Noble Financial Forecasts Gray Television FY2024 Earnings

Gray Television, Inc. (NYSE:GTN) – Investment analysts at Noble Financial issued their FY2024 earnings per share (EPS) estimates for Gray Television in a research note issued 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.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to analysts’ expectations of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period last year, the company earned ($0.57) earnings per share.

Several other brokerages also recently commented on GTN. Wells Fargo & Company cut their price objective on Gray Television from $6.00 to $4.00 and set an “underweight” rating on the stock in a research report on Friday, August 9th. Benchmark lowered their target price on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday. Guggenheim reduced their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $6.67.

Gray Television Trading Up 8.9 %

GTN opened at $4.79 on Thursday. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.63 and a current ratio of 1.13. The stock’s 50 day moving average price is $5.27 and its 200-day moving average price is $5.43. Gray Television has a one year low of $3.95 and a one year high of $10.07. The stock has a market cap of $477.40 million, a price-to-earnings ratio of 3.19, a P/E/G ratio of 0.10 and a beta of 1.47.

Institutional Trading of Gray Television

A number of hedge funds have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC bought a new stake in shares of Gray Television in the 1st quarter valued at about $25,000. nVerses Capital LLC bought a new position in Gray Television in the second quarter worth approximately $27,000. CWM LLC lifted its holdings in Gray Television by 733.1% during the second quarter. CWM LLC now owns 7,448 shares of the company’s stock worth $39,000 after buying an additional 6,554 shares during the period. Creative Planning bought a new stake in Gray Television during the 3rd quarter valued at $56,000. Finally, HBK Sorce Advisory LLC purchased a new position in shares of Gray Television in the 2nd quarter valued at $58,000. 78.64% of the stock is owned by hedge funds and other institutional investors.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, December 13th. This represents a $0.32 annualized dividend and a dividend yield of 6.68%. Gray Television’s dividend payout ratio is currently 21.33%.

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.