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Gray Television (GTN) Falls More Steeply Than Broader Market: What Investors Need to Know
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Gray Television (GTN - Free Report) closed the latest trading day at $6.45, indicating a -0.77% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.5%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 1.28%.
Shares of the broadcast television company have appreciated by 25.48% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 0.46% and the S&P 500's gain of 0.1%.
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 predicted to post an EPS of $0.10, indicating a 200% growth compared to the equivalent 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.
For the full year, the Zacks Consensus Estimates project earnings of $5.15 per share and a revenue of $3.88 billion, demonstrating changes of +470.5% and +18.38%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gray Television. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been a 1.81% fall in the Zacks Consensus EPS estimate. Gray Television presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Gray Television is at present trading with a Forward P/E ratio of 1.26. This valuation marks a discount compared to its industry's average Forward P/E of 8.38.
Meanwhile, GTN's PEG ratio is currently 0.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. GTN's industry had an average PEG ratio of 1.16 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Gray Television (GTN) Falls More Steeply Than Broader Market: What Investors Need to Know
Gray Television (GTN - Free Report) closed the latest trading day at $6.45, indicating a -0.77% change from the previous session's end. The stock trailed the S&P 500, which registered a daily loss of 0.5%. At the same time, the Dow added 0.5%, and the tech-heavy Nasdaq lost 1.28%.
Shares of the broadcast television company have appreciated by 25.48% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 0.46% and the S&P 500's gain of 0.1%.
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 predicted to post an EPS of $0.10, indicating a 200% growth compared to the equivalent 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.
For the full year, the Zacks Consensus Estimates project earnings of $5.15 per share and a revenue of $3.88 billion, demonstrating changes of +470.5% and +18.38%, respectively, from the preceding year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gray Television. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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, there's been a 1.81% fall in the Zacks Consensus EPS estimate. Gray Television presently features a Zacks Rank of #4 (Sell).
In the context of valuation, Gray Television is at present trading with a Forward P/E ratio of 1.26. This valuation marks a discount compared to its industry's average Forward P/E of 8.38.
Meanwhile, GTN's PEG ratio is currently 0.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. GTN's industry had an average PEG ratio of 1.16 as of yesterday's close.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 154, positioning it in the bottom 39% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.