Gray Television, Inc. (NYSE:GTN) Receives Consensus Rating of “Moderate Buy” from Brokerages

Gray Television, Inc. (NYSE:GTN) has been assigned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $6.67.

A number of brokerages recently weighed in on GTN. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday. Benchmark decreased their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday. Wells Fargo & Company dropped their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Finally, Guggenheim decreased their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday.

Hedge Funds Weigh In On Gray Television

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC acquired a new position in shares of Gray Television during the first quarter valued at $25,000. nVerses Capital LLC bought a new stake in Gray Television in the 2nd quarter valued at about $27,000. CWM LLC lifted its position in Gray Television by 733.1% in the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock valued at $39,000 after purchasing an additional 6,554 shares during the last quarter. Creative Planning acquired a new position in Gray Television during the 3rd quarter valued at about $56,000. Finally, HBK Sorce Advisory LLC bought a new position in Gray Television in the 2nd quarter worth about $58,000. 78.64% of the stock is owned by institutional investors.

Gray Television Stock Performance

Shares of NYSE:GTN opened at $4.40 on Thursday. The business has a 50-day moving average of $5.26 and a two-hundred day moving average of $5.43. The firm has a market capitalization of $438.04 million, a PE ratio of 2.93, a P/E/G ratio of 0.10 and a beta of 1.47. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63. Gray Television has a 12 month low of $3.95 and a 12 month high of $10.07.

Gray Television (NYSE:GTN) last posted its earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $967.49 million. During the same period last year, the company posted ($0.57) EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, research analysts forecast that Gray Television will post 4.37 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 7.28%. The ex-dividend date is Friday, December 13th. Gray Television’s dividend payout ratio (DPR) is presently 21.33%.

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, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.