Gray Media (GTN) ended the recent trading session at $5.79, demonstrating a -1.03% change from the preceding day's closing price. The stock's performance was behind the S&P 500's daily loss of 0.29%. Elsewhere, the Dow lost 0.37%, while the tech-heavy Nasdaq lost 0.34%.
The broadcast television company's shares have seen a decrease of 3.31% over the last month, not keeping up with the Consumer Discretionary sector's loss of 0.43% and the S&P 500's gain of 3.08%.
The upcoming earnings release of Gray Media will be of great interest to investors. The company is expected to report EPS of -$0.41, down 147.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $747 million, down 21.37% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$1.4 per share and revenue of $3.11 billion, which would represent changes of -141.67% and -14.63%, respectively, from the prior year.
It is also important to note the recent changes to analyst estimates for Gray Media. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Gray Media currently has a Zacks Rank of #4 (Sell).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 180, positioning it in the bottom 28% of all 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Gray Media Inc. (GTN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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