ValuEngine Lowers Gray Television (GTN) to Buy

ValuEngine lowered shares of Gray Television (NYSE:GTN) from a strong-buy rating to a buy rating in a research report sent to investors on Thursday.

A number of other brokerages have also issued reports on GTN. Royal Bank Of Canada boosted their target price on Gray Television from $16.00 to $17.00 and gave the stock an outperform rating in a research report on Wednesday, August 9th. Guggenheim initiated coverage on Gray Television in a research report on Wednesday, October 18th. They set a buy rating and a $20.00 target price on the stock. Zacks Investment Research raised Gray Television from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Wednesday, November 8th. Benchmark reissued a buy rating and set a $21.00 price target on shares of Gray Television in a research report on Tuesday, November 7th. Finally, BidaskClub lowered Gray Television from a strong-buy rating to a buy rating in a research report on Sunday, August 6th. One research analyst has rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company presently has an average rating of Buy and a consensus price target of $18.50.

Shares of Gray Television (NYSE:GTN) traded up $0.10 during trading on Thursday, hitting $14.50. The stock had a trading volume of 3,304,769 shares, compared to its average volume of 1,480,028. The firm has a market capitalization of $1,052.71, a price-to-earnings ratio of 12.72, a PEG ratio of 1.38 and a beta of 3.15. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. Gray Television has a 12 month low of $9.95 and a 12 month high of $16.70.

Gray Television (NYSE:GTN) last announced its earnings results on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The company had revenue of $219.00 million for the quarter, compared to analyst estimates of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $0.26 earnings per share. equities analysts anticipate that Gray Television will post 1.61 earnings per share for the current fiscal year.

A number of large investors have recently bought and sold shares of the stock. GSA Capital Partners LLP raised its position in Gray Television by 100.2% during the third quarter. GSA Capital Partners LLP now owns 157,082 shares of the company’s stock valued at $2,466,000 after buying an additional 78,629 shares during the period. Delphi Management Inc. MA acquired a new position in Gray Television during the third quarter valued at $550,000. Dana Investment Advisors Inc. acquired a new position in Gray Television during the third quarter valued at $2,276,000. California Public Employees Retirement System raised its position in Gray Television by 2.2% during the third quarter. California Public Employees Retirement System now owns 153,139 shares of the company’s stock valued at $2,404,000 after buying an additional 3,339 shares during the period. Finally, Granahan Investment Management Inc. MA acquired a new position in Gray Television during the third quarter valued at $427,000. 83.41% of the stock is currently owned by hedge funds and other institutional investors.

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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).

To view ValuEngine’s full report, visit ValuEngine’s official website.

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