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Is Gray Television (GTN) a Great Value Stock Right Now?

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Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Considering these trends, value investing is clearly one of the most preferred ways to find strong stocks in any type of market. Value investors rely on traditional forms of analysis on key valuation metrics to find stocks that they believe are undervalued, leaving room for profits.

On top of the Zacks Rank, investors can also look at our innovative Style Scores system to find stocks with specific traits. For example, value investors will want to focus on the "Value" category. Stocks with high Zacks Ranks and "A" grades for Value will be some of the highest-quality value stocks on the market today.

One stock to keep an eye on is Gray Television (GTN). GTN is currently sporting a Zacks Rank of #2 (Buy), as well as an A grade for Value. The stock holds a P/E ratio of 5.47, while its industry has an average P/E of 16.16. Over the last 12 months, GTN's Forward P/E has been as high as 16.41 and as low as 5.22, with a median of 7.05.

We also note that GTN holds a PEG ratio of 0.55. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. GTN's PEG compares to its industry's average PEG of 1.40. Over the past 52 weeks, GTN's PEG has been as high as 1.64 and as low as 0.52, with a median of 0.71.

Investors could also keep in mind Salem Media Group (SALM), an Broadcast Radio and Television stock with a Zacks Rank of # 2 (Buy) and Value grade of A.

Salem Media Group sports a P/B ratio of 0.49 as well; this compares to its industry's price-to-book ratio of 14.01. In the past 52 weeks, SALM's P/B has been as high as 0.79, as low as 0.35, with a median of 0.51.

These are just a handful of the figures considered in Gray Television and Salem Media Group's great Value grade. Still, they help show that the stock is likely being undervalued at the moment. Add this to the strength of its earnings outlook, and we can clearly see that GTN and SALM is an impressive value stock right now.


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