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Gray Television (GTN) Stock Moves -0.37%: What You Should Know
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Gray Television (GTN - Free Report) closed the latest trading day at $5.44, indicating a -0.37% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
Shares of the broadcast television company have appreciated by 6.64% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 3.47% and the S&P 500's gain of 2.68%.
Investors will be eagerly watching for the performance of Gray Television in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 8, 2024. The company is predicted to post an EPS of $0.94, indicating a 264.91% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $966 million, up 20.3% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.37 per share and revenue of $3.87 billion, indicating changes of +414.39% and +17.86%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Gray Television. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained unchanged. As of now, Gray Television holds a Zacks Rank of #3 (Hold).
Digging into valuation, Gray Television currently has a Forward P/E ratio of 1.25. This represents a discount compared to its industry's average Forward P/E of 10.13.
It's also important to note that GTN currently trades at a PEG ratio of 0.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Broadcast Radio and Television was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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) Stock Moves -0.37%: What You Should Know
Gray Television (GTN - Free Report) closed the latest trading day at $5.44, indicating a -0.37% change from the previous session's end. The stock's performance was ahead of the S&P 500's daily loss of 0.92%. Meanwhile, the Dow experienced a drop of 0.96%, and the technology-dominated Nasdaq saw a decrease of 1.6%.
Shares of the broadcast television company have appreciated by 6.64% over the course of the past month, outperforming the Consumer Discretionary sector's gain of 3.47% and the S&P 500's gain of 2.68%.
Investors will be eagerly watching for the performance of Gray Television in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on November 8, 2024. The company is predicted to post an EPS of $0.94, indicating a 264.91% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $966 million, up 20.3% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.37 per share and revenue of $3.87 billion, indicating changes of +414.39% and +17.86%, respectively, compared to the previous year.
Investors should also pay attention to any latest changes in analyst estimates for Gray Television. These revisions typically reflect the latest short-term business trends, which can change frequently. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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 remained unchanged. As of now, Gray Television holds a Zacks Rank of #3 (Hold).
Digging into valuation, Gray Television currently has a Forward P/E ratio of 1.25. This represents a discount compared to its industry's average Forward P/E of 10.13.
It's also important to note that GTN currently trades at a PEG ratio of 0.12. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Broadcast Radio and Television was holding an average PEG ratio of 0.86 at yesterday's closing price.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 145, this industry ranks in the bottom 43% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.