Noble Financial Weighs in on Gray Television, Inc.’s Q4 2024 Earnings (NYSE:GTN)

Gray Television, Inc. (NYSE:GTN) – Noble Financial boosted their Q4 2024 earnings per share (EPS) estimates for Gray Television in a note issued to investors on Wednesday, May 8th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of $3.05 per share for the quarter, up from their prior forecast of $2.77. The consensus estimate for Gray Television’s current full-year earnings is $4.21 per share.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.54 by $0.25. The business had revenue of $823.00 million during the quarter, compared to analysts’ expectations of $824.98 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.48) EPS.

A number of other equities analysts have also recently issued reports on the company. Barrington Research reaffirmed a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Wells Fargo & Company upped their price objective on Gray Television from $5.50 to $6.00 and gave the company an “underweight” rating in a research note on Wednesday. Finally, Benchmark lifted their target price on shares of Gray Television from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $11.40.

Gray Television Stock Up 0.6 %

Shares of NYSE:GTN opened at $6.74 on Thursday. Gray Television has a 52-week low of $5.44 and a 52-week high of $10.69. The company has a market capitalization of $655.15 million, a PE ratio of -4.85, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.18 and a current ratio of 1.18. The company has a fifty day moving average of $5.94 and a 200-day moving average of $7.39.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 4.75%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television’s dividend payout ratio is currently -23.02%.

Insider Transactions at Gray Television

In other Gray Television news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 28th. The shares were bought at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the transaction, the chief executive officer now directly owns 2,982,386 shares in the company, valued at $24,127,502.74. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 13.83% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gray Television

A number of large investors have recently bought and sold shares of the stock. CWM LLC raised its holdings in Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company’s stock worth $27,000 after buying an additional 1,149 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in shares of Gray Television in the first quarter worth approximately $25,000. DekaBank Deutsche Girozentrale bought a new position in shares of Gray Television in the third quarter valued at approximately $41,000. Sonora Investment Management Group LLC purchased a new position in shares of Gray Television during the third quarter valued at approximately $73,000. Finally, Entropy Technologies LP bought a new stake in Gray Television during the first quarter worth $73,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

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.