Gray Television, Inc. (NYSE:GTN) – Stock analysts at Barrington Research lifted their FY2021 earnings estimates for Gray Television in a note issued to investors on Monday, August 12th. Barrington Research analyst J. Goss now expects that the company will post earnings of $1.95 per share for the year, up from their prior forecast of $1.85. Barrington Research has a “Buy” rating on the stock.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. Gray Television had a net margin of 10.78% and a return on equity of 19.25%. The firm had revenue of $508.00 million during the quarter, compared to analyst estimates of $508.79 million. During the same period in the previous year, the business posted $0.46 earnings per share. The business’s revenue for the quarter was up 103.2% on a year-over-year basis.

GTN has been the subject of several other reports. TheStreet lowered shares of Gray Television from a “b-” rating to a “c+” rating in a research report on Tuesday, June 4th. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. ValuEngine lowered shares of Gray Television from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Finally, Benchmark restated a “buy” rating on shares of Gray Television in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $24.80.

Shares of NYSE GTN opened at $15.15 on Thursday. The firm has a 50 day moving average of $16.87 and a 200 day moving average of $19.10. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 2.89. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 6.23, a price-to-earnings-growth ratio of 1.64 and a beta of 1.98. Gray Television has a 12-month low of $13.60 and a 12-month high of $25.31.

A number of large investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Gray Television by 0.5% during the first quarter. Rhumbline Advisers now owns 116,114 shares of the company’s stock valued at $2,480,000 after purchasing an additional 550 shares in the last quarter. Aperio Group LLC lifted its holdings in Gray Television by 6.5% during the second quarter. Aperio Group LLC now owns 17,116 shares of the company’s stock valued at $281,000 after purchasing an additional 1,043 shares in the last quarter. Penserra Capital Management LLC purchased a new position in Gray Television during the first quarter valued at approximately $35,000. Legal & General Group Plc lifted its holdings in Gray Television by 15.8% during the fourth quarter. Legal & General Group Plc now owns 14,608 shares of the company’s stock valued at $216,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Cascade Investment Advisors Inc. lifted its holdings in Gray Television by 3.3% during the second quarter. Cascade Investment Advisors Inc. now owns 64,150 shares of the company’s stock valued at $1,051,000 after purchasing an additional 2,040 shares in the last quarter. 85.21% of the stock is currently owned by institutional investors and hedge funds.

In other news, Chairman Hilton H. Howell, Jr. purchased 1,800 shares of the stock in a transaction on Friday, August 9th. The shares were acquired at an average price of $14.76 per share, with a total value of $26,568.00. Following the completion of the acquisition, the chairman now directly owns 992,224 shares of the company’s stock, valued at $14,645,226.24. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Harriett J. Robinson purchased 7,500 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $14.87 per share, for a total transaction of $111,525.00. Following the acquisition, the insider now directly owns 1,008,467 shares of the company’s stock, valued at $14,995,904.29. The disclosure for this purchase can be found here. Insiders have purchased 10,600 shares of company stock valued at $158,230 over the last 90 days. 10.14% of the stock is currently owned by company insiders.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Earnings History and Estimates for Gray Television (NYSE:GTN)

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