Gray Television (NYSE:GTN) Issues Quarterly Earnings Results

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Gray Television (NYSE:GTN) released its quarterly earnings data on Sunday. The company reported $0.27 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.09, reports. Gray Television had a return on equity of 18.71% and a net margin of 12.91%. The firm had revenue of $544.00 million during the quarter, compared to the consensus estimate of $532.96 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s quarterly revenue was up 1.9% on a year-over-year basis.

Shares of NYSE GTN traded down $0.70 during trading on Tuesday, hitting $21.47. The stock had a trading volume of 1,534,658 shares, compared to its average volume of 674,681. The firm has a fifty day moving average of $19.57 and a two-hundred day moving average of $17.83. The company has a market capitalization of $2.05 billion, a PE ratio of 9.21, a PEG ratio of 1.17 and a beta of 2.06. The company has a debt-to-equity ratio of 2.37, a current ratio of 2.67 and a quick ratio of 2.67. Gray Television has a 12 month low of $11.02 and a 12 month high of $23.25.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Friday, March 12th. Gray Television’s dividend payout ratio is 25.20%.

A number of analysts have commented on GTN shares. Loop Capital boosted their price target on shares of Gray Television from $23.00 to $25.00 and gave the company a “buy” rating in a research note on Tuesday, January 5th. Zacks Investment Research upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Thursday, March 4th. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $21.00.

In related news, EVP Kevin Paul Latek sold 27,670 shares of the business’s stock in a transaction dated Friday, April 16th. The shares were sold at an average price of $20.02, for a total transaction of $553,953.40. Following the transaction, the executive vice president now directly owns 214,001 shares in the company, valued at $4,284,300.02. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders have sold 76,350 shares of company stock worth $1,497,227 over the last three months. 10.27% of the stock is owned by insiders.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and/or operates television stations and digital assets in the United States. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, Circle, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

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Earnings History for Gray Television (NYSE:GTN)

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