Gray Television, Inc. (GTN) Given Consensus Recommendation of “Buy” by Brokerages
Gray Television, Inc. (NYSE:GTN) has received a consensus recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a hold recommendation, six have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $18.60.
A number of analysts recently commented on GTN shares. Royal Bank Of Canada set a $16.00 price target on shares of Gray Television and gave the company a “buy” rating in a research note on Tuesday, July 18th. BidaskClub upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 31st. Benchmark Co. upped their price target on shares of Gray Television from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Wednesday, August 9th. Wells Fargo & Company restated an “outperform” rating and set a $18.00 price target (up from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Finally, ValuEngine upgraded shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st.
A number of institutional investors have recently bought and sold shares of the stock. Parametric Portfolio Associates LLC increased its holdings in Gray Television by 1.3% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock worth $429,000 after acquiring an additional 399 shares during the period. Sterling Capital Management LLC increased its holdings in Gray Television by 0.8% during the 2nd quarter. Sterling Capital Management LLC now owns 58,513 shares of the company’s stock worth $802,000 after acquiring an additional 440 shares during the period. Legal & General Group Plc increased its holdings in Gray Television by 3.2% during the 2nd quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock worth $226,000 after acquiring an additional 505 shares during the period. Rhumbline Advisers increased its holdings in Gray Television by 0.7% during the 2nd quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after acquiring an additional 535 shares during the period. Finally, TIAA CREF Investment Management LLC increased its holdings in Gray Television by 0.4% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 373,754 shares of the company’s stock worth $5,120,000 after acquiring an additional 1,623 shares during the period. 81.57% of the stock is currently owned by institutional investors and hedge funds.
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Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.03. The company had revenue of $226.70 million for the quarter, compared to analysts’ expectations of $221.05 million. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. Gray Television’s revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.24 EPS.
About Gray Television
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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