Noble Financial Predicts Gray Television FY2024 Earnings

Gray Television, Inc. (NYSE:GTN) – Analysts at Noble Financial issued their FY2024 earnings estimates for shares of Gray Television in a research note issued on Monday, November 11th. Noble Financial analyst M. Kupinski forecasts that the company will post earnings of $2.70 per share for the year. The consensus estimate for Gray Television’s current full-year earnings is $4.37 per share. Noble Financial also issued estimates for Gray Television’s Q4 2024 earnings at $0.96 EPS.

Several other equities research analysts also recently weighed in on GTN. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a report on Monday. Benchmark lowered their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday. Guggenheim cut 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 note on Tuesday. Finally, Wells Fargo & Company lowered their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.67.

Gray Television Stock Up 8.9 %

Shares of GTN stock opened at $4.79 on Thursday. The stock’s fifty day moving average price is $5.27 and its 200 day moving average price is $5.43. Gray Television has a 1-year low of $3.95 and a 1-year high of $10.07. The company has a market cap of $477.40 million, a price-to-earnings ratio of 3.19, a price-to-earnings-growth ratio of 0.10 and a beta of 1.47. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. During the same period in the prior year, the firm posted ($0.57) earnings per share. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year.

Institutional Trading of Gray Television

Hedge funds and other institutional investors have recently made changes to their positions in the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Gray Television by 1.1% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after purchasing an additional 2,654 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Gray Television by 3.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock worth $578,000 after buying an additional 3,068 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Gray Television by 13.7% in the second quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock worth $133,000 after buying an additional 3,097 shares during the last quarter. Rhumbline Advisers grew its holdings in Gray Television by 2.6% during the second quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock worth $726,000 after acquiring an additional 3,544 shares during the period. Finally, Dakota Wealth Management raised its position in Gray Television by 34.5% during 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. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 6.68%. The ex-dividend date is Friday, December 13th. Gray Television’s payout ratio is 21.33%.

About Gray Television

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.