Gray Television, Inc. (NYSE:GTN) Given Average Recommendation of “Hold” by Analysts
Gray Television, Inc. (NYSE:GTN – Get Free Report) has received an average rating of “Hold” from the five research firms that are currently covering the firm, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating on the company. The average twelve-month target price among analysts that have updated their coverage on the stock in the last year is $12.80.
A number of brokerages recently issued reports on GTN. TheStreet lowered shares of Gray Television from a “c” rating to a “d+” rating in a research report on Friday, November 10th. Barrington Research restated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. StockNews.com upgraded Gray Television to a “sell” rating in a research report on Thursday, December 14th. Finally, Wells Fargo & Company upped their price objective on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, February 9th.
Get Our Latest Stock Report on GTN
Gray Television Price Performance
Shares of NYSE GTN opened at $5.87 on Friday. Gray Television has a 1-year low of $5.44 and a 1-year high of $10.69. The firm has a market capitalization of $570.56 million, a PE ratio of -4.22, a P/E/G ratio of 0.15 and a beta of 1.56. 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 business’s fifty day moving average price is $8.19 and its two-hundred day moving average price is $7.73.
Gray Television (NYSE:GTN – Get Free Report) last released its quarterly earnings results 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). Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The business had revenue of $864.00 million for the quarter, compared to the consensus estimate of $863.31 million. During the same period last year, the firm posted $1.88 EPS. The business’s quarterly revenue was down 19.4% on a year-over-year basis. On average, research analysts expect that Gray Television will post 3.78 EPS for the current year.
Gray Television Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 28th. Stockholders of record on Friday, March 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend is Thursday, March 14th. Gray Television’s dividend payout ratio is presently -23.02%.
Institutional Trading of Gray Television
A number of hedge funds have recently bought and sold shares of GTN. Readystate Asset Management LP grew its position in Gray Television by 61.9% during the fourth quarter. Readystate Asset Management LP now owns 85,822 shares of the company’s stock valued at $769,000 after purchasing an additional 32,822 shares in the last quarter. FIL Ltd grew its holdings in shares of Gray Television by 8.0% during the 4th quarter. FIL Ltd now owns 123,185 shares of the company’s stock valued at $1,104,000 after acquiring an additional 9,171 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Gray Television by 7.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 88,337 shares of the company’s stock worth $792,000 after acquiring an additional 6,277 shares during the last quarter. GSA Capital Partners LLP raised its holdings in shares of Gray Television by 107.9% during the fourth quarter. GSA Capital Partners LLP now owns 44,310 shares of the company’s stock worth $397,000 after acquiring an additional 22,994 shares in the last quarter. Finally, Legal & General Group Plc boosted its position in Gray Television by 3.3% during the fourth quarter. Legal & General Group Plc now owns 78,321 shares of the company’s stock valued at $702,000 after purchasing an additional 2,527 shares during the last quarter. 77.01% of the stock is owned by hedge funds and other institutional investors.
Gray Television Company Profile
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, Antenna TV, Telemundo, and Cozi; and local news/weather channels in various markets.
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