Gray Television (GTN) Exceeds Market Returns: Some Facts to Consider

The most recent trading session ended with Gray Television (GTN) standing at $5.64, reflecting a +1.99% shift from the previouse trading day's closing. This change outpaced the S&P 500's 0.27% gain on the day. At the same time, the Dow added 0.65%, and the tech-heavy Nasdaq gained 0.26%.The the stock of broadcast television company has risen by 4.14% in the past month, leading the Consumer Discretionary sector's gain of 1.51% and the S&P 500's gain of 2%.Analysts and investors alike will be keeping a close eye on the performance of Gray Television in its upcoming earnings disclosure. The company's earnings report is set to go public on November 8, 2024. The company is expected to report EPS of $0.94, up 264.91% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $966 million, indicating a 20.3% increase compared to the same quarter of the previous year.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.37 per share and revenue of $3.87 billion, indicating changes of +414.39% and +17.86%, respectively, compared to the previous year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Gray Television. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Right now, Gray Television possesses a Zacks Rank of #3 (Hold).Looking at valuation, Gray Television is presently trading at a Forward P/E ratio of 1.27. This indicates a discount in contrast to its industry's Forward P/E of 10.31.One should further note that GTN currently holds a PEG ratio of 0.13. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Broadcast Radio and Television was holding an average PEG ratio of 0.86 at yesterday's closing price.The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. At present, this industry carries a Zacks Industry Rank of 171, placing it within the bottom 33% of over 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.Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Gray Television, Inc. (GTN): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks