Brokerages Set Gray Television, Inc. (NYSE:GTN) Target Price at $6.67

Gray Television, Inc. (NYSE:GTN) has received an average recommendation of “Moderate Buy” from the five analysts that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $6.67.

A number of research analysts have recently commented on GTN shares. Benchmark lowered their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Wells Fargo & Company lowered their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research note on Friday, August 9th. Barrington Research upgraded shares of Gray Television to a “hold” rating in a report on Thursday, November 14th. StockNews.com raised Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Guggenheim decreased their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th.

Gray Television Trading Down 3.3 %

NYSE:GTN opened at $4.21 on Thursday. Gray Television has a 12-month low of $3.95 and a 12-month high of $10.07. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day simple moving average of $5.26 and a 200 day simple moving average of $5.37. The firm has a market capitalization of $419.11 million, a P/E ratio of 2.80, a P/E/G ratio of 0.17 and a beta of 1.47.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.57) earnings per share. Equities research analysts predict that Gray Television will post 2.7 EPS for the current year.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.61%. The ex-dividend date of this dividend is Friday, December 13th. Gray Television’s dividend payout ratio is presently 21.33%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GTN. Allspring Global Investments Holdings LLC acquired a new stake in shares of Gray Television during the 1st quarter valued at $25,000. nVerses Capital LLC acquired a new stake in shares of Gray Television during the second quarter worth $27,000. CWM LLC lifted its holdings in shares of Gray Television by 733.1% during the second quarter. CWM LLC now owns 7,448 shares of the company’s stock valued at $39,000 after purchasing an additional 6,554 shares during the last quarter. Creative Planning acquired a new position in shares of Gray Television in the 3rd quarter valued at $56,000. Finally, HBK Sorce Advisory LLC purchased a new position in Gray Television in the 2nd quarter worth about $58,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

About Gray Television

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.