ValuEngine Downgrades Gray Television (NYSE:GTN) to Sell

ValuEngine cut shares of Gray Television (NYSE:GTN) from a hold rating to a sell rating in a research note released on Thursday morning, ValuEngine reports.

Other equities analysts have also issued reports about the company. Barrington Research restated a buy rating on shares of Gray Television in a research note on Wednesday, May 8th. Benchmark restated a buy rating on shares of Gray Television in a research note on Thursday, May 9th. Zacks Investment Research upgraded Gray Television from a sell rating to a hold rating in a research note on Thursday, July 25th. Finally, TheStreet lowered Gray Television from a b- rating to a c+ rating in a research note on Tuesday, June 4th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Buy and an average price target of $24.80.

GTN traded down $0.56 on Thursday, hitting $17.08. 1,072,400 shares of the stock traded hands, compared to its average volume of 876,432. Gray Television has a 52 week low of $13.75 and a 52 week high of $25.31. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.05. The company has a market cap of $1.78 billion, a price-to-earnings ratio of 7.03, a PEG ratio of 1.94 and a beta of 1.98. The business has a fifty day moving average of $17.21.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.13. Gray Television had a return on equity of 20.34% and a net margin of 12.56%. The firm had revenue of $518.00 million for the quarter, compared to analyst estimates of $498.41 million. During the same period in the previous year, the company posted $0.22 earnings per share. The company’s quarterly revenue was up 129.2% compared to the same quarter last year. On average, research analysts forecast that Gray Television will post 0.91 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Retirement Systems of Alabama acquired a new stake in Gray Television during the first quarter valued at approximately $152,227,000. FMR LLC boosted its holdings in Gray Television by 135.5% during the fourth quarter. FMR LLC now owns 5,862,909 shares of the company’s stock valued at $86,420,000 after purchasing an additional 3,373,876 shares in the last quarter. Copper Rock Capital Partners LLC acquired a new stake in Gray Television during the second quarter valued at approximately $19,850,000. Geode Capital Management LLC boosted its holdings in Gray Television by 6.9% during the fourth quarter. Geode Capital Management LLC now owns 816,143 shares of the company’s stock valued at $12,029,000 after purchasing an additional 52,552 shares in the last quarter. Finally, Hillcrest Asset Management LLC boosted its holdings in Gray Television by 35.7% during the first quarter. Hillcrest Asset Management LLC now owns 737,694 shares of the company’s stock valued at $15,757,000 after purchasing an additional 194,255 shares in the last quarter. 85.05% 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 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gray Television (NYSE:GTN)

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