Gray Media (GTN) Stock Drops Despite Market Gains: Important Facts to Note

Gray Media (GTN) closed the most recent trading day at $5.67, moving -2.24% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.26%. Elsewhere, the Dow saw an upswing of 0.15%, while the tech-heavy Nasdaq appreciated by 0.48%. The stock of broadcast television company has fallen by 5.38% in the past month, lagging the Consumer Discretionary sector's loss of 0.21% and the S&P 500's gain of 2.87%.The investment community will be closely monitoring the performance of Gray Media in its forthcoming earnings report. The company is expected to report EPS of -$0.41, down 147.67% from the prior-year quarter. In the meantime, our current consensus estimate forecasts the revenue to be $747 million, indicating a 21.37% decline compared to the corresponding quarter of the prior year. For the full year, the Zacks Consensus Estimates project earnings of -$1.4 per share and a revenue of $3.11 billion, demonstrating changes of -141.67% and -14.63%, respectively, from the preceding year. Investors should also take note of any recent adjustments to analyst estimates for Gray Media. These revisions help to show the ever-changing nature of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the business and profitability. Based on our research, we believe these estimate revisions are directly related to near-term stock moves. 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. 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. The Zacks Consensus EPS estimate remained stagnant within the past month. As of now, Gray Media holds a Zacks Rank of #4 (Sell). The Broadcast Radio and Television industry is part of the Consumer Discretionary sector. Currently, this industry holds a Zacks Industry Rank of 183, positioning it in the bottom 26% 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. Research Chief Names "Single Best Pick to Double"From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.This company targets millennial and Gen Z audiences, generating nearly $1 billion in revenue last quarter alone. A recent pullback makes now an ideal time to jump aboard. Of course, all our elite picks aren’t winners but this one could far surpass earlier Zacks’ Stocks Set to Double like Nano-X Imaging which shot up +129.6% in little more than 9 months.Free: See Our Top Stock And 4 Runners UpWant 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 ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks