Equities research analysts forecast that Gray Television (NYSE:GTN) will announce sales of $252.21 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Gray Television’s earnings, with the highest sales estimate coming in at $252.84 million and the lowest estimate coming in at $251.40 million. Gray Television reported sales of $226.68 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.3%. The business is scheduled to issue its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Gray Television will report full-year sales of $1.05 billion for the current fiscal year, with estimates ranging from $1.04 billion to $1.06 billion. For the next financial year, analysts anticipate that the firm will post sales of $982.70 million per share, with estimates ranging from $951.38 million to $1.00 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover Gray Television.
Gray Television (NYSE:GTN) last announced its quarterly earnings data on Tuesday, May 8th. The company reported $0.22 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.07. The company had revenue of $226.26 million during the quarter, compared to analyst estimates of $225.41 million. Gray Television had a net margin of 29.97% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the business earned $0.14 EPS.
Several brokerages have weighed in on GTN. ValuEngine lowered shares of Gray Television from a “hold” rating to a “sell” rating in a report on Wednesday, May 2nd. TheStreet lowered shares of Gray Television from a “b-” rating to a “c” rating in a report on Thursday, April 26th. Zacks Investment Research lowered shares of Gray Television from a “hold” rating to a “strong sell” rating in a report on Tuesday, January 30th. Benchmark reissued a “buy” rating and set a $21.00 price objective on shares of Gray Television in a report on Thursday, February 15th. Finally, Guggenheim restated a “buy” rating and issued a $20.00 price target on shares of Gray Television in a research report on Thursday, March 1st. Two investment analysts have rated the stock with a sell rating and eight have issued a buy rating to the company. Gray Television currently has a consensus rating of “Buy” and an average target price of $18.86.
Shares of Gray Television opened at $11.70 on Friday, MarketBeat reports. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 10.00, a P/E/G ratio of 0.97 and a beta of 2.49. The company has a quick ratio of 6.46, a current ratio of 6.46 and a debt-to-equity ratio of 1.85. Gray Television has a 1-year low of $10.70 and a 1-year high of $17.80.
In other Gray Television news, major shareholder Harriett J. Robinson purchased 8,214 shares of Gray Television stock in a transaction dated Thursday, March 15th. The shares were bought at an average cost of $11.60 per share, for a total transaction of $95,282.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 9.98% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its position in Gray Television by 15.2% in the 1st quarter. BlackRock Inc. now owns 5,226,987 shares of the company’s stock valued at $66,382,000 after purchasing an additional 691,079 shares during the last quarter. Royal Bank of Canada lifted its position in Gray Television by 8.9% in the 1st quarter. Royal Bank of Canada now owns 4,284,476 shares of the company’s stock valued at $54,414,000 after purchasing an additional 350,549 shares during the last quarter. Victory Capital Management Inc. lifted its position in Gray Television by 1.6% in the 1st quarter. Victory Capital Management Inc. now owns 2,496,878 shares of the company’s stock valued at $31,711,000 after purchasing an additional 39,196 shares during the last quarter. Clearbridge LLC lifted its position in Gray Television by 7.1% in the 4th quarter. Clearbridge LLC now owns 2,034,954 shares of the company’s stock valued at $34,085,000 after purchasing an additional 134,960 shares during the last quarter. Finally, Loomis Sayles & Co. L P lifted its position in Gray Television by 5.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 1,718,976 shares of the company’s stock valued at $21,831,000 after purchasing an additional 90,080 shares during the last quarter. Institutional investors own 83.52% of the company’s stock.
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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