Gray Television, Inc. (NYSE:GTN) Given Consensus Rating of “Moderate Buy” by Brokerages

Gray Television, Inc. (NYSE:GTN) has earned a consensus rating of “Moderate Buy” from the five research firms that are currently covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, one has issued a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $8.33.

A number of equities research analysts recently commented on GTN shares. Wells Fargo & Company dropped their price objective on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a report on Friday, August 9th. Benchmark reduced their price objective on Gray Television from $13.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Finally, Guggenheim cut their target price on Gray Television from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th.

Gray Television Stock Up 4.1 %

NYSE:GTN opened at $5.31 on Wednesday. Gray Television has a 1 year low of $4.15 and a 1 year high of $10.07. The stock has a 50-day moving average price of $5.14 and a two-hundred day moving average price of $5.53. The stock has a market cap of $526.42 million, a price-to-earnings ratio of -44.25, a PEG ratio of 0.10 and a beta of 1.49. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 2.98.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $826.00 million during the quarter, compared to analyst estimates of $840.33 million. Gray Television had a net margin of 1.84% and a return on equity of 3.02%. Gray Television’s revenue for the quarter was up 1.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.10) earnings per share. As a group, equities analysts expect that Gray Television will post 4.97 earnings per share for the current year.

Gray Television Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.03%. The ex-dividend date of this dividend is Friday, September 13th. Gray Television’s dividend payout ratio is currently -266.67%.

Institutional Trading of Gray Television

Several institutional investors and hedge funds have recently bought and sold shares of GTN. Allspring Global Investments Holdings LLC bought a new stake in shares of Gray Television during the 1st quarter worth approximately $25,000. nVerses Capital LLC acquired a new position in Gray Television during the second quarter worth $27,000. CWM LLC lifted its stake in Gray Television by 733.1% in the second quarter. CWM LLC now owns 7,448 shares of the company’s stock valued at $39,000 after acquiring an additional 6,554 shares during the last quarter. HBK Sorce Advisory LLC acquired a new stake in Gray Television in the second quarter valued at $58,000. Finally, Choreo LLC acquired a new position in shares of Gray Television during the 2nd quarter worth about $60,000. Institutional investors own 78.64% of the company’s stock.

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.