Analysts Set Gray Television, Inc. (NYSE:GTN) Price Target at $8.33

Gray Television, Inc. (NYSE:GTN) has been given a consensus rating of “Moderate Buy” by the five ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $8.33.

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Benchmark decreased their price target on shares of Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Guggenheim dropped their price target on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.

Hedge Funds Weigh In On Gray Television

Several large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in shares of Gray Television by 3.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock valued at $578,000 after purchasing an additional 3,068 shares during the period. Diversified Trust Co raised its holdings in Gray Television by 13.7% during the second quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock valued at $133,000 after acquiring an additional 3,097 shares during the period. Rhumbline Advisers lifted its position in shares of Gray Television by 2.6% in the second quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock valued at $726,000 after acquiring an additional 3,544 shares in the last quarter. Dakota Wealth Management lifted its position in shares of Gray Television by 34.5% in the second quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock valued at $77,000 after acquiring an additional 3,781 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Gray Television in the first quarter worth about $25,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Trading Down 2.5 %

Shares of GTN stock opened at $5.46 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.98. Gray Television has a 12-month low of $4.15 and a 12-month high of $10.07. The stock has a market capitalization of $541.29 million, a P/E ratio of -45.50, a P/E/G ratio of 0.12 and a beta of 1.49. The firm’s 50 day moving average is $5.12 and its 200 day moving average is $5.47.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The firm had revenue of $826.00 million for the quarter, compared to the consensus estimate of $840.33 million. During the same period in the previous year, the company earned ($0.10) earnings per share. Gray Television’s quarterly revenue was up 1.6% compared to the same quarter last year. Research analysts expect that Gray Television will post 4.37 earnings per share for the current year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Friday, September 13th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.86%. The ex-dividend date was Friday, September 13th. Gray Television’s dividend payout ratio is -266.67%.

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.