Yahoo Finance Gray Television (GTN) Stock Dips While Market Gains: Key Facts
The latest trading session saw Gray Television (GTN) ending at $5.44, denoting a -1.27% adjustment from its last day's close. The stock's change was less than the S&P 500's daily gain of 0.27%. At the same time, the Dow lost 0.31%, and the tech-heavy Nasdaq gained 0.88%.
The broadcast television company's shares have seen a decrease of 20.61% over the last month, not keeping up with the Consumer Discretionary sector's gain of 1.03% and the S&P 500's gain of 2.85%.
The investment community will be paying close attention to the earnings performance of Gray Television in its upcoming release. The company's earnings per share (EPS) are projected to be $0.10, reflecting a 200% increase from the same quarter last year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $834 million, up 2.58% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $5.25 per share and revenue of $3.88 billion, which would represent changes of +477.7% and +18.38%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for Gray Television. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional 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 past month, there's been no change in the Zacks Consensus EPS estimate. Gray Television presently features a Zacks Rank of #1 (Strong Buy).
With respect to valuation, Gray Television is currently being traded at a Forward P/E ratio of 1.05. This expresses a discount compared to the average Forward P/E of 7.96 of its industry.
We can also see that GTN currently has a PEG ratio of 0.11. 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. Broadcast Radio and Television stocks are, on average, holding a PEG ratio of 0.83 based on yesterday's closing prices.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 63, positioning it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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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Gray Television, Inc. (GTN) : Free Stock Analysis Report
