Gray Television, Inc. (NYSE:GTN) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have received a consensus rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $8.33.

GTN has been the topic of several analyst reports. Guggenheim cut their price target on Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Wednesday, August 14th. Wells Fargo & Company cut their price target on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Finally, Benchmark cut their price target on Gray Television from $13.00 to $11.00 and set a “buy” rating on the stock in a research report on Friday, August 9th.

Institutional Investors Weigh In On Gray Television

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Gray Television by 9.8% during the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after acquiring an additional 506,106 shares during the period. Capital Management Corp VA boosted its holdings in Gray Television by 18.6% in the 1st quarter. Capital Management Corp VA now owns 3,670,410 shares of the company’s stock worth $23,197,000 after buying an additional 575,527 shares during the last quarter. Tributary Capital Management LLC boosted its holdings in Gray Television by 0.8% in the 2nd quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock worth $6,941,000 after buying an additional 10,093 shares during the last quarter. Clearbridge Investments LLC boosted its holdings in Gray Television by 1.9% in the 1st quarter. Clearbridge Investments LLC now owns 1,307,308 shares of the company’s stock worth $8,262,000 after buying an additional 23,878 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Gray Television by 4.8% in the 2nd quarter. AQR Capital Management LLC now owns 1,055,389 shares of the company’s stock worth $5,488,000 after buying an additional 48,623 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Television Stock Performance

Shares of GTN stock opened at $5.55 on Friday. The firm has a market capitalization of $550.22 million, a price-to-earnings ratio of -46.25, a price-to-earnings-growth ratio of 0.12 and a beta of 1.49. 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 business has a fifty day moving average of $5.17 and a 200 day moving average of $5.47. Gray Television has a 1 year low of $4.15 and a 1 year high of $10.07.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $826.00 million for the quarter, compared to analyst estimates of $840.33 million. Gray Television had a return on equity of 3.02% and a net margin of 1.84%. Gray Television’s revenue for the quarter was up 1.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.10) earnings per share. As a group, research analysts expect that Gray Television will post 4.37 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Friday, September 13th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.77%. The ex-dividend date was Friday, September 13th. Gray Television’s dividend payout ratio (DPR) is presently -266.67%.

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.