Gray Television (GTN) Research Coverage Started at Wolfe Research

Wolfe Research initiated coverage on shares of Gray Television (NYSE:GTN) in a research note issued to investors on Friday, The Fly reports. The brokerage issued an outperform rating on the stock.

A number of other brokerages have also recently issued reports on GTN. Zacks Investment Research raised shares of Gray Television from a hold rating to a buy rating and set a $22.00 target price for the company in a research report on Friday, November 9th. Benchmark boosted their target price on shares of Gray Television from $28.00 to $29.00 and gave the company a buy rating in a research report on Wednesday, November 7th. ValuEngine cut shares of Gray Television from a buy rating to a hold rating in a research report on Sunday, October 28th. Finally, Noble Financial reissued a buy rating on shares of Gray Television in a research report on Wednesday, November 7th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $22.25.

Shares of Gray Television stock traded down $0.41 during trading on Friday, reaching $17.28. The company’s stock had a trading volume of 2,712,643 shares, compared to its average volume of 720,175. The stock has a market cap of $1.57 billion, a PE ratio of 14.77, a PEG ratio of 0.78 and a beta of 2.08. Gray Television has a 52 week low of $10.70 and a 52 week high of $20.24. The company has a debt-to-equity ratio of 1.64, a quick ratio of 6.32 and a current ratio of 6.32.

Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, November 6th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.61 by $0.09. The company had revenue of $279.00 million during the quarter, compared to analysts’ expectations of $276.52 million. Gray Television had a net margin of 29.12% and a return on equity of 14.95%. Gray Television’s quarterly revenue was up 27.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.21 earnings per share. Equities research analysts predict that Gray Television will post 2.27 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. lifted its position in Gray Television by 1,231.2% during the third quarter. Meeder Asset Management Inc. now owns 7,974 shares of the company’s stock worth $139,000 after purchasing an additional 7,375 shares during the period. PNC Financial Services Group Inc. lifted its position in Gray Television by 168.0% during the third quarter. PNC Financial Services Group Inc. now owns 8,841 shares of the company’s stock worth $155,000 after purchasing an additional 5,542 shares during the period. Aperio Group LLC bought a new stake in Gray Television during the second quarter worth about $177,000. Virtu Financial LLC bought a new stake in Gray Television during the third quarter worth about $180,000. Finally, Financial Counselors Inc. bought a new stake in Gray Television during the third quarter worth about $194,000. 86.51% of the stock is owned by institutional investors and hedge funds.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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