Gray Television (NYSE:GTN) Rating Increased to Hold at Barrington Research

Gray Television (NYSE:GTN) was upgraded by research analysts at Barrington Research to a “hold” rating in a research report issued to clients and investors on Thursday,Zacks.com reports.

Several other research firms have also recently weighed in on GTN. Wells Fargo & Company decreased their price target on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Benchmark cut their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Guggenheim dropped their price objective on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Down 2.1 %

Shares of NYSE GTN opened at $4.69 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a market cap of $467.45 million, a P/E ratio of 3.13, a P/E/G ratio of 0.12 and a beta of 1.47. Gray Television has a 52 week low of $3.95 and a 52 week high of $10.07. The business has a 50-day simple moving average of $5.27 and a two-hundred day simple moving average of $5.42.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. Gray Television’s revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.57) earnings per share. Research analysts anticipate that Gray Television will post 3.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gray Television

Institutional investors and hedge funds have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC purchased a new stake in Gray Television during the first quarter valued at about $25,000. nVerses Capital LLC purchased a new stake in Gray Television during the 2nd quarter valued at about $27,000. CWM LLC grew its position in Gray Television by 733.1% during the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after acquiring an additional 6,554 shares during the last quarter. Creative Planning purchased a new position in Gray Television in the 3rd quarter worth approximately $56,000. Finally, HBK Sorce Advisory LLC bought a new stake in Gray Television in the second quarter valued at approximately $58,000. Institutional investors own 78.64% of the company’s stock.

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.