Gray Media Inc. (NYSE:GTN) Receives $7.25 Consensus Target Price from Brokerages

Gray Media Inc. (NYSE:GTN) has received an average recommendation of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $7.25.

GTN has been the topic of several recent research reports. Benchmark increased their price objective on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Gray Media from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Wells Fargo & Company upped 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, Zacks Research raised shares of Gray Media from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th.

Gray Media Trading Up 8.3%

Shares of GTN opened at $4.71 on Thursday. Gray Media has a 1-year low of $3.13 and a 1-year high of $6.30. The company has a market capitalization of $480.84 million, a P/E ratio of 11.49 and a beta of 0.89. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s 50 day simple moving average is $4.68 and its 200 day simple moving average is $5.03.

Gray Media (NYSE:GTN) last issued its quarterly earnings results on Friday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.17. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The firm had revenue of $749.00 million for the quarter, compared to analyst estimates of $745.25 million. During the same quarter in the prior year, the firm earned $0.86 EPS. The business’s revenue for the quarter was down 21.2% compared to the same quarter last year. Sell-side analysts forecast that Gray Media will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gray Media

A number of hedge funds and other institutional investors have recently modified their holdings of GTN. Prospera Financial Services Inc purchased a new stake in Gray Media during the 4th quarter valued at about $147,000. Abacus Wealth Partners LLC bought a new stake in Gray Media in the fourth quarter valued at approximately $204,000. Versor Investments LP boosted its stake in shares of Gray Media by 52.8% during the fourth quarter. Versor Investments LP now owns 127,300 shares of the company’s stock valued at $616,000 after purchasing an additional 44,000 shares during the period. Indivisible Partners bought a new position in shares of Gray Media in the fourth quarter worth approximately $557,000. Finally, Capital Management Corp VA increased its stake in shares of Gray Media by 4.1% in the fourth quarter. Capital Management Corp VA now owns 6,149,022 shares of the company’s stock worth $29,761,000 after buying an additional 242,525 shares during the period. Institutional investors 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.