BidaskClub upgraded shares of Gray Television, Inc. (NYSE:GTN) from a buy rating to a strong-buy rating in a research report sent to investors on Monday, July 31st.
Other research analysts have also issued reports about the stock. Benchmark Co. restated a buy rating and issued a $19.00 price objective on shares of Gray Television in a research note on Monday, May 15th. Royal Bank Of Canada set a $16.00 price objective on shares of Gray Television and gave the company a buy rating in a research note on Tuesday, July 18th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus target price of $17.00.
Shares of Gray Television (NYSE:GTN) opened at 14.70 on Monday. The firm has a market capitalization of $1.05 billion, a P/E ratio of 9.14 and a beta of 3.28. The firm’s 50-day moving average price is $14.16 and its 200 day moving average price is $13.56. Gray Television has a 12 month low of $7.00 and a 12 month high of $15.45.
Gray Television (NYSE:GTN) last posted its quarterly earnings data on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.03. The company had revenue of $226.70 million for the quarter, compared to analyst estimates of $221.05 million. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. Gray Television’s quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.24 earnings per share. Analysts anticipate that Gray Television will post $0.92 earnings per share for the current fiscal year.
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Several hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Gray Television during the fourth quarter worth about $1,302,000. Skylands Capital LLC purchased a new position in shares of Gray Television during the second quarter worth about $521,000. Clinton Group Inc. purchased a new position in shares of Gray Television during the first quarter worth about $176,000. Airain ltd raised its position in shares of Gray Television by 226.6% in the first quarter. Airain ltd now owns 53,550 shares of the company’s stock worth $776,000 after buying an additional 37,155 shares during the period. Finally, American International Group Inc. raised its position in shares of Gray Television by 7.1% in the first quarter. American International Group Inc. now owns 39,493 shares of the company’s stock worth $573,000 after buying an additional 2,613 shares during the period. Institutional investors and hedge funds own 87.34% of the company’s stock.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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