$321.75 Million in Sales Expected for Gray Television, Inc. (GTN) This Quarter

Analysts expect Gray Television, Inc. (NYSE:GTN) to announce $321.75 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Gray Television’s earnings, with estimates ranging from $321.10 million to $322.40 million. Gray Television reported sales of $233.61 million during the same quarter last year, which indicates a positive year over year growth rate of 37.7%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Thursday, February 28th.

According to Zacks, analysts expect that Gray Television will report full-year sales of $1.08 billion for the current financial year. For the next fiscal year, analysts forecast that the business will report sales of $973.25 million, with estimates ranging from $951.40 million to $995.10 million. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Gray Television.

GTN has been the topic of several research reports. Zacks Investment Research raised shares of Gray Television from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research report on Tuesday, January 8th. Noble Financial reissued a “buy” rating on shares of Gray Television in a research report on Wednesday, November 7th. Benchmark increased their price target on shares of Gray Television from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, November 7th. Wolfe Research initiated coverage on shares of Gray Television in a research report on Friday, December 7th. They set an “outperform” rating on the stock. Finally, ValuEngine cut shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Sunday, October 28th. Two equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $22.29.



Shares of GTN traded down $0.19 during mid-day trading on Friday, hitting $17.64. 636,800 shares of the company’s stock were exchanged, compared to its average volume of 702,015. The stock has a market capitalization of $1.57 billion, a PE ratio of 15.08, a P/E/G ratio of 1.39 and a beta of 1.91. Gray Television has a fifty-two week low of $10.70 and a fifty-two 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.

A number of large investors have recently modified their holdings of GTN. Clearbridge Investments LLC raised its holdings in Gray Television by 1,088.5% in the third quarter. Clearbridge Investments LLC now owns 2,680,717 shares of the company’s stock valued at $46,913,000 after acquiring an additional 2,455,169 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Gray Television by 142.3% in the second quarter. Bank of New York Mellon Corp now owns 3,018,985 shares of the company’s stock valued at $47,700,000 after acquiring an additional 1,773,153 shares in the last quarter. BlackRock Inc. raised its holdings in Gray Television by 14.2% in the fourth quarter. BlackRock Inc. now owns 6,108,456 shares of the company’s stock valued at $90,040,000 after acquiring an additional 758,058 shares in the last quarter. Millennium Management LLC raised its holdings in Gray Television by 63.8% in the fourth quarter. Millennium Management LLC now owns 1,267,080 shares of the company’s stock valued at $18,677,000 after acquiring an additional 493,675 shares in the last quarter. Finally, New Amsterdam Partners LLC NY increased its stake in Gray Television by 264.9% in the third quarter. New Amsterdam Partners LLC NY now owns 516,538 shares of the company’s stock valued at $9,039,000 after purchasing an additional 374,992 shares during the last quarter. 83.05% of the stock is currently owned by hedge funds and other institutional investors.

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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Earnings History and Estimates for Gray Television (NYSE:GTN)

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