Gray Television (GTN) closed the latest trading day at $3.31, indicating a +1.22% change from the previous session's end. The stock exceeded the S&P 500, which registered a gain of 0.12% for the day. Meanwhile, the Dow gained 0.52%, and the Nasdaq, a tech-heavy index, lost 0.23%.

Shares of the broadcast television company have depreciated by 6.84% over the course of the past month, underperforming the Consumer Discretionary sector's loss of 5.39% and the S&P 500's loss of 3.45%.

Market participants will be closely following the financial results of Gray Television in its upcoming release. On that day, Gray Television is projected to report earnings of $1.32 per share, which would represent year-over-year growth of 650%. Our most recent consensus estimate is calling for quarterly revenue of $1.04 billion, up 20.72% from the year-ago period.

Investors should also note any recent changes to analyst estimates for Gray Television. These revisions help to show the ever-changing nature of near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.

The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Gray Television is currently a Zacks Rank #3 (Hold).

The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 85, which puts it in the top 34% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow GTN in the coming trading sessions, be sure to utilize Zacks.com.

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