Gray Television (NYSE:GTN) Earns “Buy” Rating from Noble Financial

Gray Television (NYSE:GTN)‘s stock had its “buy” rating reiterated by equities researchers at Noble Financial in a report issued on Thursday, May 10th.

A number of other brokerages also recently issued reports on GTN. Barrington Research reiterated a “buy” rating and issued a $22.00 price target on shares of Gray Television in a report on Tuesday, February 27th. Zacks Investment Research downgraded Gray Television from a “hold” rating to a “sell” rating in a research note on Wednesday, February 28th. Benchmark restated a “buy” rating and set a $20.00 target price on shares of Gray Television in a research note on Thursday, May 3rd. Guggenheim set a $21.00 target price on Gray Television and gave the stock a “buy” rating in a research note on Monday, January 22nd. Finally, ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Two investment analysts have rated the stock with a sell rating and eight have assigned a buy rating to the company. The company has an average rating of “Buy” and an average price target of $18.86.

Shares of Gray Television traded up $0.07, reaching $11.60, on Thursday, Marketbeat.com reports. The company had a trading volume of 1,347,224 shares, compared to its average volume of 1,106,320. Gray Television has a 52-week low of $10.70 and a 52-week high of $17.80. The company has a market capitalization of $1.07 billion, a PE ratio of 10.63, a P/E/G ratio of 0.99 and a beta of 2.49. The company has a current ratio of 6.46, a quick ratio of 6.46 and a debt-to-equity ratio of 1.85.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, May 8th. The company reported $0.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.07. Gray Television had a return on equity of 11.06% and a net margin of 29.97%. The business had revenue of $226.26 million for the quarter, compared to the consensus estimate of $225.41 million. During the same period last year, the business posted $0.14 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. research analysts predict that Gray Television will post 1.99 EPS for the current year.

In other Gray Television news, major shareholder Harriett J. Robinson bought 8,214 shares of the company’s stock in a transaction that occurred on Thursday, March 15th. The shares were purchased at an average cost of $11.60 per share, for a total transaction of $95,282.40. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 9.98% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of GTN. Element Capital Management LLC acquired a new stake in Gray Television during the 1st quarter worth about $146,000. Guggenheim Capital LLC acquired a new stake in Gray Television during the 4th quarter worth about $167,000. DekaBank Deutsche Girozentrale acquired a new stake in Gray Television during the 1st quarter worth about $167,000. Tower Research Capital LLC TRC lifted its position in Gray Television by 77.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,758 shares of the company’s stock worth $180,000 after acquiring an additional 4,706 shares during the period. Finally, Xact Kapitalforvaltning AB acquired a new stake in Gray Television during the 1st quarter worth about $187,000. 84.08% of the stock is owned by institutional investors.

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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