Gray Television, Inc. (NYSE:GTN) Expected to Announce Earnings of $0.26 Per Share

Analysts forecast that Gray Television, Inc. (NYSE:GTN) will post earnings of $0.26 per share for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gray Television’s earnings, with estimates ranging from $0.25 to $0.26. Gray Television posted earnings per share of $0.70 during the same quarter last year, which would indicate a negative year over year growth rate of 62.9%. The business is scheduled to issue its next earnings report on Tuesday, November 5th.

According to Zacks, analysts expect that Gray Television will report full-year earnings of $0.91 per share for the current year, with EPS estimates ranging from $0.62 to $1.41. For the next fiscal year, analysts forecast that the firm will report earnings of $3.10 per share, with EPS estimates ranging from $2.70 to $3.32. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that that provide coverage for Gray Television.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.03. The company had revenue of $508.00 million during the quarter, compared to the consensus estimate of $508.79 million. Gray Television had a return on equity of 19.25% and a net margin of 10.78%. Gray Television’s revenue was up 103.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 earnings per share.



A number of equities research analysts have recently commented on GTN shares. Stephens set a $27.00 price objective on Gray Television and gave the company a “buy” rating in a research report on Wednesday, August 21st. ValuEngine raised Gray Television from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 21st. TheStreet downgraded Gray Television from a “b-” rating to a “c+” rating in a research report on Tuesday, June 4th. Finally, Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $24.80.

In other Gray Television news, Chairman Hilton H. Howell, Jr. acquired 1,800 shares of the stock in a transaction dated Friday, August 9th. The stock was acquired at an average price of $14.76 per share, with a total value of $26,568.00. Following the completion of the transaction, the chairman now directly owns 992,224 shares in the company, valued at $14,645,226.24. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Harriett J. Robinson acquired 7,500 shares of the stock in a transaction dated Monday, August 12th. The stock was acquired at an average cost of $14.87 per share, with a total value of $111,525.00. Following the transaction, the insider now owns 1,008,467 shares of the company’s stock, valued at $14,995,904.29. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 10,600 shares of company stock valued at $158,230. Company insiders own 10.14% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. GYL Financial Synergies LLC acquired a new position in Gray Television in the first quarter valued at $2,143,000. Hussman Strategic Advisors Inc. boosted its holdings in Gray Television by 188.5% in the second quarter. Hussman Strategic Advisors Inc. now owns 225,000 shares of the company’s stock valued at $3,688,000 after acquiring an additional 147,000 shares during the last quarter. Brightline Capital Management LLC boosted its holdings in Gray Television by 6.4% in the second quarter. Brightline Capital Management LLC now owns 580,000 shares of the company’s stock valued at $9,506,000 after acquiring an additional 35,000 shares during the last quarter. Marshall Wace North America L.P. boosted its holdings in Gray Television by 105.4% in the first quarter. Marshall Wace North America L.P. now owns 106,094 shares of the company’s stock valued at $2,266,000 after acquiring an additional 54,441 shares during the last quarter. Finally, ClariVest Asset Management LLC boosted its holdings in Gray Television by 65.9% in the first quarter. ClariVest Asset Management LLC now owns 536,107 shares of the company’s stock valued at $11,449,000 after acquiring an additional 212,986 shares during the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

Shares of NYSE:GTN traded down $0.42 during midday trading on Friday, reaching $17.19. The company’s stock had a trading volume of 995,900 shares, compared to its average volume of 986,953. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 7.07, a price-to-earnings-growth ratio of 1.71 and a beta of 2.13. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 2.89. Gray Television has a 1 year low of $13.60 and a 1 year high of $25.31. The business has a 50 day moving average price of $15.87 and a 200 day moving average price of $18.87.

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 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 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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