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Gray Television (GTN) Advances But Underperforms Market: Key Facts September 19, 2024
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The most recent trading session ended with Gray Television (GTN - Free Report) standing at $5.21, reflecting a +1.56% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%.
Shares of the broadcast television company witnessed a gain of 5.99% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.85% and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Gray Television in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.24, marking a 317.54% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $966 million, indicating a 20.3% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $3.87 billion. These totals would mark changes of +457.55% and +17.86%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained unchanged. Gray Television is currently a Zacks Rank #4 (Sell).
Looking at valuation, Gray Television is presently trading at a Forward P/E ratio of 1.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.31.
It is also worth noting that GTN currently has a PEG ratio of 0.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.86.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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The most recent trading session ended with Gray Television (GTN - Free Report) standing at $5.21, reflecting a +1.56% shift from the previouse trading day's closing. The stock trailed the S&P 500, which registered a daily gain of 1.7%. At the same time, the Dow added 1.26%, and the tech-heavy Nasdaq gained 2.51%.
Shares of the broadcast television company witnessed a gain of 5.99% over the previous month, beating the performance of the Consumer Discretionary sector with its gain of 2.85% and the S&P 500's gain of 1.27%.
Investors will be eagerly watching for the performance of Gray Television in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $1.24, marking a 317.54% rise compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $966 million, indicating a 20.3% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.97 per share and revenue of $3.87 billion. These totals would mark changes of +457.55% and +17.86%, respectively, from last 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. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical 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 remained unchanged. Gray Television is currently a Zacks Rank #4 (Sell).
Looking at valuation, Gray Television is presently trading at a Forward P/E ratio of 1.03. This valuation marks a discount compared to its industry's average Forward P/E of 9.31.
It is also worth noting that GTN currently has a PEG ratio of 0.1. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 0.86.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 186, putting it in the bottom 27% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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 use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.