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Gray Television (GTN) Stock Moves -0.17%: What You Should Know
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Gray Television (GTN - Free Report) closed the latest trading day at $5.78, indicating a -0.17% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 0.33%.
The broadcast television company's shares have seen an increase of 6.43% over the last month, surpassing the Consumer Discretionary sector's gain of 2.26% and the S&P 500's gain of 0.41%.
The upcoming earnings release of Gray Television will be of great interest to investors. The company's earnings report is expected on November 8, 2024. The company's earnings per share (EPS) are projected to be $0.94, reflecting a 264.91% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $966 million, indicating a 20.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.37 per share and a revenue of $3.87 billion, demonstrating changes of +414.39% and +17.86%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Gray Television. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Gray Television is currently a Zacks Rank #3 (Hold).
In terms of valuation, Gray Television is presently being traded at a Forward P/E ratio of 1.32. This represents a discount compared to its industry's average Forward P/E of 10.47.
We can additionally observe that GTN currently boasts a PEG ratio of 0.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 1.12.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
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) Stock Moves -0.17%: What You Should Know
Gray Television (GTN - Free Report) closed the latest trading day at $5.78, indicating a -0.17% change from the previous session's end. This move was narrower than the S&P 500's daily loss of 0.28%. Elsewhere, the Dow lost 0.61%, while the tech-heavy Nasdaq lost 0.33%.
The broadcast television company's shares have seen an increase of 6.43% over the last month, surpassing the Consumer Discretionary sector's gain of 2.26% and the S&P 500's gain of 0.41%.
The upcoming earnings release of Gray Television will be of great interest to investors. The company's earnings report is expected on November 8, 2024. The company's earnings per share (EPS) are projected to be $0.94, reflecting a 264.91% increase from the same quarter last year. Meanwhile, the latest consensus estimate predicts the revenue to be $966 million, indicating a 20.3% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates project earnings of $4.37 per share and a revenue of $3.87 billion, demonstrating changes of +414.39% and +17.86%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Gray Television. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Gray Television is currently a Zacks Rank #3 (Hold).
In terms of valuation, Gray Television is presently being traded at a Forward P/E ratio of 1.32. This represents a discount compared to its industry's average Forward P/E of 10.47.
We can additionally observe that GTN currently boasts a PEG ratio of 0.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Broadcast Radio and Television industry was having an average PEG ratio of 1.12.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 201, putting it in the bottom 21% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.