Gray Television (NYSE:GTN) Raised to “Hold” at ValuEngine

ValuEngine upgraded shares of Gray Television (NYSE:GTN) from a sell rating to a hold rating in a report published on Thursday, ValuEngine reports.

GTN has been the topic of several other research reports. Benchmark reaffirmed a buy rating on shares of Gray Television in a research note on Thursday, May 9th. Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a research note on Wednesday. Barrington Research set a $22.00 price objective on shares of The Hackett Group and gave the stock a buy rating in a research note on Wednesday, May 8th. Finally, TheStreet cut shares of TIM Participacoes from a b rating to a c+ rating in a research note on Tuesday, June 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Gray Television currently has an average rating of Buy and a consensus price target of $24.80.

GTN stock opened at $18.53 on Thursday. Gray Television has a 52 week low of $13.75 and a 52 week high of $25.31. The company has a market cap of $1.87 billion, a P/E ratio of 7.44, a price-to-earnings-growth ratio of 2.04 and a beta of 1.99. The stock’s 50-day moving average is $16.95. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.51 and a quick ratio of 2.51.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.31) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $498.41 million. Gray Television had a net margin of 12.56% and a return on equity of 20.34%. Gray Television’s revenue was up 129.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.22 EPS. As a group, sell-side analysts anticipate that Gray Television will post 0.91 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. GYL Financial Synergies LLC acquired a new position in shares of Gray Television in the 1st quarter worth approximately $2,143,000. FMR LLC increased its position in shares of Gray Television by 135.5% in the fourth quarter. FMR LLC now owns 5,862,909 shares of the company’s stock worth $86,420,000 after acquiring an additional 3,373,876 shares in the last quarter. Weber Alan W purchased a new position in shares of Gray Television in the fourth quarter worth approximately $255,000. Great West Life Assurance Co. Can increased its position in shares of Gray Television by 38.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 10,961 shares of the company’s stock worth $156,000 after acquiring an additional 3,061 shares in the last quarter. Finally, Millennium Management LLC increased its position in shares of Gray Television by 63.8% in the fourth quarter. Millennium Management LLC now owns 1,267,080 shares of the company’s stock worth $18,677,000 after acquiring an additional 493,675 shares in the last quarter. 83.89% of the stock is currently owned by institutional investors.

Gray Television Company Profile

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.

Featured Story: Momentum Indicators

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations 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.