Shares of Gray Television, Inc. (NYSE:GTN – Get Free Report) have received a consensus rating of “Moderate Buy” from the six analysts that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $11.40.
A number of equities analysts have commented on GTN shares. Benchmark lifted their price target on Gray Television from $11.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, May 8th. Wells Fargo & Company lifted their target price on shares of Gray Television from $5.50 to $6.00 and gave the stock an “underweight” rating in a research note on Wednesday, May 8th. Finally, Loop Capital raised shares of Gray Television to a “strong-buy” rating in a research report on Wednesday, May 8th.
Check Out Our Latest Research Report on GTN
Gray Television Price Performance
Gray Television (NYSE:GTN – Get Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.25. Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The business had revenue of $823.00 million during the quarter, compared to analyst estimates of $824.98 million. During the same period in the prior year, the business posted ($0.48) earnings per share. The company’s revenue was up 2.7% on a year-over-year basis. Equities research analysts expect that Gray Television will post 5.15 EPS for the current year.
Gray Television Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.79%. The ex-dividend date was Friday, June 14th. Gray Television’s dividend payout ratio (DPR) is currently -266.67%.
Institutional Investors Weigh In On Gray Television
Several institutional investors and hedge funds have recently modified their holdings of GTN. Diversified Trust Co raised its stake in Gray Television by 13.7% in the second quarter. Diversified Trust Co now owns 25,633 shares of the company’s stock worth $133,000 after buying an additional 3,097 shares in the last quarter. Linden Thomas Advisory Services LLC grew its holdings in shares of Gray Television by 10.2% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 79,433 shares of the company’s stock worth $413,000 after acquiring an additional 7,358 shares during the period. CWM LLC grew its holdings in shares of Gray Television by 733.1% during the 2nd quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after acquiring an additional 6,554 shares during the period. Virtu Financial LLC purchased a new position in shares of Gray Television in the 1st quarter valued at approximately $243,000. Finally, Innealta Capital LLC bought a new stake in shares of Gray Television during the first quarter valued at approximately $74,000. 78.64% of the stock is owned by hedge funds and other institutional investors.
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.
See Also
- Five stocks we like better than Gray Television
- How Can Investors Benefit From After-Hours Trading
- Tech Leader’s Stock Split: Is It the Right Time to Buy?
- Manufacturing Stocks Investing
- Could the Economy be Bottoming? Major Bank’s Earnings Say Yes
- Insider Buying Explained: What Investors Need to Know
- Seize This Prime Stock Opportunity on Amazon Prime Days
Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.