Gray Television, Inc. (NYSE:GTN) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have received a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $11.40.

GTN has been the topic of a number of recent research reports. Benchmark raised their target price on Gray Television from $11.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, May 8th. Wells Fargo & Company raised their target price on Gray Television from $5.50 to $6.00 and gave the company an “underweight” rating in a report on Wednesday, May 8th. Finally, Loop Capital upgraded Gray Television to a “strong-buy” rating in a report on Wednesday, May 8th.

Institutional Trading of Gray Television

Large investors have recently bought and sold shares of the company. CWM LLC increased its position in Gray Television by 61.5% in 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 Gray Television in the first quarter worth $25,000. Entropy Technologies LP purchased a new stake in Gray Television in the first quarter worth $73,000. Innealta Capital LLC purchased a new stake in Gray Television in the first quarter worth $74,000. Finally, SG Americas Securities LLC purchased a new stake in Gray Television in the fourth quarter worth $109,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Gray Television Stock Up 2.6 %

Shares of NYSE:GTN opened at $5.12 on Friday. Gray Television has a 52-week low of $4.39 and a 52-week high of $10.69. The company has a debt-to-equity ratio of 2.99, a quick ratio of 1.42 and a current ratio of 1.42. The business’s 50 day simple moving average is $5.66 and its two-hundred day simple moving average is $6.72. The firm has a market cap of $507.60 million, a P/E ratio of -42.67, a PEG ratio of 0.09 and a beta of 1.52.

Gray Television (NYSE:GTN) last posted its earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.25. Gray Television had a return on equity of 2.13% and a net margin of 1.30%. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. During the same quarter last year, the company earned ($0.48) earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. As a group, research analysts forecast that Gray Television will post 5.15 EPS for the current fiscal year.

Gray Television Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 6.25%. The ex-dividend date of this dividend was Friday, June 14th. Gray Television’s dividend payout ratio is currently -266.67%.

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.