Wall Street Zen Downgrades Gray Media (NYSE:GTN) to Sell

Gray Media (NYSE:GTN) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other equities research analysts also recently commented on the company. Benchmark raised their target price on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 10th. Zacks Research raised shares of Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $7.25.

Gray Media Stock Performance

NYSE:GTN opened at $4.51 on Friday. The firm’s fifty day simple moving average is $4.73 and its 200 day simple moving average is $5.06. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. Gray Media has a twelve month low of $3.13 and a twelve month high of $6.30. The firm has a market capitalization of $459.92 million, a price-to-earnings ratio of 10.99 and a beta of 0.89.

Gray Media (NYSE:GTN) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.41) by $0.17. The company had revenue of $749.00 million for the quarter, compared to analyst estimates of $745.25 million. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The firm’s revenue was down 21.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 earnings per share. As a group, equities research analysts expect that Gray Media will post 3.32 earnings per share for the current fiscal year.

Institutional Trading of Gray Media

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new stake in shares of Gray Media in the first quarter worth $28,000. M&T Bank Corp bought a new position in Gray Media during the 4th quarter valued at $51,000. Merit Financial Group LLC acquired a new position in Gray Media during the 3rd quarter worth $59,000. FNY Investment Advisers LLC increased its position in shares of Gray Media by 27.4% in the 4th quarter. FNY Investment Advisers LLC now owns 13,000 shares of the company’s stock worth $62,000 after purchasing an additional 2,799 shares during the last quarter. Finally, Wealth Alliance LLC bought a new stake in shares of Gray Media in the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.