Q2 2024 Earnings Forecast for Gray Television, Inc. (NYSE:GTN) Issued By Barrington Research

Gray Television, Inc. (NYSE:GTN – Get Rating) – Equities researchers at Barrington Research lowered their Q2 2024 earnings estimates for shares of Gray Television in a report issued on Tuesday, May 9th. Barrington Research analyst J. Goss now forecasts that the company will post earnings per share of $0.14 for the quarter, down from their previous forecast of $0.24. The consensus estimate for Gray Television’s current full-year earnings is ($0.03) per share. Barrington Research also issued estimates for Gray Television’s Q4 2024 earnings at $2.66 EPS and FY2024 earnings at $4.33 EPS.

Gray Television (NYSE:GTN – Get Rating) last issued its quarterly earnings data on Friday, May 5th. The company reported ($0.48) earnings per share for the quarter, missing the consensus estimate of ($0.30) by ($0.18). The firm had revenue of $801.00 million during the quarter, compared to the consensus estimate of $788.22 million. Gray Television had a net margin of 9.92% and a return on equity of 18.45%. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.52 earnings per share.

GTN has been the topic of several other reports. StockNews.com initiated coverage on shares of Gray Television in a research report on Thursday, March 16th. They issued a “sell” rating on the stock. Guggenheim dropped their price target on shares of Gray Television from $16.00 to $15.00 in a research report on Tuesday. Finally, Benchmark boosted their price target on shares of Gray Television from $18.00 to $19.00 and gave the stock a “buy” rating in a research report on Monday, February 27th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $13.00.

Gray Television Trading Up 5.7 %

Shares of NYSE:GTN opened at $7.23 on Thursday. The company has a market cap of $671.14 million, a PE ratio of 2.16 and a beta of 1.55. The company’s 50-day moving average price is $8.45 and its 200 day moving average price is $10.65. Gray Television has a fifty-two week low of $6.50 and a fifty-two week high of $20.83. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 3.04.

Hedge Funds Weigh In On Gray Television

Hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC grew its stake in shares of Gray Television by 4,829.8% in the 4th quarter. Quadrant Capital Group LLC now owns 2,317 shares of the company’s stock worth $26,000 after purchasing an additional 2,270 shares during the last quarter. Captrust Financial Advisors grew its stake in shares of Gray Television by 219.5% in the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $26,000 after purchasing an additional 1,069 shares during the last quarter. Lindbrook Capital LLC grew its stake in shares of Gray Television by 21.7% in the 4th quarter. Lindbrook Capital LLC now owns 6,477 shares of the company’s stock worth $72,000 after purchasing an additional 1,156 shares during the last quarter. Point72 Hong Kong Ltd acquired a new position in shares of Gray Television in the 1st quarter worth approximately $73,000. Finally, Watershed Asset Management L.L.C. acquired a new position in shares of Gray Television in the 3rd quarter worth approximately $77,000. Institutional investors and hedge funds own 81.33% of the company’s stock.

Gray Television Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Thursday, June 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.43%. Gray Television’s dividend payout ratio is currently 9.58%.

Gray Television Company Profile

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Gray Television, Inc is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It operates through the following segments: Broadcasting, and Production Companies. The Broadcasting segment operates television stations located across local markets in the United States.