Gray Television, Inc. (NYSE:GTN) Receives $6.67 Consensus Price Target from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have earned an average rating of “Moderate Buy” from the five analysts that are covering the company, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, two have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $6.67.

A number of research firms have commented on GTN. Benchmark lowered their price target on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Barrington Research raised Gray Television to a “hold” rating in a research note on Thursday, November 14th. Guggenheim cut their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a report on Monday, November 11th. Finally, Wells Fargo & Company raised shares of Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 target price for the company in a research report on Monday.

Gray Television Trading Down 1.3 %

NYSE:GTN opened at $3.50 on Monday. The firm has a market capitalization of $348.34 million, a P/E ratio of 2.33 and a beta of 1.41. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The company has a fifty day moving average of $3.64 and a 200 day moving average of $4.41. Gray Television has a 52 week low of $2.91 and a 52 week high of $7.41.

Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, February 27th. The company reported $1.59 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.59. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. On average, research analysts predict that Gray Television will post 3.32 earnings per share for the current year.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 9.16%. Gray Television’s payout ratio is 9.61%.

Insider Buying and Selling at Gray Television

In other Gray Television news, Director Richard Lee Boger sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $3.85, for a total transaction of $61,600.00. Following the completion of the transaction, the director now owns 55,347 shares of the company’s stock, valued at approximately $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.80% of the company’s stock.

Institutional Trading of Gray Television

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mackenzie Financial Corp bought a new stake in Gray Television in the fourth quarter worth $140,000. Public Employees Retirement System of Ohio raised its position in shares of Gray Television by 30.0% in the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company’s stock worth $45,000 after purchasing an additional 3,262 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gray Television by 49.2% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 357,198 shares of the company’s stock worth $1,125,000 after purchasing an additional 117,827 shares in the last quarter. Two Sigma Advisers LP bought a new position in Gray Television in the 4th quarter worth about $134,000. Finally, Two Sigma Investments LP grew its position in Gray Television by 102.3% during the 4th quarter. Two Sigma Investments LP now owns 176,644 shares of the company’s stock valued at $556,000 after purchasing an additional 89,319 shares during the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Television Company Profile

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.