Gray Media (NYSE:GTN) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Gray Media (NYSE:GTN) from a hold rating to a sell rating in a research report report published on Saturday morning.

Several other research firms have also weighed in on GTN. Benchmark increased their target price on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. Wells Fargo & Company lifted their price objective on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research note on Monday, November 10th. Finally, Zacks Research upgraded shares of Gray Media from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $7.25.

Gray Media Trading Up 0.6%

Shares of NYSE GTN opened at $4.54 on Friday. Gray Media has a fifty-two week low of $3.13 and a fifty-two week high of $6.30. The firm has a market capitalization of $462.98 million, a P/E ratio of 11.06 and a beta of 0.89. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.93 and a quick ratio of 0.93. The company’s 50 day simple moving average is $4.73 and its 200 day simple moving average is $5.05.

Gray Media (NYSE:GTN) last released its earnings results on Friday, November 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.17. The firm had revenue of $749.00 million during the quarter, compared to analyst estimates of $745.25 million. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The business’s quarterly revenue was down 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. On average, analysts predict that Gray Media will post 3.32 EPS for the current year.

Gray Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were given a $0.08 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.32 annualized dividend and a dividend yield of 7.1%. Gray Media’s payout ratio is currently 78.05%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC bought a new stake in shares of Gray Media during the first quarter worth $28,000. Merit Financial Group LLC acquired a new position in Gray Media in the 3rd quarter worth $59,000. M&T Bank Corp bought a new position in Gray Media during the 4th quarter worth about $51,000. Wealth Alliance LLC acquired a new stake in shares of Gray Media in the 3rd quarter valued at about $63,000. Finally, Man Group plc bought a new stake in shares of Gray Media in the third quarter valued at about $71,000. Institutional investors own 78.64% of the company’s stock.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.