Gray Television (GTN) to Release Earnings on Tuesday

Gray Television (NYSE:GTN) will issue its quarterly earnings data before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.11 per share for the quarter. Gray Television has set its Q1 2024 guidance at EPS.Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The business had revenue of $864.00 million during the quarter, compared to analyst estimates of $863.31 million. During the same quarter last year, the firm posted $1.88 EPS. The company’s revenue was down 19.4% compared to the same quarter last year. On average, analysts expect Gray Television to post $4 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gray Television Price Performance

Shares of NYSE GTN opened at $5.87 on Tuesday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. Gray Television has a fifty-two week low of $5.44 and a fifty-two week high of $10.69. The business has a 50 day moving average price of $5.99 and a two-hundred day moving average price of $7.40. The firm has a market cap of $570.59 million, a PE ratio of -4.22, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.45%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is currently -23.02%.

Insider Buying and Selling

In other Gray Television news, CEO Hilton H. Howell, Jr. acquired 10,000 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was purchased at an average price of $8.09 per share, with a total value of $80,900.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on GTN shares. Barrington Research reaffirmed a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Gray Television presently has a consensus rating of “Hold” and a consensus price target of $12.80.

Gray Television Company Profile

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.