances from 12 months ago to 1 month ago and 6 months ago to 1 month ago, divided by the beta of the stock over the past 12 months. To calculate the momentum ratio today, we would use the average of the two performance numbers.

For momentum, we found that stock price performance does not have a monotonic correlation with the momentum ratio. The stocks with the highest momentum ratios perform worse than those at about the 70th percentile. Therefore, for the momentum rank, we ranked the stocks at about the 70th percentile of the momentum ratio as the highest at 10.

Please click GF Score to see more details on the GF Score's 5 Key Aspects of Analysis.

Competitive Comparison of Next Mediaworks's Momentum Rank

For the Broadcasting subindustry, Next Mediaworks's Momentum Rank, along with its competitors' market caps and Momentum Rank data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Next Mediaworks's Momentum Rank Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Next Mediaworks's Momentum Rank distribution charts can be found below:

* The bar in red indicates where Next Mediaworks's Momentum Rank falls into.

Next Mediaworks Momentum Rank Related Terms

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Next Mediaworks (NSE:NEXTMEDIA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Next Mediaworks Ltd (NSE:NEXTMEDIA) » Definitions » Momentum Rank

Comparable Companies

Traded in Other Exchanges

532416:India

Address

18-20, Kasturba Gandhi Marg, Hindustan Times House, 2nd Floor, New Delhi, IND, 110001

Website

https://www.nextmediaworks.com

Next Mediaworks Ltd is an Indian based company engaged in the FM Radio broadcasting business. It operates under frequency 94.3MHz in all its cities except for the city of Ahmedabad where it operates under the frequency 95 MHz. The company has one operating segment, i.e. Media and Entertainment.

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