Gray Television (NYSE:GTN) Upgraded at Barrington Research

Barrington Research upgraded shares of Gray Television (NYSE:GTN) to a hold rating in a research report report published on Thursday,Zacks.com reports.

A number of other equities research analysts have also issued reports on the stock. Wells Fargo & Company cut their price target 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. Guggenheim dropped their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Benchmark lowered their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Gray Television Trading Down 2.1 %

Shares of GTN stock traded down $0.10 during mid-day trading on Thursday, reaching $4.69. The company’s stock had a trading volume of 1,173,107 shares, compared to its average volume of 1,276,759. Gray Television has a 12-month low of $3.95 and a 12-month high of $10.07. The company’s 50 day simple moving average is $5.27 and its 200-day simple moving average is $5.42. The company has a quick ratio of 1.63, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The firm has a market capitalization of $467.45 million, a PE ratio of 3.13, a price-to-earnings-growth ratio of 0.12 and a beta of 1.47.

Gray Television (NYSE:GTN) last issued its earnings results on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing the consensus estimate of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analyst estimates of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television’s revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.57) EPS. On average, research analysts predict that Gray Television will post 3.54 EPS for the current fiscal year.

Gray Television Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 6.82%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s dividend payout ratio is presently 21.33%.

Institutional Investors Weigh In On Gray Television

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Gray Television by 9.8% during 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 during the period. Capital Management Corp VA lifted its position in Gray Television by 27.6% during the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after acquiring an additional 1,170,990 shares during the period. State Street Corp grew its holdings in Gray Television by 1.9% in the third quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after purchasing an additional 36,541 shares during the period. Geode Capital Management LLC increased its stake in Gray Television by 3.0% during the 3rd quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company’s stock valued at $10,568,000 after purchasing an additional 57,481 shares in the last quarter. Finally, Tributary Capital Management LLC increased its holdings in Gray Television by 0.8% in the 2nd 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. 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.