FY2024 EPS Estimates for Gray Television Boosted by Analyst

Gray Television, Inc. (NYSE:GTN) – Analysts at Barrington Research increased their FY2024 earnings estimates for shares of Gray Television in a research note issued to investors on Tuesday, February 4th. Barrington Research analyst P. Sholl now forecasts that the company will post earnings of $3.32 per share for the year, up from their prior estimate of $3.06. 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 Q4 2025 earnings at $0.07 EPS and FY2026 earnings at $3.18 EPS.

Several other equities research analysts have also recently issued reports on GTN. StockNews.com raised shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim lowered their price target on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Benchmark reduced their price objective on Gray Television from $11.00 to $8.00 and set a “buy” rating on the stock in a report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Gray Television has a consensus rating of “Moderate Buy” and a consensus price target of $6.67.

Gray Television Stock Performance

GTN stock opened at $4.20 on Wednesday. The business’s fifty day simple moving average is $3.58 and its two-hundred day simple moving average is $4.62. 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 firm has a market cap of $418.12 million, a price-to-earnings ratio of 2.80 and a beta of 1.40. Gray Television has a twelve month low of $2.91 and a twelve month high of $9.04.

Gray Television (NYSE:GTN) last announced its earnings results 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). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $950.00 million for the quarter, compared to analysts’ expectations of $967.49 million. During the same quarter last year, the firm earned ($0.57) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis.

Institutional Investors Weigh In On Gray Television

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTN. Creative Planning purchased a new stake in shares of Gray Television during the third quarter valued at $56,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Gray Television in the third quarter valued at about $59,000. MML Investors Services LLC purchased a new position in shares of Gray Television in the third quarter worth about $65,000. EP Wealth Advisors LLC acquired a new stake in shares of Gray Television during the third quarter worth about $67,000. Finally, nVerses Capital LLC boosted its position in Gray Television by 180.4% in the third quarter. nVerses Capital LLC now owns 14,300 shares of the company’s stock valued at $77,000 after buying an additional 9,200 shares during the last quarter. 78.64% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Kevin Paul Latek sold 150,216 shares of the 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 owns 509,212 shares in the company, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.83% of the company’s stock.

Gray Television Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.63%. The ex-dividend date of this dividend was Friday, December 13th. Gray Television’s payout ratio is 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.