A number of other analysts also recently commented on GTN. ValuEngine upgraded Gray Television from a hold rating to a buy rating in a research report on Wednesday, July 11th. Barrington Research reiterated an outperform rating on shares of Gray Television in a research report on Monday, July 16th. Zacks Investment Research upgraded Gray Television from a hold rating to a buy rating and set a $19.00 price objective for the company in a research report on Wednesday, September 5th. Finally, Benchmark raised their price objective on Gray Television from $28.00 to $29.00 and gave the stock a buy rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $22.25.
Shares of GTN stock traded down $0.25 during mid-day trading on Wednesday, reaching $19.66. The stock had a trading volume of 1,090,504 shares, compared to its average volume of 1,049,485. The company has a current ratio of 6.32, a quick ratio of 4.69 and a debt-to-equity ratio of 1.64. Gray Television has a one year low of $10.70 and a one year high of $20.24. The company has a market capitalization of $1.73 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.97 and a beta of 2.23.
Gray Television (NYSE:GTN) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The company had revenue of $279.00 million during the quarter, compared to the consensus estimate of $276.52 million. During the same quarter last year, the company earned $0.21 EPS. The company’s quarterly revenue was up 27.4% on a year-over-year basis. Sell-side analysts predict that Gray Television will post 2.18 earnings per share for the current fiscal year.
Several institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its position in shares of Gray Television by 5.6% during the 2nd quarter. Rhumbline Advisers now owns 80,504 shares of the company’s stock worth $1,272,000 after buying an additional 4,300 shares during the period. State Board of Administration of Florida Retirement System lifted its position in shares of Gray Television by 26.0% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 24,546 shares of the company’s stock worth $430,000 after buying an additional 5,070 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Gray Television by 168.0% during the 3rd quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the company’s stock worth $155,000 after buying an additional 5,542 shares during the period. California Public Employees Retirement System lifted its position in shares of Gray Television by 4.0% during the 2nd quarter. California Public Employees Retirement System now owns 150,028 shares of the company’s stock worth $2,370,000 after buying an additional 5,728 shares during the period. Finally, Meeder Asset Management Inc. lifted its position in shares of Gray Television by 1,231.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 7,974 shares of the company’s stock worth $139,000 after buying an additional 7,375 shares during the period. Institutional investors and hedge funds own 88.60% of the company’s stock.
About Gray Television
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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