Analysts Set Gray Television, Inc. (NYSE:GTN) Target Price at $6.67

Gray Television, Inc. (NYSE:GTNGet Free Report) has been assigned a consensus rating of “Moderate Buy” from the five analysts that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, one has given a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $6.67.

GTN has been the topic of several recent analyst reports. Benchmark reduced their price objective on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday, November 11th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim reduced their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, Barrington Research raised shares of Gray Television to a “hold” rating in a report on Thursday, November 14th.

Get Our Latest Report on Gray Television

Insiders Place Their Bets

In other Gray Television news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the transaction, the executive vice president now owns 509,212 shares in the company, valued at approximately $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 4.80% of the company’s stock.

Institutional Investors Weigh In On Gray Television

A number of institutional investors have recently modified their holdings of the stock. Creative Planning purchased a new position in shares of Gray Television during the 3rd quarter valued at about $56,000. Wilmington Savings Fund Society FSB bought a new position in shares of Gray Television during the 3rd quarter valued at approximately $59,000. MML Investors Services LLC purchased a new position in shares of Gray Television during the 3rd quarter worth about $65,000. EP Wealth Advisors LLC bought a new position in Gray Television in the 3rd quarter valued at $67,000. Finally, nVerses Capital LLC increased its stake in Gray Television by 180.4% in the 3rd quarter. nVerses Capital LLC now owns 14,300 shares of the company’s stock worth $77,000 after buying an additional 9,200 shares during the period. 78.64% of the stock is owned by hedge funds and other institutional investors.

Gray Television Stock Performance

Shares of Gray Television stock opened at $3.72 on Tuesday. The business has a 50-day moving average of $3.62 and a 200 day moving average of $4.67. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. Gray Television has a 12 month low of $2.91 and a 12 month high of $9.95. The stock has a market capitalization of $370.27 million, a price-to-earnings ratio of 2.48 and a beta of 1.39.

Gray Television (NYSE:GTNGet Free Report) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the prior year, the company posted ($0.57) earnings per share. As a group, sell-side analysts forecast that Gray Television will post 3.06 earnings per share for the current year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a yield of 8.61%. Gray Television’s dividend payout ratio (DPR) is presently 21.33%.

Gray Television Company Profile

(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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