Analysts Set Gray Television, Inc. (NYSE:GTN) PT at $12.80

Gray Television, Inc. (NYSE:GTNGet Free Report) has received a consensus rating of “Hold” from the five brokerages that are presently covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.80.

GTN has been the topic of a number of research analyst reports. Wells Fargo & Company lifted their target price on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th.

Read Our Latest Report on GTN

Gray Television Trading Up 7.3 %

Shares of Gray Television stock opened at $6.44 on Friday. Gray Television has a 12-month low of $5.44 and a 12-month high of $10.69. The stock has a market cap of $625.97 million, a PE ratio of -4.63, a price-to-earnings-growth ratio of 0.14 and a beta of 1.55. The company has a 50-day moving average of $5.90 and a two-hundred day moving average of $7.39. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 3.12.

Gray Television (NYSE:GTNGet Free Report) last issued its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $864.00 million for the quarter, compared to analysts’ expectations of $863.31 million. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The company’s revenue for the quarter was down 19.4% on a year-over-year basis. During the same period last year, the business earned $1.88 earnings per share. On average, research analysts anticipate that Gray Television will post 4.21 EPS for the current fiscal year.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 4.97%. Gray Television’s dividend payout ratio is currently -23.02%.

Insider Buying and Selling

In other news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of Gray Television stock in a transaction dated Thursday, March 28th. The stock was bought at an average price of $8.09 per share, with a total value of $80,900.00. Following the completion of the acquisition, the chief executive officer now owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Gray Television

Several institutional investors have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC acquired a new stake in Gray Television in the 1st quarter valued at about $25,000. CWM LLC raised its position in shares of Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock worth $27,000 after purchasing an additional 1,149 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in shares of Gray Television in the 3rd quarter valued at $41,000. Sonora Investment Management Group LLC acquired a new position in shares of Gray Television in the third quarter worth about $73,000. Finally, Oak Thistle LLC acquired a new stake in Gray Television during the 3rd quarter valued at $74,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Gray Television

(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.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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