Gray Television, Inc. (NYSE:GTN) Receives $12.80 Average PT from Analysts

Gray Television, Inc. (NYSE:GTN) has been given a consensus rating of “Hold” by the five analysts that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $12.80.

Several research analysts recently weighed in on the company. Barrington Research reaffirmed a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Wells Fargo & Company increased their target price on Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th.

Insider Buying and Selling

In other Gray Television news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The shares were bought 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 owns 2,982,386 shares in the company, valued at approximately $24,127,502.74. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. CWM LLC increased its holdings in shares of Gray Television by 61.5% in the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock valued at $27,000 after purchasing an additional 1,149 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Gray Television in the 1st quarter valued at $25,000. DekaBank Deutsche Girozentrale acquired a new position in shares of Gray Television during the 3rd quarter worth about $41,000. Sonora Investment Management Group LLC acquired a new position in shares of Gray Television during the 3rd quarter worth about $73,000. Finally, Oak Thistle LLC acquired a new position in Gray Television in the 3rd quarter valued at about $74,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Down 2.0 %

Shares of NYSE GTN opened at $5.75 on Friday. The business has a 50-day moving average price of $5.99 and a 200 day moving average price of $7.40. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. The stock has a market cap of $558.90 million, a PE ratio of -4.14, a price-to-earnings-growth ratio of 0.15 and a beta of 1.57. Gray Television has a 52-week low of $5.44 and a 52-week high of $10.69.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share (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 for the quarter, compared to analyst estimates of $863.31 million. During the same quarter last year, the business earned $1.88 EPS. Gray Television’s revenue for the quarter was down 19.4% compared to the same quarter last year. Equities research analysts forecast that Gray Television will post 3.78 earnings per share for the current year.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 5.57%. The ex-dividend date was Thursday, March 14th. Gray Television’s payout ratio is -23.02%.

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.