Gray Television, Inc. (NYSE:GTN) Given Average Recommendation of “Moderate Buy” by Analysts

Gray Television, Inc. (NYSE:GTN) has received a consensus rating of “Moderate Buy” from the five research firms that are covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $6.67.

Several research analysts have recently weighed in on GTN shares. Wells Fargo & Company decreased their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Benchmark cut their price objective on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Guggenheim lowered their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Barrington Research raised Gray Television to a “hold” rating in a report on Thursday, November 14th.

Institutional Trading of Gray Television

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Gray Television by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after acquiring an additional 506,106 shares during the last quarter. Capital Management Corp VA lifted its stake in Gray Television by 27.6% during the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock worth $28,988,000 after purchasing an additional 1,170,990 shares during the last quarter. State Street Corp boosted its holdings in Gray Television by 1.9% in the third quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after purchasing an additional 36,541 shares during the period. Geode Capital Management LLC increased its stake in Gray Television by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company’s stock valued at $10,568,000 after purchasing an additional 57,481 shares during the last quarter. Finally, Tributary Capital Management LLC raised its holdings in shares of Gray Television by 0.8% during the second quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock worth $6,941,000 after purchasing an additional 10,093 shares during the period. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Down 3.3 %

Shares of NYSE GTN opened at $4.21 on Thursday. The stock has a fifty day moving average price of $5.26 and a 200 day moving average price of $5.37. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television has a 12-month low of $3.95 and a 12-month high of $10.07. The company has a market cap of $419.11 million, a P/E ratio of 2.80, a P/E/G ratio of 0.17 and a beta of 1.47.

Gray Television (NYSE:GTN) last posted its earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The company had revenue of $950.00 million during 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%. Gray Television’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.57) EPS. Research analysts anticipate that Gray Television will post 2.7 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 7.61%. Gray Television’s dividend payout ratio (DPR) is 21.33%.

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.