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

Gray Television, Inc. (NYSE:GTN) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $11.40.

GTN has been the topic of several research reports. Wells Fargo & Company boosted their price target on Gray Television from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday, May 8th. Loop Capital upgraded Gray Television to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Benchmark boosted their price target on Gray Television from $11.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, May 8th.

Gray Television Trading Up 0.7 %

Gray Television stock opened at $5.69 on Friday. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50-day simple moving average is $5.52 and its 200-day simple moving average is $6.59. The firm has a market capitalization of $564.11 million, a PE ratio of -47.42, a PEG ratio of 0.11 and a beta of 1.52. Gray Television has a 52 week low of $4.39 and a 52 week high of $10.69.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.25. Gray Television had a return on equity of 2.13% and a net margin of 1.30%. The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. During the same period in the previous year, the company posted ($0.48) earnings per share. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts forecast that Gray Television will post 5.15 earnings per share for the current year.

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.08 dividend. The ex-dividend date was Friday, June 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.62%. Gray Television’s payout ratio is presently -266.67%.

Institutional Investors Weigh In On Gray Television

Large investors have recently bought and sold shares of the business. Hudson Edge Investment Partners Inc. bought a new stake in Gray Television during the 4th quarter worth approximately $246,000. CenterBook Partners LP bought a new stake in Gray Television during the 4th quarter worth approximately $3,671,000. CastleKnight Management LP bought a new stake in Gray Television during the 4th quarter worth approximately $1,591,000. Empowered Funds LLC bought a new stake in Gray Television during the 1st quarter worth approximately $2,010,000. Finally, Panagora Asset Management Inc. grew its position in Gray Television by 120.7% during the 4th quarter. Panagora Asset Management Inc. now owns 249,487 shares of the company’s stock worth $2,235,000 after acquiring an additional 136,441 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors.

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.