Equities research analysts expect Gray Television, Inc. (NYSE:GTN) to announce earnings per share (EPS) of $0.28 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gray Television’s earnings. The lowest EPS estimate is $0.26 and the highest is $0.30. Gray Television reported earnings of $0.46 per share during the same quarter last year, which indicates a negative year over year growth rate of 39.1%. The business is scheduled to issue its next earnings report on Tuesday, August 6th.
According to Zacks, analysts expect that Gray Television will report full-year earnings of $1.07 per share for the current fiscal year, with EPS estimates ranging from $0.57 to $1.88. For the next year, analysts expect that the company will post earnings of $3.43 per share, with EPS estimates ranging from $2.80 to $4.07. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Gray Television.
Gray Television (NYSE:GTN) last issued its earnings results on Wednesday, May 8th. The company reported ($0.31) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.13. The company had revenue of $518.00 million during the quarter, compared to analyst estimates of $498.41 million. Gray Television had a return on equity of 20.34% and a net margin of 12.56%. The business’s revenue was up 129.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.22 EPS.
A number of research analysts recently issued reports on GTN shares. Barrington Research restated a “buy” rating and set a $23.00 price objective on shares of Gray Television in a research report on Thursday, February 28th. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. ValuEngine raised Gray Television from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Stephens reaffirmed an “overweight” rating and set a $27.00 price objective on shares of Gray Television in a research note on Friday, March 1st. Finally, Noble Financial reaffirmed a “buy” rating and set a $23.00 price objective on shares of Gray Television in a research note on Friday, March 1st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $25.43.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Retirement Systems of Alabama bought a new stake in shares of Gray Television during the first quarter worth $152,227,000. BlackRock Inc. grew its position in shares of Gray Television by 14.2% during the fourth quarter. BlackRock Inc. now owns 6,108,456 shares of the company’s stock worth $90,040,000 after buying an additional 758,058 shares in the last quarter. FMR LLC grew its position in shares of Gray Television by 135.5% during the fourth quarter. FMR LLC now owns 5,862,909 shares of the company’s stock worth $86,420,000 after buying an additional 3,373,876 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of Gray Television by 1.2% during the third quarter. Neuberger Berman Group LLC now owns 4,931,433 shares of the company’s stock worth $86,300,000 after buying an additional 58,415 shares in the last quarter. Finally, Vanguard Group Inc grew its position in shares of Gray Television by 1.5% during the third quarter. Vanguard Group Inc now owns 3,593,080 shares of the company’s stock worth $62,879,000 after buying an additional 52,313 shares in the last quarter. 83.03% of the stock is currently owned by hedge funds and other institutional investors.
Shares of GTN traded down $0.44 during mid-day trading on Thursday, hitting $18.06. The stock had a trading volume of 33,494 shares, compared to its average volume of 1,078,717. Gray Television has a fifty-two week low of $10.70 and a fifty-two week high of $25.31. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 7.38, a PEG ratio of 1.76 and a beta of 2.03. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.05.
Gray Television Company Profile
Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.
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