Gray Television (GTN) Cut to “Hold” at ValuEngine

Gray Television (NYSE:GTN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Sunday, October 28th.

Several other equities analysts have also issued reports on GTN. Zacks Investment Research lowered Gray Television from a “buy” rating to a “hold” rating in a research note on Saturday, July 7th. Barrington Research reiterated an “outperform” rating on shares of Gray Television in a research note on Monday, July 16th. Finally, Noble Financial set a $23.00 price target on Gray Television and gave the company a “buy” rating in a research note on Wednesday, August 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $22.25.

Gray Television stock traded up $0.58 during mid-day trading on Friday, reaching $17.88. 529,452 shares of the company were exchanged, compared to its average volume of 1,050,244. Gray Television has a 12 month low of $10.70 and a 12 month high of $20.24. The company has a debt-to-equity ratio of 1.64, a current ratio of 6.32 and a quick ratio of 6.32. The firm has a market cap of $1.54 billion, a PE ratio of 15.28, a price-to-earnings-growth ratio of 0.79 and a beta of 2.23.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 EPS for the quarter, topping the Zacks’ consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The firm had revenue of $279.00 million for the quarter, compared to analyst estimates of $276.52 million. During the same quarter last year, the company earned $0.21 EPS. The company’s revenue was up 27.4% on a year-over-year basis. Sell-side analysts expect that Gray Television will post 2.18 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTN. Northern Trust Corp lifted its holdings in Gray Television by 15.1% during the 1st quarter. Northern Trust Corp now owns 1,043,419 shares of the company’s stock worth $13,251,000 after buying an additional 136,543 shares during the period. BlackRock Inc. lifted its holdings in Gray Television by 15.2% during the 1st quarter. BlackRock Inc. now owns 5,226,987 shares of the company’s stock worth $66,382,000 after buying an additional 691,079 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in Gray Television by 34.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 18,995 shares of the company’s stock worth $241,000 after buying an additional 4,823 shares during the period. Russell Investments Group Ltd. raised its position in shares of Gray Television by 3.2% in the 1st quarter. Russell Investments Group Ltd. now owns 171,183 shares of the company’s stock worth $2,174,000 after acquiring an additional 5,373 shares in the last quarter. Finally, UBS Group AG raised its position in shares of Gray Television by 1,342.0% in the 1st quarter. UBS Group AG now owns 37,909 shares of the company’s stock worth $481,000 after acquiring an additional 35,280 shares in the last quarter. 86.53% of the stock is currently owned by institutional investors.

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 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 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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