Gray Television, Inc. (GTN) Raised to Strong-Buy at BidaskClub

BidaskClub upgraded shares of Gray Television, Inc. (NYSE:GTN) from a buy rating to a strong-buy rating in a research note published on Monday, July 31st.

GTN has been the topic of several other research reports. Benchmark Co. reiterated a buy rating and issued a $19.00 price target on shares of Gray Television in a report on Friday, May 5th. Royal Bank Of Canada reaffirmed a buy rating and set a $17.00 price objective on shares of Gray Television in a research note on Thursday, April 13th. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Gray Television currently has a consensus rating of Buy and a consensus price target of $17.00.

Shares of Gray Television (GTN) traded down 1.77% on Monday, hitting $13.85. 1,232,409 shares of the stock traded hands. Gray Television has a 52 week low of $7.00 and a 52 week high of $15.45. The stock has a market cap of $992.14 million, a price-to-earnings ratio of 8.61 and a beta of 3.28. The stock has a 50 day moving average price of $14.27 and a 200-day moving average price of $13.66.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The business had revenue of $226.70 million during the quarter, compared to analyst estimates of $221.05 million. During the same period in the prior year, the firm posted $0.24 earnings per share. The company’s quarterly revenue was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that Gray Television will post $1.61 EPS for the current year.

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Large investors have recently modified their holdings of the stock. Feltz Wealth PLAN Inc. bought a new position in Gray Television during the first quarter worth about $101,000. BNP Paribas Arbitrage SA raised its stake in Gray Television by 4,901.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after buying an additional 7,303 shares during the period. LSV Asset Management purchased a new stake in Gray Television during the second quarter valued at $153,000. Acrospire Investment Management LLC increased its stake in shares of Gray Television by 1,072.9% in the first quarter. Acrospire Investment Management LLC now owns 11,260 shares of the company’s stock valued at $163,000 after buying an additional 10,300 shares in the last quarter. Finally, Clinton Group Inc. bought a new stake in shares of Gray Television during the first quarter valued at about $176,000. Institutional investors own 86.08% of the company’s stock.

Gray Television Company Profile

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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