Gray Television (NYSE:GTN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday, January 3rd.
Other equities analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Royal Bank of Canada restated a “buy” rating and set a $17.00 target price on shares of Gray Television in a research report on Wednesday, September 27th. Jefferies Group initiated coverage on shares of Gray Television in a research report on Thursday, December 14th. They set a “buy” rating and a $18.00 target price on the stock. Benchmark reaffirmed a “buy” rating and set a $21.00 price target on shares of Gray Television in a report on Tuesday, November 7th. Finally, Guggenheim initiated coverage on Gray Television in a report on Wednesday, October 18th. They set a “buy” rating and a $20.00 price target for the company. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $18.43.
Gray Television (GTN) opened at $17.25 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 3.11. The stock has a market cap of $1,520.00, a P/E ratio of 9.48, a PEG ratio of 2.11 and a beta of 3.13. Gray Television has a 1 year low of $9.95 and a 1 year high of $17.50.
Gray Television (NYSE:GTN) last announced its earnings results on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). The business had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The business’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business posted $0.26 earnings per share. research analysts predict that Gray Television will post 1.57 EPS for the current year.
In related news, EVP Kevin Paul Latek sold 97,634 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $16.96, for a total transaction of $1,655,872.64. Following the completion of the sale, the executive vice president now directly owns 219,706 shares of the company’s stock, valued at $3,726,213.76. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 12.00% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Skylands Capital LLC lifted its holdings in Gray Television by 40.0% in the third quarter. Skylands Capital LLC now owns 53,200 shares of the company’s stock valued at $835,000 after acquiring an additional 15,200 shares during the period. Vanguard Group Inc. lifted its holdings in Gray Television by 5.3% in the second quarter. Vanguard Group Inc. now owns 2,861,369 shares of the company’s stock valued at $39,201,000 after acquiring an additional 145,189 shares during the period. FMR LLC lifted its holdings in Gray Television by 52.1% in the second quarter. FMR LLC now owns 5,870,039 shares of the company’s stock valued at $80,419,000 after acquiring an additional 2,011,342 shares during the period. ClariVest Asset Management LLC lifted its holdings in Gray Television by 50.9% in the third quarter. ClariVest Asset Management LLC now owns 148,191 shares of the company’s stock valued at $2,325,000 after acquiring an additional 49,959 shares during the period. Finally, Virginia Retirement Systems ET AL lifted its holdings in Gray Television by 47.4% in the third quarter. Virginia Retirement Systems ET AL now owns 90,800 shares of the company’s stock valued at $1,426,000 after acquiring an additional 29,200 shares during the period. 67.43% of the stock is owned by institutional investors.
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Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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