Guggenheim Analysts Give Gray Television (GTN) a $21.00 Price Target

Gray Television (NYSE:GTN) received a $21.00 target price from equities researchers at Guggenheim in a report issued on Monday. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 21.04% from the company’s previous close.

Other research analysts have also recently issued reports about the company. 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. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, November 8th. 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. Jefferies Group initiated coverage on Gray Television in a research note on Thursday, December 14th. They set a “buy” rating and a $18.00 price target on the stock. Finally, ValuEngine cut Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 30th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $18.57.

Gray Television (GTN) remained flat at $$17.35 on Monday. 793,900 shares of the company were exchanged, compared to its average volume of 905,754. The company has a debt-to-equity ratio of 3.11, a current ratio of 3.28 and a quick ratio of 3.28. Gray Television has a fifty-two week low of $10.50 and a fifty-two week high of $17.50. The stock has a market capitalization of $1,550.00, a price-to-earnings ratio of 9.53, a PEG ratio of 2.27 and a beta of 3.13.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The firm had revenue of $219.00 million for the quarter, compared to analyst estimates of $218.78 million. During the same quarter last year, the company earned $0.26 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. equities research analysts expect that Gray Television will post 1.57 EPS for the current year.

In other news, EVP Kevin Paul Latek sold 97,634 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $16.96, for a total transaction of $1,655,872.64. Following the sale, the executive vice president now owns 219,706 shares of the company’s stock, valued at $3,726,213.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of GTN. FMR LLC increased its holdings in Gray Television by 52.1% in the second quarter. FMR LLC now owns 5,870,039 shares of the company’s stock valued at $80,419,000 after buying an additional 2,011,342 shares during the last quarter. Royal Bank of Canada increased its holdings in Gray Television by 221.6% in the second quarter. Royal Bank of Canada now owns 2,688,226 shares of the company’s stock valued at $36,828,000 after buying an additional 1,852,301 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in Gray Television in the third quarter valued at $8,728,000. Thrivent Financial For Lutherans purchased a new position in Gray Television in the second quarter valued at $6,612,000. Finally, JPMorgan Chase & Co. increased its holdings in Gray Television by 269.6% in the second quarter. JPMorgan Chase & Co. now owns 461,610 shares of the company’s stock valued at $6,323,000 after buying an additional 336,726 shares during the last quarter. 67.79% of the stock is currently owned by hedge funds and other institutional investors.

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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).

Analyst Recommendations for Gray Television (NYSE:GTN)

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