Gray Media (GTN) closed at $4.63 in the latest trading session, marking a -2.73% move from the prior day. This move lagged the S&P 500's daily gain of 1.14%. Meanwhile, the Dow experienced a rise of 0.61%, and the technology-dominated Nasdaq saw an increase of 1.69%.
Shares of the broadcast television company have depreciated by 4.8% over the course of the past month, outperforming the Consumer Discretionary sector's loss of 6.17%, and lagging the S&P 500's loss of 2.85%.
Investors will be eagerly watching for the performance of Gray Media in its upcoming earnings disclosure. The company's earnings per share (EPS) are projected to be $0.81, reflecting a 437.5% increase from the same quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $951 million, up 26.97% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.33 per share and revenue of $3.64 billion, which would represent changes of +311.82% and +17.45%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates 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 suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Gray Media is currently sporting a Zacks Rank of #2 (Buy).
With respect to valuation, Gray Media is currently being traded at a Forward P/E ratio of 2.05. This represents a discount compared to its industry average Forward P/E of 11.38.
We can additionally observe that GTN currently boasts a PEG ratio of 0.1. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Broadcast Radio and Television industry held an average PEG ratio of 0.97.
The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. With its current Zacks Industry Rank of 162, this industry ranks in the bottom 35% of all industries, numbering over 250.
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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Gray Media Inc. (GTN): Free Stock Analysis Report
This article originally published on Zacks Investment Research (zacks.com).