Grey Tv (GTN) got here out with quarterly earnings of $1.88 per share, beating the Zacks Consensus Estimate of $1.73 per share. This compares to earnings of $0.17 per share a 12 months in the past. These figures are adjusted for non-recurring gadgets.
This quarterly report represents an earnings shock of 8.67%. 1 / 4 in the past, it was anticipated that this broadcast tv firm would submit earnings of $1.41 per share when it really produced earnings of $1.03, delivering a shock of -26.95%.
Over the past 4 quarters, the corporate has surpassed consensus EPS estimates two occasions.
The sustainability of the inventory’s rapid worth motion based mostly on the recently-released numbers and future earnings expectations will principally rely upon administration’s commentary on the earnings name.
Grey Tv shares have added about 13.8% for the reason that starting of the 12 months versus the S&P 500’s achieve of 4.5%.
What’s Subsequent for Grey Tv?
Whereas Grey Tv has outperformed the market to this point this 12 months, the query that involves traders’ minds is: what’s subsequent for the inventory?
There aren’t any simple solutions to this key query, however one dependable measure that may assist traders tackle that is the corporate’s earnings outlook. Not solely does this embrace present consensus earnings expectations for the approaching quarter(s), but in addition how these expectations have modified recently.
Empirical analysis reveals a robust correlation between near-term inventory actions and tendencies in earnings estimate revisions. Traders can monitor such revisions by themselves or depend on a tried-and-tested ranking software just like the Zacks Rank, which has a formidable monitor document of harnessing the facility of earnings estimate revisions.
Forward of this earnings release, the estimate revisions development for Grey Tv: unfavorable. Whereas the magnitude and course of estimate revisions might change following the corporate’s just-released earnings report, the present standing interprets right into a Zacks Rank #4 (Promote) for the inventory. So, the shares are anticipated to underperform the market within the close to future. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Will probably be attention-grabbing to see how estimates for the approaching quarters and present fiscal 12 months change within the days forward. The present consensus EPS estimate is -$0.17 on $791.8 million in revenues for the approaching quarter and $0.05 on $3.22 billion in revenues for the present fiscal 12 months.
Traders must be conscious of the truth that the outlook for the trade can have a cloth influence on the efficiency of the inventory as nicely. By way of the Zacks Business Rank, Broadcast Radio and Tv is at present within the backside 28% of the 250 plus Zacks industries. Our analysis reveals that the highest 50% of the Zacks-ranked industries outperform the underside 50% by an element of greater than 2 to 1.
Townsquare Media (TSQ), one other inventory in the identical trade, has but to report outcomes for the quarter ended December 2022. The outcomes are anticipated to be launched on March 9.
This operator of radio stations in small and mid-sized markets is predicted to submit quarterly earnings of $0.52 per share in its upcoming report, which represents a year-over-year change of +225%. The consensus EPS estimate for the quarter has remained unchanged during the last 30 days.
Townsquare Media’s revenues are anticipated to be $118.35 million, up 7% from the year-ago quarter.
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The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.