Gray Media Inc. (NYSE:GTN) Receives Average Rating of “Moderate Buy” from Analysts

Gray Media Inc. (NYSE:GTN) has been given a consensus rating of “Moderate Buy” by the six research firms that are presently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.25.

A number of research analysts have issued reports on the company. Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th. Wall Street Zen cut shares of Gray Media from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Zacks Research upgraded shares of Gray Media from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 28th. Benchmark lifted their price objective on shares of Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a report on Monday, November 10th. Finally, Wells Fargo & Company upped their price objective on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research report on Monday, November 10th.

Institutional Investors Weigh In On Gray Media

Institutional investors have recently added to or reduced their stakes in the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of Gray Media in the third quarter worth approximately $1,560,000. Prudential Financial Inc. raised its stake in Gray Media by 94.7% in the 2nd quarter. Prudential Financial Inc. now owns 907,347 shares of the company’s stock valued at $4,110,000 after purchasing an additional 441,290 shares during the last quarter. Bank of Montreal Can acquired a new position in Gray Media in the 2nd quarter valued at $363,000. New York State Common Retirement Fund lifted its holdings in Gray Media by 36.7% in the 3rd quarter. New York State Common Retirement Fund now owns 1,881,087 shares of the company’s stock valued at $10,873,000 after purchasing an additional 504,780 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in Gray Media by 80.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 31,633 shares of the company’s stock worth $143,000 after purchasing an additional 14,079 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Media Trading Down 0.9%

NYSE GTN opened at $4.41 on Thursday. Gray Media has a 1 year low of $3.13 and a 1 year high of $6.30. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market capitalization of $450.22 million, a PE ratio of 10.76 and a beta of 0.89. The company has a fifty day moving average of $4.71 and a 200 day moving average of $5.04.

Gray Media (NYSE:GTN) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The business had revenue of $749.00 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was down 21.2% on a year-over-year basis. Research analysts forecast that Gray Media will post 3.32 earnings per share for the current year.

Gray Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.3%. The ex-dividend date of this dividend was Monday, December 15th. Gray Media’s dividend payout ratio (DPR) is presently 78.05%.

About Gray Media

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.