Gray Television (GTN) Receives Average Recommendation of “Buy” from Analysts

Shares of Gray Television (NYSE:GTN) have earned an average rating of “Buy” from the ten ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation and nine have given a buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $19.33.

Several equities research analysts recently issued reports on GTN shares. ValuEngine cut shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Wednesday, January 3rd. Barrington Research restated a “buy” rating and set a $22.00 price objective on shares of Gray Television in a research report on Tuesday, February 27th. Zacks Investment Research cut shares of Gray Television from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. Noble Financial restated a “buy” rating on shares of Gray Television in a research report on Monday, March 5th. Finally, Guggenheim set a $21.00 price objective on shares of Gray Television and gave the stock a “buy” rating in a research report on Monday, January 22nd.

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In related news, major shareholder Harriett J. Robinson purchased 8,214 shares of the company’s stock in a transaction on Thursday, March 15th. The stock was acquired at an average cost of $11.60 per share, for a total transaction of $95,282.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.98% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in GTN. Ameriprise Financial Inc. increased its position in shares of Gray Television by 46.0% during the third quarter. Ameriprise Financial Inc. now owns 106,039 shares of the company’s stock valued at $1,665,000 after acquiring an additional 33,403 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of Gray Television during the third quarter valued at about $175,000. Allianz Asset Management GmbH increased its position in shares of Gray Television by 5.9% during the third quarter. Allianz Asset Management GmbH now owns 79,740 shares of the company’s stock valued at $1,252,000 after acquiring an additional 4,431 shares during the last quarter. California Public Employees Retirement System increased its position in shares of Gray Television by 2.2% during the third quarter. California Public Employees Retirement System now owns 153,139 shares of the company’s stock valued at $2,404,000 after acquiring an additional 3,339 shares during the last quarter. Finally, Dalton Greiner Hartman Maher & Co. acquired a new stake in shares of Gray Television during the fourth quarter valued at about $5,338,000. Institutional investors and hedge funds own 85.25% of the company’s stock.

Gray Television stock opened at $12.15 on Thursday. Gray Television has a 12-month low of $11.25 and a 12-month high of $17.80. The stock has a market cap of $1,065.78, a P/E ratio of 11.24, a PEG ratio of 1.48 and a beta of 2.53. The company has a quick ratio of 5.08, a current ratio of 5.08 and a debt-to-equity ratio of 1.84.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Tuesday, February 27th. The company reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.15. Gray Television had a net margin of 29.67% and a return on equity of 11.91%. The firm had revenue of $233.60 million during the quarter, compared to analysts’ expectations of $232.24 million. During the same period last year, the business earned $0.49 earnings per share. Gray Television’s revenue was down 1.7% compared to the same quarter last year. equities research analysts predict that Gray Television will post 1.86 earnings per share for the current year.

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About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Analyst Recommendations for Gray Television (NYSE:GTN)

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