Gray Media (GTN) closed at $3.43 in the latest trading session, marking a +1.18% move from the prior day. The stock's change was more than the S&P 500's daily gain of 0.06%. Meanwhile, the Dow experienced a rise of 0.28%, and the technology-dominated Nasdaq saw a decrease of 0.1%.
Shares of the broadcast television company witnessed a loss of 21.35% over the previous month, trailing the performance of the Consumer Discretionary sector with its loss of 4.33% and the S&P 500's loss of 4.29%.
The investment community will be closely monitoring the performance of Gray Media in its forthcoming earnings report. The company is scheduled to release its earnings on May 8, 2025. The company is predicted to post an EPS of -$0.48, indicating a 160.76% decline compared to the equivalent quarter last year. At the same time, our most recent consensus estimate is projecting a revenue of $772 million, reflecting a 6.2% fall from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.27 per share and a revenue of $3.21 billion, indicating changes of -108.04% and -12.05%, respectively, from the former year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Gray Media. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. 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 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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Gray Media currently has a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 38, positioning it in the top 16% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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 Media Inc. (GTN): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
