Gray Television (NYSE:GTN) Stock Rating Upgraded by Barrington Research

Barrington Research upgraded shares of Gray Television (NYSE:GTN) to a hold rating in a research report released on Thursday,Zacks.com reports.

A number of other research analysts also recently weighed in on the stock. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim dropped their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Benchmark cut their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Finally, Wells Fargo & Company lowered their target price on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.67.

Gray Television Stock Down 2.1 %

Gray Television stock opened at $4.69 on Thursday. Gray Television has a 12 month low of $3.95 and a 12 month high of $10.07. The stock has a fifty day simple moving average of $5.27 and a two-hundred day simple moving average of $5.42. The company has a current ratio of 1.13, a quick ratio of 1.63 and a debt-to-equity ratio of 2.76. The firm has a market cap of $467.45 million, a price-to-earnings ratio of 3.13, a PEG ratio of 0.12 and a beta of 1.47.

Gray Television (NYSE:GTN) last issued its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The business had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.57) EPS. Equities analysts predict that Gray Television will post 3.54 EPS for the current fiscal year.

Gray Television Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 6.82%. Gray Television’s dividend payout ratio (DPR) is 21.33%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC bought a new stake in shares of Gray Television during the 1st quarter valued at $25,000. BNP Paribas Financial Markets raised its holdings in Gray Television by 168.1% during the first quarter. BNP Paribas Financial Markets now owns 67,101 shares of the company’s stock valued at $424,000 after acquiring an additional 42,075 shares during the period. Russell Investments Group Ltd. lifted its position in shares of Gray Television by 3.2% in the first quarter. Russell Investments Group Ltd. now owns 212,937 shares of the company’s stock valued at $1,346,000 after acquiring an additional 6,652 shares in the last quarter. Entropy Technologies LP bought a new position in shares of Gray Television in the first quarter worth about $73,000. Finally, Mitsubishi UFJ Trust & Banking Corp grew its position in shares of Gray Television by 12.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 95,427 shares of the company’s stock worth $574,000 after purchasing an additional 10,234 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.

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.