Gray Television (NYSE:GTN) had its price objective lifted by Barrington Research from $26.00 to $30.00 in a research report released on Monday, The Fly reports. They currently have an outperform rating on the stock.
Several other brokerages have also issued reports on GTN. Zacks Investment Research lowered Gray Television from a strong-buy rating to a hold rating in a research report on Saturday, January 4th. Wells Fargo & Co initiated coverage on Gray Television in a research report on Monday, September 23rd. They issued an outperform rating and a $21.00 price objective for the company. Finally, ValuEngine upgraded Gray Television from a sell rating to a hold rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus price target of $24.60.
Shares of GTN opened at $22.44 on Monday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.70 and a current ratio of 2.70. The stock has a 50 day simple moving average of $20.97 and a 200 day simple moving average of $17.78. Gray Television has a 52-week low of $13.60 and a 52-week high of $25.31. The firm has a market capitalization of $2.18 billion, a PE ratio of 9.23, a P/E/G ratio of 0.72 and a beta of 2.10.
Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.21. Gray Television had a return on equity of 16.93% and a net margin of 8.56%. The business had revenue of $517.00 million during the quarter, compared to analyst estimates of $513.80 million. During the same period in the previous year, the firm earned $0.70 EPS. Gray Television’s quarterly revenue was up 85.3% compared to the same quarter last year. Equities research analysts predict that Gray Television will post 0.95 EPS for the current fiscal year.
Large investors have recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd boosted its position in Gray Television by 134.9% during the 2nd quarter. Point72 Hong Kong Ltd now owns 5,945 shares of the company’s stock worth $97,000 after acquiring an additional 3,414 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Gray Television by 30,072.0% during the 3rd quarter. Tower Research Capital LLC TRC now owns 7,543 shares of the company’s stock worth $123,000 after acquiring an additional 7,518 shares during the last quarter. Bank of Montreal Can boosted its position in Gray Television by 3,422.7% during the 2nd quarter. Bank of Montreal Can now owns 7,926 shares of the company’s stock worth $130,000 after acquiring an additional 7,701 shares during the last quarter. Creative Planning acquired a new position in Gray Television during the 3rd quarter worth approximately $215,000. Finally, Wiley BROS. Aintree Capital LLC acquired a new position in Gray Television during the 3rd quarter worth approximately $253,000. 86.86% of the stock is owned by hedge funds and other institutional investors.
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 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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