Gray Television, Inc. (NYSE:GTN) Receives $6.67 Consensus Price Target from Analysts

Gray Television, Inc. (NYSE:GTN) has been assigned an average rating of “Moderate Buy” from the five analysts that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $6.67.

A number of equities analysts recently weighed in on GTN shares. Guggenheim reduced their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Barrington Research upgraded Gray Television to a “hold” rating in a research report on Thursday, November 14th. Finally, Benchmark dropped their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th.

Gray Television Price Performance

Shares of NYSE GTN opened at $3.67 on Friday. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $365.78 million, a price-to-earnings ratio of 2.45, a PEG ratio of 0.13 and a beta of 1.39. The firm’s 50 day simple moving average is $4.14 and its 200-day simple moving average is $4.85. Gray Television has a 12 month low of $2.91 and a 12 month high of $10.07.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). The firm had revenue of $950.00 million for the quarter, compared to analyst estimates of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.57) EPS. Analysts expect that Gray Television will post 3.06 EPS for the current year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 8.72%. The ex-dividend date of this dividend was Friday, December 13th. Gray Television’s dividend payout ratio is presently 21.33%.

Insider Buying and Selling

In other news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the transaction, the executive vice president now directly owns 509,212 shares in the company, valued at $2,225,256.44. The trade was a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.80% of the stock is owned by company insiders.

Institutional Trading of Gray Television

Large investors have recently added to or reduced their stakes in the stock. nVerses Capital LLC acquired a new stake in Gray Television during the second quarter worth about $27,000. Creative Planning acquired a new stake in shares of Gray Television during the 3rd quarter worth approximately $56,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Gray Television during the 3rd quarter valued at approximately $59,000. HBK Sorce Advisory LLC acquired a new position in Gray Television in the second quarter valued at approximately $58,000. Finally, Choreo LLC purchased a new position in Gray Television in the second quarter worth approximately $60,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Gray Television Company Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.