Gray Television, Inc. (NYSE:GTN) Receives Average Recommendation of “Hold” from Brokerages

Gray Television, Inc. (NYSE:GTNGet Free Report) has been given a consensus recommendation of “Hold” by the five ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $12.80.

A number of analysts have recently commented on GTN shares. Wells Fargo & Company upped their price target on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a research note on Friday, February 9th. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Finally, StockNews.com upgraded Gray Television to a “sell” rating in a research report on Thursday, December 14th.

Check Out Our Latest Analysis on Gray Television

Insiders Place Their Bets

In other news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of Gray Television stock in a transaction on Thursday, March 28th. The stock was purchased at an average price of $8.09 per share, with a total value of $80,900.00. Following the transaction, the chief executive officer now directly owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 11.14% of the company’s stock.

Institutional Investors Weigh In On Gray Television

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of Gray Television by 5.0% during the 4th quarter. Vanguard Group Inc. now owns 5,156,292 shares of the company’s stock worth $46,200,000 after purchasing an additional 247,112 shares in the last quarter. Readystate Asset Management LP raised its stake in shares of Gray Television by 61.9% during the 4th quarter. Readystate Asset Management LP now owns 85,822 shares of the company’s stock worth $769,000 after purchasing an additional 32,822 shares in the last quarter. FIL Ltd raised its stake in shares of Gray Television by 8.0% during the 4th quarter. FIL Ltd now owns 123,185 shares of the company’s stock worth $1,104,000 after purchasing an additional 9,171 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Gray Television by 7.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 88,337 shares of the company’s stock worth $792,000 after purchasing an additional 6,277 shares in the last quarter. Finally, GSA Capital Partners LLP raised its stake in shares of Gray Television by 107.9% during the 4th quarter. GSA Capital Partners LLP now owns 44,310 shares of the company’s stock worth $397,000 after purchasing an additional 22,994 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

Gray Television Stock Performance

Shares of GTN stock opened at $6.03 on Wednesday. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. The stock has a market cap of $585.63 million, a PE ratio of -4.33, a price-to-earnings-growth ratio of 0.17 and a beta of 1.57. The stock has a 50-day moving average of $7.13 and a 200-day moving average of $7.52. Gray Television has a one year low of $5.44 and a one year high of $10.69.

Gray Television (NYSE:GTNGet Free Report) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $864.00 million during the quarter, compared to the consensus estimate of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The business’s revenue was down 19.4% compared to the same quarter last year. During the same period last year, the company earned $1.88 earnings per share. As a group, sell-side analysts expect that Gray Television will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 5.31%. The ex-dividend date was Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is currently -23.02%.

Gray Television Company Profile

(Get Free Report

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.

See Also

Analyst Recommendations for Gray Television (NYSE:GTN)

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