Brokerages forecast that Gray Television, Inc. (NYSE:GTN) will report earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Gray Television’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.30. Gray Television reported earnings of $0.49 per share in the same quarter last year, which indicates a negative year over year growth rate of 49%. The firm is scheduled to announce its next quarterly earnings results before the market opens on Tuesday, February 27th.
On average, analysts expect that Gray Television will report full-year earnings of $1.57 per share for the current fiscal year, with EPS estimates ranging from $1.55 to $1.63. For the next year, analysts forecast that the business will report earnings of $1.66 per share, with EPS estimates ranging from $1.50 to $1.86. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research firms that cover Gray Television.
Several equities research analysts have recently issued reports on GTN shares. ValuEngine lowered Gray Television from a “buy” rating to a “hold” rating in a report on Wednesday, January 3rd. Zacks Investment Research lowered Gray Television from a “hold” rating to a “strong sell” rating in a report on Friday, December 15th. Benchmark reiterated a “buy” rating and set a $21.00 price target on shares of Gray Television in a report on Tuesday, November 7th. Jefferies Group began coverage on Gray Television in a report on Thursday, December 14th. They issued a “buy” rating and a $18.00 target price for the company. Finally, Guggenheim set a $21.00 target price on Gray Television and gave the stock a “buy” rating in a report on Monday, January 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $18.57.
In related news, EVP Kevin Paul Latek sold 97,634 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $16.96, for a total value of $1,655,872.64. Following the completion of the sale, the executive vice president now directly owns 219,706 shares in the company, valued at approximately $3,726,213.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 12.00% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Skylands Capital LLC lifted its holdings in shares of Gray Television by 40.0% during the third quarter. Skylands Capital LLC now owns 53,200 shares of the company’s stock worth $835,000 after buying an additional 15,200 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Gray Television by 5.3% during the second quarter. Vanguard Group Inc. now owns 2,861,369 shares of the company’s stock worth $39,201,000 after buying an additional 145,189 shares during the last quarter. ClariVest Asset Management LLC lifted its holdings in shares of Gray Television by 50.9% during the third quarter. ClariVest Asset Management LLC now owns 148,191 shares of the company’s stock worth $2,325,000 after buying an additional 49,959 shares during the last quarter. Virginia Retirement Systems ET AL lifted its holdings in shares of Gray Television by 47.4% during the third quarter. Virginia Retirement Systems ET AL now owns 90,800 shares of the company’s stock worth $1,426,000 after buying an additional 29,200 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Gray Television by 46.0% during the third quarter. Ameriprise Financial Inc. now owns 106,039 shares of the company’s stock worth $1,665,000 after buying an additional 33,403 shares during the last quarter. Hedge funds and other institutional investors own 74.42% of the company’s stock.
Shares of Gray Television (NYSE:GTN) traded up $0.12 during trading on Wednesday, hitting $15.12. The stock had a trading volume of 303,298 shares, compared to its average volume of 799,434. The firm has a market cap of $1,340.00, a price-to-earnings ratio of 8.34, a price-to-earnings-growth ratio of 1.96 and a beta of 2.46. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 3.11. Gray Television has a fifty-two week low of $11.70 and a fifty-two week high of $17.80.
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Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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