Gray Media (GTN) ended the recent trading session at $4.92, demonstrating a +1.03% change from the preceding day's closing price. This move outpaced the S&P 500's daily gain of 0.83%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, added 1.02%.
The broadcast television company's shares have seen an increase of 32.34% over the last month, surpassing the Consumer Discretionary sector's gain of 7.03% and the S&P 500's gain of 4.99%.
Market participants will be closely following the financial results of Gray Media in its upcoming release. The company is predicted to post an EPS of -$0.34, indicating a 477.78% decline compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $763 million, down 7.63% from the year-ago period.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of -$0.72 per share and a revenue of $3.15 billion, indicating changes of -121.43% and -13.67%, respectively, from the former 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. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Gray Media presently features a Zacks Rank of #3 (Hold).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 90, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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