Shares of Gray Television, Inc. (NYSE:GTN) gapped down before the market opened on Thursday . The stock had previously closed at $19.32, but opened at $20.16. Gray Television shares last traded at $20.15, with a volume of 42909 shares.
Several analysts recently weighed in on GTN shares. Barrington Research reissued a “buy” rating and set a $23.00 price target on shares of Gray Television in a report on Thursday, February 28th. Zacks Investment Research cut Gray Television from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. ValuEngine raised Gray Television from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Stephens reissued an “overweight” rating and set a $27.00 price target on shares of Gray Television in a report on Friday, March 1st. Finally, Noble Financial reissued a “buy” rating and set a $23.00 price target on shares of Gray Television in a report on Friday, March 1st. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $25.43.
The company has a quick ratio of 5.80, a current ratio of 5.80 and a debt-to-equity ratio of 2.15. The company has a market capitalization of $2.03 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 1.37 and a beta of 2.03.
Gray Television (NYSE:GTN) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.31) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.44) by $0.13. Gray Television had a return on equity of 21.36% and a net margin of 12.56%. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $498.41 million. During the same quarter last year, the company earned $0.22 EPS. The company’s revenue was up 129.2% on a year-over-year basis. As a group, equities analysts forecast that Gray Television, Inc. will post 1.47 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of the business. Hillcrest Asset Management LLC increased its stake in shares of Gray Television by 35.7% in the 1st quarter. Hillcrest Asset Management LLC now owns 737,694 shares of the company’s stock valued at $15,757,000 after purchasing an additional 194,255 shares during the last quarter. Swiss National Bank increased its stake in shares of Gray Television by 3.1% in the 1st quarter. Swiss National Bank now owns 149,500 shares of the company’s stock valued at $3,193,000 after purchasing an additional 4,500 shares during the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of Gray Television by 47.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 14,179 shares of the company’s stock valued at $243,000 after purchasing an additional 4,591 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Gray Television by 20.2% in the 1st quarter. Wells Fargo & Company MN now owns 334,020 shares of the company’s stock valued at $7,134,000 after purchasing an additional 56,036 shares during the last quarter. Finally, CIBC World Markets Inc. bought a new position in shares of Gray Television in the 1st quarter valued at $411,000. Hedge funds and other institutional investors own 83.42% of the company’s stock.
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About Gray Television (NYSE:GTN)
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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