Gray Media (GTN) closed the latest trading day at $3.35, indicating a -0.59% change from the previous session's end. The stock's change was less than the S&P 500's daily gain of 1.81%. Elsewhere, the Dow gained 1.56%, while the tech-heavy Nasdaq added 2.06%.
The broadcast television company's shares have seen a decrease of 19.95% over the last month, not keeping up with the Consumer Discretionary sector's loss of 7.73% and the S&P 500's loss of 6.14%.
Market participants will be closely following the financial results of Gray Media in its upcoming release. The company plans to announce its earnings on May 8, 2025. On that day, Gray Media is projected to report earnings of -$0.48 per share, which would represent a year-over-year decline of 160.76%. Meanwhile, the latest consensus estimate predicts the revenue to be $772 million, indicating a 6.2% decrease compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of -$0.27 per share and revenue of $3.21 billion, indicating changes of -108.04% and -12.05%, respectively, compared to the previous year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Gray Media. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. At present, Gray Media boasts a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% 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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Gray Media Inc. (GTN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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