Gray Media (GTN) closed at $5.19 in the latest trading session, marking a +1.37% move from the prior day. The stock exceeded the S&P 500, which registered a loss of 0.22% for the day. At the same time, the Dow lost 0.03%, and the tech-heavy Nasdaq lost 0.33%.
Shares of the broadcast television company have appreciated by 24.88% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 8.76% and the S&P 500's loss of 7.48%.
The investment community will be paying close attention to the earnings performance of Gray Media in its upcoming release. In that report, analysts expect Gray Media to post earnings of -$0.48 per share. This would mark a year-over-year decline of 160.76%. In the meantime, our current consensus estimate forecasts the revenue to be $772 million, indicating a 6.2% decline compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of -$0.27 per share and revenue of $3.21 billion. These totals would mark changes of -108.04% and -12.05%, respectively, from last year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Gray Media. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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. The Zacks Consensus EPS estimate has moved 3.57% higher within the past month. As of now, Gray Media holds a Zacks Rank of #2 (Buy).
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. This group has a Zacks Industry Rank of 63, putting it in the top 26% 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Gray Media Inc. (GTN) : Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).
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