Brokerages Set Gray Television, Inc. (NYSE:GTN) Price Target at $6.67

Shares of Gray Television, Inc. (NYSE:GTN) have been given a consensus rating of “Moderate Buy” by the five research firms that are presently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $6.67.

GTN has been the topic of a number of recent analyst reports. Barrington Research upgraded shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. Benchmark lowered their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. Wells Fargo & Company reduced their price target on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Guggenheim reduced their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th.

Gray Television Stock Down 5.1 %

Gray Television stock opened at $4.45 on Thursday. The company has a quick ratio of 1.63, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The firm has a market cap of $443.52 million, a P/E ratio of 2.97, a P/E/G ratio of 0.13 and a beta of 1.47. The business has a fifty day moving average of $5.27 and a two-hundred day moving average of $5.40. Gray Television has a twelve month low of $3.95 and a twelve month high of $10.07.

Gray Television (NYSE:GTN) last issued its quarterly earnings data 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). Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The company had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the company earned ($0.57) earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. On average, analysts forecast that Gray Television will post 2.7 earnings per share 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 dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 7.19%. Gray Television’s payout ratio is currently 21.33%.

Hedge Funds Weigh In On Gray Television

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gray Television by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock valued at $1,283,000 after purchasing an additional 2,654 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Gray Television by 3.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 91,405 shares of the company’s stock worth $578,000 after buying an additional 3,068 shares during the period. Diversified Trust Co increased its holdings in Gray Television by 13.7% in the 2nd quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock worth $133,000 after buying an additional 3,097 shares during the period. Rhumbline Advisers raised its position in Gray Television by 2.6% during the 2nd quarter. Rhumbline Advisers now owns 139,642 shares of the company’s stock worth $726,000 after buying an additional 3,544 shares during the last quarter. Finally, Dakota Wealth Management lifted its stake in Gray Television by 34.5% during the 2nd quarter. Dakota Wealth Management now owns 14,753 shares of the company’s stock valued at $77,000 after acquiring an additional 3,781 shares during the period. 78.64% of the stock is owned by institutional investors and hedge funds.

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.