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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 most recent trading day at $6.09, moving +0.16% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the broadcast television company had gained 24.33% over the past month. This has outpaced the Consumer Discretionary sector's loss of 1.65% and the S&P 500's gain of 1.79% in that time.
Market participants will be closely following the financial results of Gray Television in its upcoming release. The company plans to announce its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be $0.10, reflecting a 200% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $834 million, indicating a 2.58% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.15 per share and revenue of $3.88 billion, indicating changes of +470.5% and +18.38%, respectively, compared to the previous year.
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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.81% lower. Gray Television is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Gray Television has a Forward P/E ratio of 1.18 right now. This denotes a discount relative to the industry's average Forward P/E of 8.56.
We can also see that GTN currently has a PEG ratio of 0.12. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Broadcast Radio and Television industry had an average PEG ratio of 1.24.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GTN in the coming trading sessions, be sure to utilize 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 most recent trading day at $6.09, moving +0.16% from the previous trading session. This move outpaced the S&P 500's daily loss of 2.32%. Elsewhere, the Dow saw a downswing of 1.25%, while the tech-heavy Nasdaq depreciated by 3.64%.
Prior to today's trading, shares of the broadcast television company had gained 24.33% over the past month. This has outpaced the Consumer Discretionary sector's loss of 1.65% and the S&P 500's gain of 1.79% in that time.
Market participants will be closely following the financial results of Gray Television in its upcoming release. The company plans to announce its earnings on August 8, 2024. The company's earnings per share (EPS) are projected to be $0.10, reflecting a 200% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $834 million, indicating a 2.58% upward movement from the same quarter last year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $5.15 per share and revenue of $3.88 billion, indicating changes of +470.5% and +18.38%, respectively, compared to the previous year.
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.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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. Over the past month, the Zacks Consensus EPS estimate has moved 1.81% lower. Gray Television is holding a Zacks Rank of #4 (Sell) right now.
Valuation is also important, so investors should note that Gray Television has a Forward P/E ratio of 1.18 right now. This denotes a discount relative to the industry's average Forward P/E of 8.56.
We can also see that GTN currently has a PEG ratio of 0.12. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. By the end of yesterday's trading, the Broadcast Radio and Television industry had an average PEG ratio of 1.24.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 160, placing it within the bottom 37% of over 250 industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow GTN in the coming trading sessions, be sure to utilize Zacks.com.