Heavy Trading On Gray Television (GTN) Before Market Open
Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer.
Trade-Ideas LLC identified
(
) as a pre-market mover with heavy volume candidate. In addition to specific proprietary factors, Trade-Ideas identified Gray Television as such a stock due to the following factors:
- GTN has an average dollar-volume (as measured by average daily share volume multiplied by share price) of $8.3 million.
- GTN traded 70,862 shares today in the pre-market hours as of 8:12 AM, representing 11% of its average daily volume.
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More details on GTN:
Gray Television, Inc. operates as a television broadcast company in the United States. GTN has a PE ratio of 16.3. Currently there are 2 analysts that rate Gray Television a buy, no analysts rate it a sell, and none rate it a hold.
The average volume for Gray Television has been 337,800 shares per day over the past 30 days. Gray Television has a market cap of $704.5 million and is part of the services sector and media industry. The stock has a beta of 4.04 and a short float of 5.8% with 3.56 days to cover. Shares are up 23.5% year-to-date as of the close of trading on Tuesday.
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Analysis:
rates Gray Television as a
. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins and good cash flow from operations. However, as a counter to these strengths, we find that the growth in the company's earnings per share has not been good.
Highlights from the ratings report include:
- GTN's very impressive revenue growth greatly exceeded the industry average of 7.7%. Since the same quarter one year prior, revenues leaped by 86.2%. Growth in the company's revenue appears to have helped boost the earnings per share.
- The gross profit margin for GRAY TELEVISION INC is rather high; currently it is at 51.44%. It has increased significantly from the same period last year. Along with this, the net profit margin of 17.56% is above that of the industry average.
- The net income growth from the same quarter one year ago has significantly exceeded that of the S&P 500 and the Media industry. The net income increased by 500.9% when compared to the same quarter one year prior, rising from $5.20 million to $31.25 million.
- GRAY TELEVISION INC reported significant earnings per share improvement in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, GRAY TELEVISION INC increased its bottom line by earning $0.82 versus $0.32 in the prior year. For the next year, the market is expecting a contraction of 47.6% in earnings ($0.43 versus $0.82).
- You can view the full Gray Television Ratings Report.
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