Gray Television, Inc. (NYSE:GTN) Receives Consensus Rating of “Buy” from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have been assigned an average recommendation of “Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $23.25.

Several research firms have issued reports on GTN. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “strong-buy” rating and set a $22.00 price target on the stock in a research report on Thursday, November 14th. Stephens set a $27.00 price objective on shares of Gray Television and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Co assumed coverage on shares of Gray Television in a research note on Monday, September 23rd. They issued an “outperform” rating and a $21.00 price objective for the company. TheStreet raised shares of Gray Television from a “c+” rating to a “b-” rating in a research note on Wednesday, September 11th. Finally, ValuEngine raised shares of Gray Television from a “sell” rating to a “hold” rating in a research note on Thursday, October 17th.

Institutional investors have recently bought and sold shares of the stock. Hussman Strategic Advisors Inc. boosted its stake in Gray Television by 188.5% in the 2nd quarter. Hussman Strategic Advisors Inc. now owns 225,000 shares of the company’s stock worth $3,688,000 after purchasing an additional 147,000 shares during the period. APG Asset Management N.V. boosted its stake in Gray Television by 337.2% in the 2nd quarter. APG Asset Management N.V. now owns 647,900 shares of the company’s stock worth $9,325,000 after purchasing an additional 499,700 shares during the period. Brightline Capital Management LLC boosted its stake in Gray Television by 6.4% in the 2nd quarter. Brightline Capital Management LLC now owns 580,000 shares of the company’s stock worth $9,506,000 after purchasing an additional 35,000 shares during the period. Bowling Portfolio Management LLC boosted its stake in Gray Television by 13.8% in the 3rd quarter. Bowling Portfolio Management LLC now owns 82,429 shares of the company’s stock worth $1,345,000 after purchasing an additional 9,973 shares during the period. Finally, Allianz Asset Management GmbH boosted its stake in Gray Television by 32.8% in the 2nd quarter. Allianz Asset Management GmbH now owns 1,042,769 shares of the company’s stock worth $17,091,000 after purchasing an additional 257,600 shares during the period. 86.37% of the stock is owned by hedge funds and other institutional investors.

Gray Television stock opened at $19.59 on Friday. The company has a debt-to-equity ratio of 2.80, a quick ratio of 2.70 and a current ratio of 2.70. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 2.43 and a beta of 2.05. Gray Television has a 1 year low of $13.60 and a 1 year high of $25.31. The firm’s 50 day moving average price is $17.06 and its two-hundred day moving average price is $16.99.

Gray Television (NYSE:GTN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.21. The firm had revenue of $517.00 million for the quarter, compared to analyst estimates of $513.80 million. Gray Television had a net margin of 8.56% and a return on equity of 16.93%. The firm’s quarterly revenue was up 85.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.70 earnings per share. As a group, equities analysts predict that Gray Television will post 0.79 EPS for the current fiscal year.

Gray Television Company Profile

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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Analyst Recommendations for Gray Television (NYSE:GTN)

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