Gray Television (NYSE:GTN) was downgraded by analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

A number of other research analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Thursday, November 9th. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Gray Television in a research note on Tuesday, November 7th. Guggenheim assumed coverage on shares of Gray Television in a research note on Wednesday, October 18th. They set a “buy” rating and a $20.00 price target on the stock. Royal Bank Of Canada restated a “buy” rating and set a $17.00 price target on shares of Gray Television in a research note on Wednesday, September 27th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $18.00 price target (up previously from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Gray Television currently has a consensus rating of “Buy” and a consensus price target of $18.50.

Gray Television (NYSE:GTN) traded down $3.35 during midday trading on Thursday, hitting $12.00. 108 shares of the company traded hands, compared to its average volume of 948,521. The company has a debt-to-equity ratio of 3.11, a quick ratio of 3.28 and a current ratio of 3.28. The company has a market cap of $1,157.99, a price-to-earnings ratio of 13.99, a PEG ratio of 1.52 and a beta of 3.22. Gray Television has a 1 year low of $9.60 and a 1 year high of $16.70.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The company’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. analysts anticipate that Gray Television will post 1.61 EPS for the current year.

Institutional investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in Gray Television by 4,901.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after purchasing an additional 7,303 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Gray Television in the second quarter worth $153,000. SG Americas Securities LLC acquired a new stake in shares of Gray Television in the third quarter worth $163,000. Macquarie Group Ltd. acquired a new stake in shares of Gray Television in the third quarter worth $166,000. Finally, Stifel Financial Corp acquired a new stake in shares of Gray Television in the third quarter worth $175,000. Institutional investors and hedge funds own 83.41% of the company’s stock.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gray Television (NYSE:GTN)

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