Analysts Set Gray Television, Inc. (NYSE:GTN) PT at $6.67

Gray Television, Inc. (NYSE:GTN) has been assigned a consensus recommendation of “Moderate Buy” from the five brokerages that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, one has assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $6.67.

A number of research firms have commented on GTN. Barrington Research upgraded shares of Gray Television to a “hold” rating in a research report on Thursday. Benchmark cut their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Wells Fargo & Company cut their price objective on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Finally, Guggenheim lowered their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

Hedge Funds Weigh In On Gray Television

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC purchased a new stake in Gray Television during the first quarter valued at about $25,000. nVerses Capital LLC purchased a new stake in shares of Gray Television in the 2nd quarter valued at approximately $27,000. CWM LLC lifted its position in shares of Gray Television by 733.1% in the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock valued at $39,000 after acquiring an additional 6,554 shares in the last quarter. Creative Planning acquired a new position in Gray Television in the 3rd quarter worth approximately $56,000. Finally, HBK Sorce Advisory LLC purchased a new position in Gray Television during the 2nd quarter worth approximately $58,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Television Stock Down 2.1 %

GTN opened at $4.69 on Thursday. The stock’s 50 day moving average price is $5.27 and its 200 day moving average price is $5.42. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.63. The stock has a market cap of $467.45 million, a P/E ratio of 3.13, a P/E/G ratio of 0.12 and a beta of 1.47. Gray Television has a 12 month low of $3.95 and a 12 month high of $10.07.

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

Gray Television Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued 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 is currently 21.33%.

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.