Equities research analysts expect Gray Television, Inc. (NYSE:GTN) to announce earnings per share (EPS) of $0.89 for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Gray Television’s earnings, with the highest EPS estimate coming in at $0.92 and the lowest estimate coming in at $0.83. Gray Television posted earnings per share of $0.40 during the same quarter last year, which indicates a positive year over year growth rate of 122.5%. The firm is scheduled to issue its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Gray Television will report full-year earnings of $2.18 per share for the current financial year, with EPS estimates ranging from $2.01 to $2.30. For the next fiscal year, analysts expect that the firm will report earnings of $1.33 per share, with EPS estimates ranging from $1.14 to $1.50. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that follow Gray Television.

Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, November 6th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.61 by $0.09. The firm had revenue of $279.00 million for the quarter, compared to the consensus estimate of $276.52 million. Gray Television had a net margin of 29.12% and a return on equity of 14.95%. The business’s quarterly revenue was up 27.4% on a year-over-year basis. During the same period last year, the company posted $0.21 EPS.

Several brokerages have commented on GTN. ValuEngine upgraded shares of Gray Television from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. Zacks Investment Research downgraded shares of Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, September 6th. Noble Financial set a $23.00 target price on shares of Gray Television and gave the stock a “buy” rating in a report on Wednesday, August 8th. Finally, Benchmark raised their target price on shares of Gray Television from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, November 7th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $22.25.

GTN stock traded up $0.18 during mid-day trading on Thursday, hitting $17.69. 685,068 shares of the company were exchanged, compared to its average volume of 1,009,223. The company has a debt-to-equity ratio of 1.64, a quick ratio of 6.32 and a current ratio of 6.32. The company has a market capitalization of $1.55 billion, a P/E ratio of 15.12, a price-to-earnings-growth ratio of 0.80 and a beta of 2.08. Gray Television has a 1-year low of $10.70 and a 1-year high of $20.24.

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Trust Advisors LP raised its holdings in shares of Gray Television by 32.8% in the second quarter. First Trust Advisors LP now owns 228,935 shares of the company’s stock valued at $3,617,000 after purchasing an additional 56,573 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in Gray Television by 16.5% during the second quarter. Public Employees Retirement System of Ohio now owns 250,449 shares of the company’s stock worth $3,957,000 after buying an additional 35,510 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in Gray Television during the third quarter worth $289,000. Chicago Equity Partners LLC acquired a new position in Gray Television during the second quarter worth $553,000. Finally, James Investment Research Inc. increased its holdings in Gray Television by 287.2% during the third quarter. James Investment Research Inc. now owns 176,686 shares of the company’s stock worth $3,092,000 after buying an additional 131,049 shares during the last quarter. Institutional investors own 86.51% of the company’s stock.

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 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Recommended Story: What is Liquidity?

Get a free copy of the Zacks research report on Gray Television (GTN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with MarketBeat.com's FREE daily email newsletter.