In the latest close session, Gray Media (GTN) was down 1.31% at $4.52. Meanwhile, the Dow lost 0.25%, and the Nasdaq, a tech-heavy index, added 0.31%.
Heading into today, shares of the broadcast television company had gained 12.26% over the past month, outpacing the Consumer Discretionary sector's gain of 5.05% and the S&P 500's gain of 5.05%.
Market participants will be closely following the financial results of Gray Media in its upcoming release. In that report, analysts expect Gray Media to post earnings of -$0.34 per share. This would mark a year-over-year decline of 477.78%. Our most recent consensus estimate is calling for quarterly revenue of $763 million, down 7.63% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of -$0.72 per share and revenue of $3.15 billion, which would represent changes of -121.43% and -13.67%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Gray Media. Recent revisions tend to reflect the latest near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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, there's been no change in the Zacks Consensus EPS estimate. Gray Media is holding a Zacks Rank of #3 (Hold) right now.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 75, this industry ranks in the top 31% of all industries, numbering over 250.
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.
You can find more information on all of these metrics, and much more, on 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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