Noble Financial Forecasts Gray Television FY2024 Earnings

Gray Television, Inc. (NYSE:GTN) – Research analysts at Noble Financial issued their FY2024 EPS estimates for Gray Television in a research report issued to clients and investors on Monday, November 11th. Noble Financial analyst M. Kupinski forecasts that the company will post earnings per share of $2.70 for the year. The consensus estimate for Gray Television’s current full-year earnings is $4.37 per share. Noble Financial also issued estimates for Gray Television’s Q4 2024 earnings at $0.96 EPS.

GTN has been the topic of a number of other research reports. Guggenheim dropped their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Tuesday. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday. Wells Fargo & Company reduced their target price on shares of Gray Television from $6.00 to $4.00 and set an “underweight” rating for the company in a report on Friday, August 9th. Finally, Benchmark lowered their price target on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Performance

GTN opened at $4.40 on Thursday. The company has a market capitalization of $438.04 million, a price-to-earnings ratio of 2.93, a P/E/G ratio of 0.10 and a beta of 1.47. The business’s 50-day moving average price is $5.26 and its two-hundred day moving average price is $5.43. Gray Television has a 1 year low of $3.95 and a 1 year 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 1.63.

Gray Television (NYSE:GTN) last released its quarterly earnings results 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 company had revenue of $950.00 million during the quarter, compared to analyst estimates of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.57) EPS.

Gray Television Announces Dividend

The company 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 $0.08 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 7.28%. Gray Television’s dividend payout ratio is presently 21.33%.

Institutional Trading of Gray Television

A number of large investors have recently added to or reduced their stakes in GTN. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Gray Television by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company’s stock worth $1,283,000 after acquiring an additional 2,654 shares during the period. BNP Paribas Financial Markets boosted its position in Gray Television by 109.3% during the third quarter. BNP Paribas Financial Markets now owns 127,497 shares of the company’s stock worth $683,000 after purchasing an additional 66,578 shares during the period. Intech Investment Management LLC acquired a new position in shares of Gray Television in the third quarter valued at $143,000. Empowered Funds LLC raised its position in shares of Gray Television by 20.1% in the third quarter. Empowered Funds LLC now owns 411,449 shares of the company’s stock valued at $2,205,000 after purchasing an additional 68,795 shares during the period. Finally, GSA Capital Partners LLP lifted its stake in shares of Gray Television by 287.9% during the 3rd quarter. GSA Capital Partners LLP now owns 232,832 shares of the company’s stock worth $1,248,000 after buying an additional 172,801 shares during the last quarter. 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.