Gray Television’s (GTN) Buy Rating Reiterated at Noble Financial

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Noble Financial restated their buy rating on shares of Gray Television (NYSE:GTN) in a research report released on Wednesday morning.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research raised Gray Television from a hold rating to a buy rating and set a $19.00 price target for the company in a research note on Wednesday, September 5th. Barrington Research reaffirmed a buy rating and set a $19.00 price target on shares of Gray Television in a research note on Tuesday, August 7th. ValuEngine raised Gray Television from a hold rating to a buy rating in a research note on Monday, October 22nd. Finally, Benchmark raised their price target on Gray Television from $28.00 to $29.00 and gave the stock a buy rating in a research note on Wednesday. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of Buy and a consensus price target of $22.25.

Gray Television stock traded down $0.25 during mid-day trading on Wednesday, hitting $19.66. The company’s stock had a trading volume of 1,090,504 shares, compared to its average volume of 1,049,485. The company has a market cap of $1.73 billion, a P/E ratio of 10.93, a P/E/G ratio of 0.97 and a beta of 2.23. The company has a current ratio of 6.32, a quick ratio of 4.69 and a debt-to-equity ratio of 1.64. Gray Television has a 52-week low of $10.70 and a 52-week high of $20.24.

Gray Television (NYSE:GTN) last announced its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The firm had revenue of $279.00 million during the quarter, compared to the consensus estimate of $276.52 million. During the same period in the prior year, the business earned $0.21 EPS. The business’s revenue for the quarter was up 27.4% on a year-over-year basis. On average, equities analysts forecast that Gray Television will post 2.18 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP increased its holdings in shares of Gray Television by 32.8% during the 2nd quarter. First Trust Advisors LP now owns 228,935 shares of the company’s stock valued at $3,617,000 after acquiring an additional 56,573 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Gray Television by 16.5% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 250,449 shares of the company’s stock valued at $3,957,000 after acquiring an additional 35,510 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Gray Television during the 3rd quarter valued at about $289,000. Chicago Equity Partners LLC acquired a new position in shares of Gray Television during the 2nd quarter valued at about $553,000. Finally, BlackRock Inc. increased its holdings in shares of Gray Television by 5.9% during the 2nd quarter. BlackRock Inc. now owns 5,535,604 shares of the company’s stock valued at $87,464,000 after acquiring an additional 308,617 shares during the last quarter. 88.60% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Company Profile

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.

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