Gray Television (GTN) Scheduled to Post Quarterly Earnings on Tuesday

Gray Television (NYSE:GTN) is scheduled to release its earnings data before the market opens on Tuesday, May 7th. Analysts expect Gray Television to post earnings of $0.11 per share for the quarter. Gray Television has set its Q1 2024 guidance at EPS.Investors interested in registering for the company’s conference call can do so using this link.

Gray Television (NYSE:GTN) last released its earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.08). The firm had revenue of $864.00 million during the quarter, compared to the consensus estimate of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The company’s revenue was down 19.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 EPS. On average, analysts expect Gray Television to post $4 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gray Television Price Performance

NYSE GTN opened at $6.48 on Friday. The firm’s 50 day moving average is $5.88 and its 200-day moving average is $7.38. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. The company has a market capitalization of $629.88 million, a PE ratio of -4.66, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. Gray Television has a 12-month low of $5.44 and a 12-month high of $10.69.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is currently -23.02%.

Insider Activity

In other news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the company’s stock in a transaction dated Thursday, March 28th. The shares were bought at an average cost of $8.09 per share, with a total value of $80,900.00. Following the acquisition, the chief executive officer now owns 2,982,386 shares in the company, valued at $24,127,502.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.80% of the company’s stock.

Analyst Upgrades and Downgrades

GTN has been the topic of several analyst reports. Wells Fargo & Company boosted their price target on shares of Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a research report on Friday, February 9th. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a report on Tuesday, February 27th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $12.80.

About Gray Television

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.