Gray Television (GTN – Free Report) closed the most recent trading day at $3.66, moving -1.35% from the previous trading session. This move lagged the S&P 500’s daily loss of 1.11%. Elsewhere, the Dow saw a downswing of 0.42%, while the tech-heavy Nasdaq depreciated by 1.89%.
The broadcast television company’s stock has dropped by 9.73% in the past month, falling short of the Consumer Discretionary sector’s loss of 5.46% and the S&P 500’s loss of 1.7%.
Investors will be eagerly watching for the performance of Gray Television in its upcoming earnings disclosure. The company is forecasted to report an EPS of $1.32, showcasing a 650% upward movement from the corresponding quarter of the prior 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.
Any recent changes to analyst estimates for Gray Television should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts’ positivity towards the company’s business operations and its ability to generate profits.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Currently, Gray Television is carrying a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry, currently bearing a Zacks Industry Rank of 64, finds itself in the top 26% echelons of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within 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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