Gray Television, Inc. (NYSE:GTN) Receives $6.33 Average PT from Brokerages

Shares of Gray Television, Inc. (NYSE:GTN) have been given an average rating of “Moderate Buy” by the five analysts that are currently covering the firm, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $6.33.

Several equities analysts have recently commented on the company. Wells Fargo & Company raised Gray Television from an “underweight” rating to an “equal weight” rating and set a $4.00 target price for the company in a report on Monday, March 3rd. Guggenheim lowered their price objective on Gray Television from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Monday, March 10th.

Gray Television Price Performance

Shares of GTN opened at $4.31 on Friday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The firm has a market cap of $437.14 million, a price-to-earnings ratio of 2.87 and a beta of 1.45. Gray Television has a 52 week low of $2.91 and a 52 week high of $7.41. The stock has a 50 day moving average of $4.03 and a 200-day moving average of $4.35.

Gray Television (NYSE:GTN) last released its earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter, meeting the consensus estimate of $1.59. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.04 billion. As a group, analysts forecast that Gray Television will post 3.32 EPS for the current year.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.43%. The ex-dividend date is Friday, March 14th. Gray Television’s dividend payout ratio (DPR) is 9.61%.

Insider Activity at Gray Television

In other news, Director Richard Lee Boger sold 16,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $3.85, for a total value 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 represents a 22.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 4.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Gray Television

A number of institutional investors and hedge funds have recently bought and sold shares of GTN. Wealth Enhancement Advisory Services LLC raised its position in shares of Gray Television by 122.3% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 110,170 shares of the company’s stock worth $347,000 after buying an additional 60,618 shares in the last quarter. Mackenzie Financial Corp bought a new position in Gray Television during the 4th quarter valued at $140,000. Public Employees Retirement System of Ohio boosted its stake in Gray Television by 30.0% during the 4th quarter. Public Employees Retirement System of Ohio now owns 14,146 shares of the company’s stock valued at $45,000 after purchasing an additional 3,262 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Gray Television by 49.2% during 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 valued at $1,125,000 after purchasing an additional 117,827 shares during the period. Finally, Two Sigma Advisers LP bought a new stake in shares of Gray Television in the 4th quarter worth $134,000. 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.