Gray Television (NYSE:GTN) Given New $8.00 Price Target at Benchmark

Gray Television (NYSE:GTNFree Report) had its target price trimmed by Benchmark from $11.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the stock. Guggenheim decreased their price objective on shares of Gray Television from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Wednesday, August 14th. Wells Fargo & Company cut their price target on Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Gray Television currently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

View Our Latest Report on Gray Television

Gray Television Stock Up 8.9 %

Shares of GTN stock opened at $4.79 on Monday. Gray Television has a twelve month low of $3.95 and a twelve month high of $10.07. The stock has a market cap of $477.42 million, a P/E ratio of 3.19, a P/E/G ratio of 0.12 and a beta of 1.47. The stock has a 50 day moving average of $5.27 and a 200 day moving average of $5.43. The company has a current ratio of 1.13, a quick ratio of 1.63 and a debt-to-equity ratio of 2.76.

Gray Television (NYSE:GTNGet Free Report) last posted 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 firm had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. During the same period last year, the firm earned ($0.57) earnings per share. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, sell-side analysts expect that Gray Television will post 3.54 EPS for the current year.

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 6.68%. The ex-dividend date is Friday, December 13th. Gray Television’s payout ratio is 21.33%.

Institutional Investors Weigh In On Gray Television

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Gray Television by 9.8% in the 1st quarter. Vanguard Group Inc. now owns 5,662,398 shares of the company’s stock valued at $35,786,000 after purchasing an additional 506,106 shares in the last quarter. Capital Management Corp VA raised its position in shares of Gray Television by 27.6% in the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after buying an additional 1,170,990 shares during the last quarter. Tributary Capital Management LLC lifted its stake in shares of Gray Television by 0.8% in the second quarter. Tributary Capital Management LLC now owns 1,334,714 shares of the company’s stock worth $6,941,000 after buying an additional 10,093 shares in the last quarter. Clearbridge Investments LLC boosted its position in Gray Television by 1.9% during the first quarter. Clearbridge Investments LLC now owns 1,307,308 shares of the company’s stock worth $8,262,000 after acquiring an additional 23,878 shares during the last quarter. Finally, AQR Capital Management LLC grew its stake in Gray Television by 4.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,055,389 shares of the company’s stock valued at $5,488,000 after acquiring an additional 48,623 shares in the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Gray Television

(Get Free Report)

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.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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