Local television broadcasting and media company Gray Television (NYSE:GTN) will be reporting earnings this Thursday before market open. Here’s what investors should know.
Gray Television beat analysts’ revenue expectations last quarter, reporting revenues of $792 million, down 24.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates but a significant miss of analysts’ EPS estimates.
Is Gray Television a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Gray Television’s revenue to decline 1.6% year on year, improving from the 5% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Gray Television has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Gray Television’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Paramount delivered year-on-year revenue growth of 2.2%, beating analysts’ expectations by 1%, and Rush Street Interactive reported revenues up 41.1%, topping estimates by 11.3%. Paramount traded down 5.6% following the results while Rush Street Interactive was up 16.6%.
Read our full analysis of Paramount’s results here and Rush Street Interactive’s results here.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 6% on average over the last month. Gray Television is up 15.7% during the same time and is heading into earnings with an average analyst price target of $7.30 (compared to the current share price of $5.49).
ONE MORE THING: The $21 AI Application Stock Wall Street Forgot. While Wall Street obsesses over who’s building AI, one company is already using it to print money. And nobody’s paying attention.
AI chip stocks trade at ridiculous valuations. This company processes a trillion consumer signals monthly using AI and trades at a third of the price. The gap won’t last. The institutions will figure it out. You need to see this first. Read the FREE Report Before They Notice.