Gray Television, Inc. (NYSE:GTN) Receives $6.67 Consensus Target Price from Brokerages

Gray Television, Inc. (NYSE:GTN) has been assigned a consensus recommendation of “Moderate Buy” from the five analysts that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $6.67.

Several brokerages have weighed in on GTN. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Benchmark dropped their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a report on Monday, November 11th. Barrington Research upgraded Gray Television to a “hold” rating in a research note on Thursday, November 14th. Finally, Guggenheim lowered their price objective 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.

Insider Buying and Selling

In related news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $4.37, for a total value of $656,443.92. Following the sale, the executive vice president now owns 509,212 shares in the company, valued at approximately $2,225,256.44. The trade was a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.80% of the stock is owned by company insiders.

Hedge Funds Weigh In On Gray Television

A number of institutional investors and hedge funds have recently made changes to their positions in GTN. nVerses Capital LLC purchased a new position in Gray Television in the second quarter worth about $27,000. Creative Planning bought a new position in shares of Gray Television during the 3rd quarter valued at approximately $56,000. HBK Sorce Advisory LLC purchased a new stake in Gray Television during the 2nd quarter valued at $58,000. Wilmington Savings Fund Society FSB bought a new stake in Gray Television in the third quarter worth $59,000. Finally, Choreo LLC purchased a new position in Gray Television during the second quarter worth $60,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Gray Television Price Performance

Shares of NYSE:GTN opened at $3.53 on Friday. The firm’s 50 day moving average price is $4.05 and its 200-day moving average price is $4.83. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The stock has a market capitalization of $351.82 million, a PE ratio of 2.35, a price-to-earnings-growth ratio of 0.13 and a beta of 1.39. Gray Television has a twelve month low of $2.91 and a twelve month high of $10.07.

Gray Television (NYSE:GTN) last released its earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. 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 firm posted ($0.57) earnings per share. Gray Television’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts expect that Gray Television will post 3.06 EPS for the current year.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th were given a dividend of $0.08 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 9.07%. Gray Television’s payout ratio is 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.