Gray Television (NYSE:GTN) Upgraded to Hold at StockNews.com

Gray Television (NYSE:GTN) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued on Monday.

A number of other equities analysts have also recently issued reports on the company. Guggenheim dropped their target price on Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a report on Wednesday, August 14th. Wells Fargo & Company dropped their price objective on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reduced their target price 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. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Gray Television currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Trading Down 2.7 %

Shares of Gray Television stock opened at $4.39 on Monday. Gray Television has a 52-week low of $3.95 and a 52-week high of $10.07. The firm has a market capitalization of $437.55 million, a PE ratio of 2.93, a price-to-earnings-growth ratio of 0.10 and a beta of 1.47. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.63 and a quick ratio of 1.63. The company’s fifty day moving average price is $5.27 and its two-hundred day moving average price is $5.44.

Gray Television (NYSE:GTN) last issued its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $967.49 million. During the same quarter last year, the firm posted ($0.57) earnings per share. Gray Television’s revenue was up 18.3% on a year-over-year basis. On average, analysts expect that Gray Television will post 4.37 EPS for the current year.

Hedge Funds Weigh In On Gray Television

Institutional investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC acquired a new stake in shares of Gray Television in the first quarter valued at $25,000. nVerses Capital LLC acquired a new stake in Gray Television in the 2nd quarter valued at about $27,000. CWM LLC increased 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 acquiring an additional 6,554 shares in the last quarter. Creative Planning bought a new position in shares of Gray Television in the third quarter worth about $56,000. Finally, HBK Sorce Advisory LLC acquired a new position in shares of Gray Television during the second quarter worth approximately $58,000. Institutional investors own 78.64% of the company’s stock.

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.