Gray Television (NYSE:GTN) issued its quarterly earnings data on Thursday. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.21, Fidelity Earnings reports. Gray Television had a return on equity of 19.25% and a net margin of 10.78%. The company had revenue of $517.00 million for the quarter, compared to the consensus estimate of $513.80 million. During the same quarter last year, the business posted $0.70 earnings per share. The firm’s revenue was up 85.3% compared to the same quarter last year.
GTN traded up $1.04 during trading on Friday, reaching $19.98. The stock had a trading volume of 1,355,699 shares, compared to its average volume of 928,958. The stock has a market cap of $1.76 billion, a PE ratio of 8.22, a PEG ratio of 2.64 and a beta of 2.05. The company has a debt-to-equity ratio of 2.89, a quick ratio of 2.93 and a current ratio of 2.93. Gray Television has a one year low of $13.60 and a one year high of $25.31. The business has a 50-day moving average of $16.24 and a 200-day moving average of $17.20.
In other news, major shareholder Harriett J. Robinson bought 7,500 shares of Gray Television stock in a transaction that occurred on Monday, August 12th. The shares were acquired at an average price of $14.87 per share, with a total value of $111,525.00. Following the completion of the purchase, the insider now directly owns 1,008,467 shares in the company, valued at $14,995,904.29. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 10.14% of the stock is owned by corporate insiders.
A number of equities research analysts recently issued reports on the company. TheStreet upgraded Gray Television from a “c+” rating to a “b-” rating in a research report on Wednesday, September 11th. Wells Fargo & Co initiated coverage on Gray Television in a research note on Monday, September 23rd. They issued an “outperform” rating and a $21.00 target price on the stock. Zacks Investment Research raised Gray Television from a “sell” rating to a “hold” rating in a research note on Tuesday, October 15th. Stephens set a $27.00 target price on Gray Television and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, ValuEngine raised Gray Television from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $23.20.
About Gray Television
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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