Wolfe Research initiated coverage on shares of Gray Television (NYSE:GTN) in a research report released on Friday, The Fly reports. The firm issued an outperform rating on the stock.
A number of other research firms also recently issued reports on GTN. Zacks Investment Research upgraded shares of Gray Television from a hold rating to a buy rating and set a $22.00 price objective on the stock in a report on Friday, November 9th. Noble Financial reiterated a buy rating on shares of Gray Television in a report on Wednesday, November 7th. Benchmark lifted their price objective on shares of Gray Television from $28.00 to $29.00 and gave the company a buy rating in a report on Wednesday, November 7th. Finally, ValuEngine upgraded shares of Gray Television from a hold rating to a buy rating in a report on Monday, October 22nd. One analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus target price of $22.25.
Shares of NYSE GTN traded down $0.41 during midday trading on Friday, reaching $17.28. The company’s stock had a trading volume of 2,712,643 shares, compared to its average volume of 720,175. The company has a quick ratio of 6.32, a current ratio of 6.32 and a debt-to-equity ratio of 1.64. Gray Television has a fifty-two week low of $10.70 and a fifty-two week high of $20.24. The company has a market capitalization of $1.57 billion, a PE ratio of 14.77, a price-to-earnings-growth ratio of 0.78 and a beta of 2.08.
Gray Television (NYSE:GTN) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. Gray Television had a net margin of 29.12% and a return on equity of 14.95%. The company had revenue of $279.00 million for the quarter, compared to the consensus estimate of $276.52 million. During the same period last year, the company earned $0.21 earnings per share. The firm’s revenue was up 27.4% compared to the same quarter last year. As a group, sell-side analysts expect that Gray Television will post 2.27 EPS for the current year.
Institutional investors and hedge funds have recently modified their holdings of the stock. First Trust Advisors LP increased its holdings in Gray Television by 32.8% during the second quarter. First Trust Advisors LP now owns 228,935 shares of the company’s stock worth $3,617,000 after buying an additional 56,573 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Gray Television by 16.5% during the second quarter. Public Employees Retirement System of Ohio now owns 250,449 shares of the company’s stock worth $3,957,000 after buying an additional 35,510 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Gray Television during the third quarter worth $289,000. Chicago Equity Partners LLC acquired a new position in Gray Television during the second quarter worth $553,000. Finally, James Investment Research Inc. increased its holdings in Gray Television by 287.2% during the third quarter. James Investment Research Inc. now owns 176,686 shares of the company’s stock worth $3,092,000 after buying an additional 131,049 shares during the last quarter. Institutional investors and hedge funds own 86.51% 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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