Gray Television (GTN) Scheduled to Post Earnings on Tuesday

Gray Television (NYSE:GTN) is set to announce its earnings results before the market opens on Tuesday, May 7th. Analysts expect the company to announce earnings of $0.11 per share for the quarter. Gray Television has set its Q1 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The company had revenue of $864.00 million for the quarter, compared to analyst estimates of $863.31 million. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. Gray Television’s revenue was down 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.88 EPS. On average, analysts expect Gray Television to post $4 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gray Television Stock Performance

GTN opened at $6.48 on Monday. The business has a 50 day moving average price of $5.88 and a two-hundred day moving average price of $7.39. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. The company has a market capitalization of $629.86 million, a price-to-earnings ratio of -4.66, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. Gray Television has a 1-year low of $5.44 and a 1-year high of $10.69.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.94%. Gray Television’s dividend payout ratio (DPR) is -23.02%.

Insider Activity at Gray Television

In related news, CEO Hilton H. Howell, Jr. purchased 10,000 shares of the company’s stock in a transaction that occurred on Thursday, March 28th. The shares were purchased at an average price of $8.09 per share, with a total value of $80,900.00. Following the purchase, the chief executive officer now owns 2,982,386 shares of the company’s stock, valued at approximately $24,127,502.74. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GTN. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Wells Fargo & Company boosted their target price on shares of Gray Television from $6.00 to $7.00 and gave the stock an “underweight” rating in a report on Friday, February 9th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $12.80.

Gray Television Company Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.