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Best Entertainment Stocks to Buy Now (2023)

Top entertainment stocks in 2023 ranked by overall Zen Score. See the best entertainment stocks to buy now, according to analyst forecasts for the entertainment industry.

According to Zen Score, the 3 best entertainment stocks to buy right now are:

Fox (NASDAQ:FOXA) is the top entertainment stock with a Zen Score of 53, which is 30 points higher than the entertainment industry average of 23. It passed 19 out of 38 due diligence checks and has strong fundamentals. Fox has seen its stock lose -3.42% over the past year, underperforming other entertainment stocks by -10 percentage points.

Fox has an average 1 year price target of $33.43, an upside of 11.65% from Fox's current stock price of $29.94.

Fox stock has a consensus Hold recommendation according to Wall Street analysts. Of the 7 analysts covering Fox, 0% have issued a Strong Buy rating, 0% have issued a Buy, 85.71% have issued a hold, while 0% have issued a Sell rating, and 14.29% have issued a Strong Sell.

Sinclair (NASDAQ:SBGI) is the second best entertainment stock with a Zen Score of 52, which is 29 points higher than the entertainment industry average of 23. It passed 17 out of 38 due diligence checks and has strong fundamentals. Sinclair has seen its stock lose -19.09% over the past year, underperforming other entertainment stocks by -25 percentage points.

Sinclair has an average 1 year price target of $18.88, an upside of 41.39% from Sinclair's current stock price of $13.35.

Sinclair stock has a consensus Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Sinclair, 50% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Nexstar Media Group (NASDAQ:NXST) is the third best entertainment stock with a Zen Score of 51, which is 28 points higher than the entertainment industry average of 23. It passed 18 out of 38 due diligence checks and has strong fundamentals. Nexstar Media Group has seen its stock lose -18.29% over the past year, underperforming other entertainment stocks by -25 percentage points.

Nexstar Media Group has an average 1 year price target of $202.50, an upside of 36.24% from Nexstar Media Group's current stock price of $148.63.

Nexstar Media Group stock has a consensus Buy recommendation according to Wall Street analysts. Of the 6 analysts covering Nexstar Media Group, 50% have issued a Strong Buy rating, 16.67% have issued a Buy, 33.33% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 10 entertainment stocks that have issued dividends in the past year, the 3 entertainment stocks with the highest dividend yields are:

Sinclair (NASDAQ:SBGI) has an annual dividend yield of 7.49%, which is 5 percentage points higher than the entertainment industry average of 2.13%. Sinclair's dividend payout is stable, having never dropped by more than 10% in the last 10 years. Sinclair's dividend has shown consistent growth over the last 10 years.

Sinclair's dividend payout ratio of 67.6% indicates that its high dividend yield is sustainable for the long-term.

Paramount Global (NASDAQ:PARA) has an annual dividend yield of 3.44%, which is 1 percentage points higher than the entertainment industry average of 2.13%. Paramount Global's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Paramount Global's dividend has not shown consistent growth over the last 10 years.

Paramount Global's dividend payout ratio of -32.6% indicates that its dividend yield might not be sustainable for the long-term.

Liberty Media (NASDAQ:FWONA) has an annual dividend yield of 2.22%, which is the same as the entertainment industry average of 2.13%.

Entertainment stocks were up 1.55% in the last day, and down -0.7% over the last week. Paramount Global was the among the top gainers in the entertainment industry, gaining 12.11% yesterday.

Paramount shares are trading higher following a report suggesting David Ellison and RedBird Capital have approached 77% shareholder National Amusements regarding a potential deal.

Based on WallStreetZen's Valuation Score, the 3 most undervalued entertainment stocks right now are:

Fox (NASDAQ:FOXA) is the most undervalued entertainment stock based on WallStreetZen's Valuation Score. Fox has a valuation score of 100, which is 75 points higher than the entertainment industry average of 25. It passed 7 out of 7 valuation due diligence checks.

Fox's stock has dropped -3.42% in the past year. It has underperformed other stocks in the entertainment industry by -10 percentage points.

Sinclair (NASDAQ:SBGI) is the second most undervalued entertainment stock based on WallStreetZen's Valuation Score. Sinclair has a valuation score of 100, which is 75 points higher than the entertainment industry average of 25. It passed 7 out of 7 valuation due diligence checks.

Sinclair's stock has dropped -19.09% in the past year. It has underperformed other stocks in the entertainment industry by -25 percentage points.

Nexstar Media Group (NASDAQ:NXST) is the third most undervalued entertainment stock based on WallStreetZen's Valuation Score. Nexstar Media Group has a valuation score of 86, which is 61 points higher than the entertainment industry average of 25. It passed 6 out of 7 valuation due diligence checks.

Nexstar Media Group's stock has dropped -18.29% in the past year. It has underperformed other stocks in the entertainment industry by -25 percentage points.