Brokerages expect that Gray Television, Inc. (NYSE:GTN) will post earnings of $0.25 per share for the current quarter, according to Zacks Investment Research. Two analysts have provided estimates for Gray Television’s earnings, with the highest EPS estimate coming in at $0.27 and the lowest estimate coming in at $0.24. Gray Television reported earnings of $0.24 per share during the same quarter last year, which indicates a positive year over year growth rate of 4.2%. The company is scheduled to issue its next quarterly earnings report before the market opens on Tuesday, August 8th.

According to Zacks, analysts expect that Gray Television will report full-year earnings of $0.93 per share for the current financial year, with EPS estimates ranging from $0.90 to $0.96. For the next year, analysts expect that the firm will report earnings of $1.74 per share, with EPS estimates ranging from $1.70 to $1.78. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that cover Gray Television.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $203.46 million for the quarter, compared to the consensus estimate of $194.68 million. Gray Television had a net margin of 7.57% and a return on equity of 17.77%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.12 EPS.

A number of brokerages have recently commented on GTN. Benchmark Co. reaffirmed a “buy” rating and issued a $19.00 target price on shares of Gray Television in a report on Monday, May 15th. BidaskClub cut shares of Gray Television from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and issued a $17.00 target price on shares of Gray Television in a report on Thursday, April 13th. Five investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $16.25.

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Shares of Gray Television (GTN) opened at 13.50 on Monday. The stock has a market capitalization of $971.42 million, a P/E ratio of 15.34 and a beta of 3.28. The stock has a 50 day moving average of $14.07 and a 200 day moving average of $13.42. Gray Television has a 12-month low of $7.00 and a 12-month high of $15.45.

Several institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc boosted its position in shares of Gray Television by 3.2% in the second quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock worth $226,000 after buying an additional 505 shares during the last quarter. Rhumbline Advisers boosted its position in shares of Gray Television by 0.7% in the second quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after buying an additional 535 shares during the last quarter. Cipher Capital LP boosted its position in shares of Gray Television by 1.2% in the first quarter. Cipher Capital LP now owns 82,598 shares of the company’s stock worth $1,198,000 after buying an additional 963 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Gray Television by 7.0% in the first quarter. Parametric Portfolio Associates LLC now owns 30,941 shares of the company’s stock worth $449,000 after buying an additional 2,015 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Gray Television by 5.4% in the first quarter. Metropolitan Life Insurance Co. NY now owns 44,553 shares of the company’s stock worth $646,000 after buying an additional 2,265 shares during the last quarter. 87.34% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Company Profile

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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Earnings History and Estimates for Gray Television (NYSE:GTN)

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