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Gray Television (GTN) Increases Despite Market Slip: Here's What You Need to Know
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Gray Television (GTN - Free Report) closed the latest trading day at $6.08, indicating a +1.16% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.16% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
The broadcast television company's shares have seen an increase of 21.41% over the last month, surpassing the Consumer Discretionary sector's loss of 1.18% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of Gray Television in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company is forecasted to report an EPS of $0.10, showcasing a 200% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $834 million, indicating a 2.58% growth compared to the corresponding quarter of the prior year.
GTN's full-year Zacks Consensus Estimates are calling for earnings of $5.15 per share and revenue of $3.88 billion. These results would represent year-over-year changes of +470.5% and +18.38%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Gray Television. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.81% lower. As of now, Gray Television holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Gray Television is holding a Forward P/E ratio of 1.17. This signifies a discount in comparison to the average Forward P/E of 8.3 for its industry.
It's also important to note that GTN currently trades at a PEG ratio of 0.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Broadcast Radio and Television industry currently had an average PEG ratio of 1.14 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Gray Television (GTN) Increases Despite Market Slip: Here's What You Need to Know
Gray Television (GTN - Free Report) closed the latest trading day at $6.08, indicating a +1.16% change from the previous session's end. The stock exceeded the S&P 500, which registered a loss of 0.16% for the day. Meanwhile, the Dow lost 0.14%, and the Nasdaq, a tech-heavy index, lost 0.06%.
The broadcast television company's shares have seen an increase of 21.41% over the last month, surpassing the Consumer Discretionary sector's loss of 1.18% and the S&P 500's gain of 1.96%.
The investment community will be paying close attention to the earnings performance of Gray Television in its upcoming release. The company is slated to reveal its earnings on August 8, 2024. The company is forecasted to report an EPS of $0.10, showcasing a 200% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $834 million, indicating a 2.58% growth compared to the corresponding quarter of the prior year.
GTN's full-year Zacks Consensus Estimates are calling for earnings of $5.15 per share and revenue of $3.88 billion. These results would represent year-over-year changes of +470.5% and +18.38%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Gray Television. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 1.81% lower. As of now, Gray Television holds a Zacks Rank of #4 (Sell).
Looking at its valuation, Gray Television is holding a Forward P/E ratio of 1.17. This signifies a discount in comparison to the average Forward P/E of 8.3 for its industry.
It's also important to note that GTN currently trades at a PEG ratio of 0.12. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Broadcast Radio and Television industry currently had an average PEG ratio of 1.14 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 100, finds itself in the top 40% echelons of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.