Analysts expect Gray Television, Inc. (NYSE:GTN) to post earnings of $0.41 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Gray Television’s earnings, with estimates ranging from $0.39 to $0.42. Gray Television posted earnings per share of $0.28 during the same quarter last year, which indicates a positive year over year growth rate of 46.4%. The firm is scheduled to announce its next quarterly earnings report on Tuesday, August 14th.
According to Zacks, analysts expect that Gray Television will report full-year earnings of $1.83 per share for the current fiscal year, with EPS estimates ranging from $1.78 to $1.88. For the next fiscal year, analysts forecast that the business will post earnings of $1.25 per share, with EPS estimates ranging from $1.12 to $1.39. Zacks Investment Research’s earnings per share 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 results on Tuesday, May 8th. The company reported $0.22 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.07. Gray Television had a return on equity of 11.06% and a net margin of 29.97%. The business had revenue of $226.26 million during the quarter, compared to analysts’ expectations of $225.41 million. During the same quarter last year, the business posted $0.14 earnings per share. The business’s revenue for the quarter was up 11.2% on a year-over-year basis.
A number of analysts recently commented on the company. Zacks Investment Research cut Gray Television from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. TheStreet cut Gray Television from a “b-” rating to a “c” rating in a research report on Thursday, April 26th. Barrington Research reiterated a “buy” rating and set a $22.00 price objective on shares of Gray Television in a research report on Tuesday, February 27th. Guggenheim reiterated a “buy” rating and set a $20.00 price objective on shares of Gray Television in a research report on Thursday, March 1st. Finally, Noble Financial reiterated a “buy” rating on shares of Gray Television in a research report on Monday, March 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $20.86.
A number of large investors have recently modified their holdings of GTN. Amalgamated Bank acquired a new stake in Gray Television in the 1st quarter worth about $136,000. Element Capital Management LLC acquired a new stake in Gray Television in the 1st quarter worth about $146,000. Guggenheim Capital LLC acquired a new stake in Gray Television in the 4th quarter worth about $167,000. DekaBank Deutsche Girozentrale acquired a new stake in Gray Television in the 1st quarter worth about $167,000. Finally, Tower Research Capital LLC TRC boosted its stake in Gray Television by 77.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,758 shares of the company’s stock worth $180,000 after buying an additional 4,706 shares during the last quarter. 88.01% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gray Television traded up $1.65, reaching $16.50, during mid-day trading on Thursday, MarketBeat.com reports. The stock had a trading volume of 315,859 shares, compared to its average volume of 955,537. Gray Television has a 12-month low of $10.70 and a 12-month high of $17.80. The stock has a market cap of $1.14 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.16 and a beta of 2.50. 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 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.
Get a free copy of the Zacks research report on Gray Television (GTN)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.