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

Gray Television, Inc. (NYSE:GTN) has earned a consensus rating of “Moderate Buy” from the five research firms that are presently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $8.33.

GTN has been the topic of several analyst reports. Guggenheim dropped their price target on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Benchmark dropped their price objective on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company dropped their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th.

Institutional Investors Weigh In On Gray Television

A number of large investors have recently bought and sold shares of GTN. Capital Management Corp VA grew its stake in Gray Television by 18.6% during the first quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock worth $23,197,000 after buying an additional 575,527 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of Gray Television by 232.4% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 813,000 shares of the company’s stock valued at $5,138,000 after purchasing an additional 568,400 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 purchasing an additional 506,106 shares in the last quarter. CenterBook Partners LP acquired a new stake in shares of Gray Television in the 4th quarter valued at approximately $3,671,000. Finally, Empowered Funds LLC acquired a new stake in shares of Gray Television in the 1st quarter valued at approximately $2,010,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Stock Up 0.6 %

Gray Television stock opened at $5.39 on Wednesday. The stock has a market capitalization of $534.35 million, a PE ratio of -44.92, a price-to-earnings-growth ratio of 0.10 and a beta of 1.49. Gray Television has a twelve month low of $4.15 and a twelve month high of $10.07. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98. The company has a 50 day moving average of $5.11 and a 200-day moving average of $5.52.

Gray Television (NYSE:GTN) last announced its earnings results on Thursday, August 8th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The business had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. During the same quarter in the previous year, the company posted ($0.10) EPS. The business’s revenue for the quarter was up 1.6% compared to the same quarter last year. On average, equities research analysts anticipate that Gray Television will post 4.97 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Friday, September 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, September 13th. This represents a $0.32 dividend on an annualized basis and a yield of 5.94%. Gray Television’s payout ratio is -266.67%.

About Gray Television

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.