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Gray Media (GTN) Stock Slides as Market Rises: Facts to Know Before You Trade
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Gray Media (GTN - Free Report) closed the most recent trading day at $4.67, moving -2.91% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.66%, and the tech-heavy Nasdaq gained 0.77%.
The stock of broadcast television company has risen by 2.56% in the past month, leading the Consumer Discretionary sector's loss of 3.66% and the S&P 500's loss of 4.71%.
Market participants will be closely following the financial results of Gray Media in its upcoming release. In that report, analysts expect Gray Media to post earnings of -$0.27 per share. This would mark a year-over-year decline of 17.39%. Simultaneously, our latest consensus estimate expects the revenue to be $765 million, showing a 2.17% drop compared to the year-ago quarter.
GTN's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $3.5 billion. These results would represent year-over-year changes of +334.55% and +13.15%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Gray Media. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.03% downward. As of now, Gray Media holds a Zacks Rank of #3 (Hold).
Investors should also note Gray Media's current valuation metrics, including its Forward P/E ratio of 1.86. This valuation marks a discount compared to its industry average Forward P/E of 13.67.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 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.
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 Media (GTN) Stock Slides as Market Rises: Facts to Know Before You Trade
Gray Media (GTN - Free Report) closed the most recent trading day at $4.67, moving -2.91% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.54%. At the same time, the Dow added 0.66%, and the tech-heavy Nasdaq gained 0.77%.
The stock of broadcast television company has risen by 2.56% in the past month, leading the Consumer Discretionary sector's loss of 3.66% and the S&P 500's loss of 4.71%.
Market participants will be closely following the financial results of Gray Media in its upcoming release. In that report, analysts expect Gray Media to post earnings of -$0.27 per share. This would mark a year-over-year decline of 17.39%. Simultaneously, our latest consensus estimate expects the revenue to be $765 million, showing a 2.17% drop compared to the year-ago quarter.
GTN's full-year Zacks Consensus Estimates are calling for earnings of $2.58 per share and revenue of $3.5 billion. These results would represent year-over-year changes of +334.55% and +13.15%, respectively.
Investors should also pay attention to any latest changes in analyst estimates for Gray Media. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the business operations and its ability to generate profits.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 11.03% downward. As of now, Gray Media holds a Zacks Rank of #3 (Hold).
Investors should also note Gray Media's current valuation metrics, including its Forward P/E ratio of 1.86. This valuation marks a discount compared to its industry average Forward P/E of 13.67.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 161, placing it within the bottom 35% of over 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.