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Gray Television (GTN) Stock Declines While Market Improves: Some Information for Investors
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In the latest market close, Gray Television (GTN - Free Report) reached $5.11, with a -0.78% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
The broadcast television company's stock has climbed by 4.67% in the past month, exceeding the Consumer Discretionary sector's loss of 0.25% and the S&P 500's gain of 3.78%.
The investment community will be closely monitoring the performance of Gray Television in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is expected to report EPS of $0.10, up 200% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $834 million, up 2.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.15 per share and a revenue of $3.88 billion, indicating changes of +470.5% and +18.38%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gray Television. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.81% lower within the past month. As of now, Gray Television holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Gray Television is currently exchanging hands at a Forward P/E ratio of 1. This represents a discount compared to its industry's average Forward P/E of 8.14.
Also, we should mention that GTN has a PEG ratio of 0.1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Broadcast Radio and Television industry held an average PEG ratio of 1.13.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Gray Television (GTN) Stock Declines While Market Improves: Some Information for Investors
In the latest market close, Gray Television (GTN - Free Report) reached $5.11, with a -0.78% movement compared to the previous day. This change lagged the S&P 500's daily gain of 0.28%. Meanwhile, the Dow gained 0.53%, and the Nasdaq, a tech-heavy index, added 0.4%.
The broadcast television company's stock has climbed by 4.67% in the past month, exceeding the Consumer Discretionary sector's loss of 0.25% and the S&P 500's gain of 3.78%.
The investment community will be closely monitoring the performance of Gray Television in its forthcoming earnings report. The company is scheduled to release its earnings on August 8, 2024. The company is expected to report EPS of $0.10, up 200% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $834 million, up 2.58% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $5.15 per share and a revenue of $3.88 billion, indicating changes of +470.5% and +18.38%, respectively, from the former year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gray Television. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.81% lower within the past month. As of now, Gray Television holds a Zacks Rank of #4 (Sell).
From a valuation perspective, Gray Television is currently exchanging hands at a Forward P/E ratio of 1. This represents a discount compared to its industry's average Forward P/E of 8.14.
Also, we should mention that GTN has a PEG ratio of 0.1. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. As of the close of trade yesterday, the Broadcast Radio and Television industry held an average PEG ratio of 1.13.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% of all industries, numbering over 250.
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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.