Gray Television (GTN) closed at $3.28 in the latest trading session, marking a -1.2% move from the prior day. This change lagged the S&P 500's daily gain of 0.88%. At the same time, the Dow added 1.24%, and the tech-heavy Nasdaq gained 0.65%.
Shares of the broadcast television company witnessed a gain of 8.5% over the previous month, beating the performance of the Consumer Discretionary sector with its loss of 2.48% and the S&P 500's gain of 1.17%.
The investment community will be paying close attention to the earnings performance of Gray Television in its upcoming release. It is anticipated that the company will report an EPS of $1.32, marking a 650% rise compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $1.04 billion, indicating a 20.72% increase compared to the same quarter of the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Gray Television. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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. Within the past 30 days, our consensus EPS projection remained stagnant. Currently, Gray Television is carrying a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 38, which puts it in the top 16% of all 250+ industries.
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.
To follow GTN in the coming trading sessions, be sure to utilize Zacks.com.
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