Equities Analysts Set Expectations for Gray Television, Inc.’s FY2018 Earnings (GTN)

Gray Television, Inc. (NYSE:GTN) – Analysts at Jefferies Financial Group raised their FY2018 earnings estimates for Gray Television in a research report issued on Tuesday, November 6th. Jefferies Financial Group analyst J. Janedis now expects that the company will post earnings per share of $2.22 for the year, up from their prior forecast of $1.93. Jefferies Financial Group also issued estimates for Gray Television’s Q4 2018 earnings at $0.83 EPS, Q3 2019 earnings at $0.37 EPS, Q4 2019 earnings at $0.43 EPS and FY2019 earnings at $1.48 EPS.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Tuesday, November 6th. The company reported $0.70 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. The company had revenue of $279.00 million during the quarter, compared to analyst estimates of $276.52 million. Gray Television had a return on equity of 15.28% and a net margin of 29.12%. Gray Television’s revenue was up 27.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.21 earnings per share.

Several other research firms also recently weighed in on GTN. Noble Financial reiterated a “buy” rating on shares of Gray Television in a research report on Wednesday. Benchmark lifted their target price on Gray Television from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday. ValuEngine upgraded Gray Television from a “hold” rating to a “buy” rating in a research report on Monday, October 22nd. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “buy” rating and set a $19.00 target price on the stock in a research report on Wednesday, September 5th. Finally, Barrington Research reiterated a “buy” rating and set a $19.00 target price on shares of Gray Television in a research report on Tuesday, August 7th. Two research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $21.88.

NYSE GTN opened at $19.91 on Friday. The firm has a market cap of $1.64 billion, a P/E ratio of 17.02, a P/E/G ratio of 0.92 and a beta of 2.23. The company has a current ratio of 4.69, a quick ratio of 4.69 and a debt-to-equity ratio of 1.74. Gray Television has a fifty-two week low of $10.70 and a fifty-two week high of $20.24.

Several large investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. increased its stake in Gray Television by 1,231.2% during the third quarter. Meeder Asset Management Inc. now owns 7,974 shares of the company’s stock worth $139,000 after acquiring an additional 7,375 shares during the last quarter. Aperio Group LLC bought a new position in shares of Gray Television in the 2nd quarter worth about $177,000. Xact Kapitalforvaltning AB bought a new position in shares of Gray Television in the 1st quarter worth about $187,000. Financial Counselors Inc. bought a new position in shares of Gray Television in the 3rd quarter worth about $194,000. Finally, HRT Financial LLC bought a new position in shares of Gray Television in the 2nd quarter worth about $225,000. Institutional investors own 88.60% 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.

Further Reading: Outstanding Shares

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

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