Analysts Set Gray Television, Inc. (GTN) Target Price at $18.60
Gray Television, Inc. (NYSE:GTN) has received a consensus rating of “Buy” from the nine brokerages that are presently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $18.80.
Several equities analysts have recently issued reports on GTN shares. Royal Bank Of Canada set a $16.00 price target on Gray Television and gave the stock a “buy” rating in a research report on Tuesday, July 18th. BidaskClub raised Gray Television from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 31st. Benchmark Co. lifted their price target on Gray Television from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $18.00 price target (up previously from $15.50) on shares of Gray Television in a research report on Thursday, August 10th. Finally, ValuEngine raised Gray Television from a “buy” rating to a “strong-buy” rating in a research report on Friday, September 1st.
Gray Television (NYSE:GTN) traded up $0.40 on Thursday, hitting $15.10. The stock had a trading volume of 1,546,737 shares, compared to its average volume of 1,090,000. The company has a current ratio of 3.32, a quick ratio of 3.32 and a debt-to-equity ratio of 3.20. The stock has a market cap of $1,080.00, a price-to-earnings ratio of 12.90, a PEG ratio of 1.45 and a beta of 3.22. Gray Television has a 12-month low of $7.00 and a 12-month high of $16.70.
Gray Television (NYSE:GTN) last posted its quarterly earnings results on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.22 by ($0.01). The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $218.78 million. Gray Television had a return on equity of 17.32% and a net margin of 13.38%. Gray Television’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.26 EPS. equities analysts anticipate that Gray Television will post 1.63 EPS for the current fiscal year.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Skylands Capital LLC bought a new stake in Gray Television in the 2nd quarter worth about $521,000. FMR LLC increased its holdings in Gray Television by 52.1% in the 2nd quarter. FMR LLC now owns 5,870,039 shares of the company’s stock worth $80,419,000 after buying an additional 2,011,342 shares in the last quarter. American International Group Inc. increased its holdings in Gray Television by 7.1% in the 1st quarter. American International Group Inc. now owns 39,493 shares of the company’s stock worth $573,000 after buying an additional 2,613 shares in the last quarter. OppenheimerFunds Inc. bought a new stake in Gray Television in the 1st quarter worth about $284,000. Finally, Legal & General Group Plc increased its holdings in Gray Television by 3.7% in the 1st quarter. Legal & General Group Plc now owns 15,997 shares of the company’s stock worth $230,000 after buying an additional 565 shares in the last quarter. Institutional investors own 81.48% of the company’s stock.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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