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Why Gray Television (GTN) Outpaced the Stock Market Today
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In the latest trading session, Gray Television (GTN - Free Report) closed at $5.67, marking a +1.25% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
Coming into today, shares of the broadcast television company had gained 12.45% in the past month. In that same time, the Consumer Discretionary sector gained 2.82%, while the S&P 500 gained 4.87%.
Analysts and investors alike will be keeping a close eye on the performance of Gray Television in its upcoming earnings disclosure. The company's earnings report is set to go public on November 8, 2024. The company is forecasted to report an EPS of $0.94, showcasing a 264.91% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $966 million, indicating a 20.3% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.37 per share and a revenue of $3.87 billion, signifying shifts of +414.39% and +17.86%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Gray Television. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Gray Television is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Gray Television is holding a Forward P/E ratio of 1.28. For comparison, its industry has an average Forward P/E of 10.6, which means Gray Television is trading at a discount to the group.
We can additionally observe that GTN currently boasts a PEG ratio of 0.13. 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. The Broadcast Radio and Television was holding an average PEG ratio of 1 at yesterday's closing price.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
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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Why Gray Television (GTN) Outpaced the Stock Market Today
In the latest trading session, Gray Television (GTN - Free Report) closed at $5.67, marking a +1.25% move from the previous day. The stock outperformed the S&P 500, which registered a daily gain of 0.77%. Meanwhile, the Dow experienced a rise of 0.47%, and the technology-dominated Nasdaq saw an increase of 0.87%.
Coming into today, shares of the broadcast television company had gained 12.45% in the past month. In that same time, the Consumer Discretionary sector gained 2.82%, while the S&P 500 gained 4.87%.
Analysts and investors alike will be keeping a close eye on the performance of Gray Television in its upcoming earnings disclosure. The company's earnings report is set to go public on November 8, 2024. The company is forecasted to report an EPS of $0.94, showcasing a 264.91% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $966 million, indicating a 20.3% upward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.37 per share and a revenue of $3.87 billion, signifying shifts of +414.39% and +17.86%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Gray Television. These latest adjustments often mirror the shifting dynamics of short-term business patterns. 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. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Gray Television is currently a Zacks Rank #4 (Sell).
Looking at its valuation, Gray Television is holding a Forward P/E ratio of 1.28. For comparison, its industry has an average Forward P/E of 10.6, which means Gray Television is trading at a discount to the group.
We can additionally observe that GTN currently boasts a PEG ratio of 0.13. 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. The Broadcast Radio and Television was holding an average PEG ratio of 1 at yesterday's closing price.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 103, which puts it in the top 41% 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.