Gray Television, Inc. (NYSE:GTN – Free Report) – Investment analysts at Barrington Research lifted their Q4 2024 earnings per share (EPS) estimates for Gray Television in a research report issued on Tuesday, February 4th. Barrington Research analyst P. Sholl now anticipates that the company will post earnings per share of $1.59 for the quarter, up from their prior forecast of $1.32. Barrington Research currently has a “Hold” rating on the stock. The consensus estimate for Gray Television’s current full-year earnings is $3.06 per share. Barrington Research also issued estimates for Gray Television’s Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.28) EPS and FY2027 earnings at $0.48 EPS.
Several other brokerages have also weighed in on GTN. Benchmark cut their price objective on shares of Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Guggenheim lowered their price objective on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.67.
Gray Television Stock Performance
NYSE GTN opened at $4.07 on Thursday. The business’s 50-day moving average price is $3.58 and its 200 day moving average price is $4.61. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television has a twelve month low of $2.91 and a twelve month high of $8.76. The company has a market capitalization of $405.15 million, a PE ratio of 2.71 and a beta of 1.41.
Gray Television (NYSE:GTN – Get Free Report) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.08). The business had revenue of $950.00 million for the quarter, compared to analyst estimates of $967.49 million. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. Gray Television’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.57) EPS.
Insider Buying and Selling at Gray Television
In other news, EVP Kevin Paul Latek sold 150,216 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total transaction of $656,443.92. Following the completion of the sale, the executive vice president now directly owns 509,212 shares of the company’s stock, valued at $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 4.80% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital Management Corp VA grew its stake in shares of Gray Television by 27.6% in the 3rd quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after buying an additional 1,170,990 shares in the last quarter. State Street Corp boosted its stake in Gray Television by 1.9% during the third quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after buying an additional 36,541 shares in the last quarter. Geode Capital Management LLC lifted its stake in Gray Television by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company’s stock worth $10,568,000 after purchasing an additional 57,481 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Gray Television by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company’s stock valued at $3,057,000 after acquiring an additional 89,385 shares during the period. Finally, Franklin Resources Inc. grew its stake in Gray Television by 5.5% during the third quarter. Franklin Resources Inc. now owns 696,853 shares of the company’s stock worth $3,951,000 after buying an additional 36,312 shares during the last quarter. 78.64% of the stock is owned by hedge funds and other institutional investors.
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.
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