Gray Television (NYSE:GTN) Stock Rating Upgraded by Zacks Investment Research

Zacks Investment Research upgraded shares of Gray Television (NYSE:GTN) from a sell rating to a hold rating in a research report sent to investors on Wednesday, reports.

According to Zacks, “Gray Television is a communications company headquartered in Atlanta, Georgia, and currently operates 15 CBS-affiliated television stations, seven NBC-affiliated television stations, seven ABC-affiliated television stations and four daily newspapers. “

A number of other brokerages also recently weighed in on GTN. Benchmark reissued a buy rating on shares of Gray Television in a research note on Thursday, May 9th. Barrington Research set a $22.00 target price on shares of The Hackett Group and gave the stock a buy rating in a research note on Wednesday, May 8th. ValuEngine raised shares of Zillow Group from a hold rating to a buy rating in a research note on Thursday, July 11th. Finally, TheStreet downgraded shares of TIM Participacoes from a b rating to a c+ rating in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $24.80.

Shares of NYSE GTN opened at $17.76 on Wednesday. Gray Television has a twelve month low of $13.75 and a twelve month high of $25.31. The business’s fifty day moving average price is $16.95. The company has a market capitalization of $1.80 billion, a P/E ratio of 7.13, a PEG ratio of 1.95 and a beta of 1.99. 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 announced its earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.13. Gray Television had a net margin of 12.56% and a return on equity of 20.34%. The business had revenue of $518.00 million during the quarter, compared to the consensus estimate of $498.41 million. During the same quarter last year, the firm earned $0.22 earnings per share. Gray Television’s quarterly revenue was up 129.2% on a year-over-year basis. As a group, analysts anticipate that Gray Television will post 0.91 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Cascade Investment Advisors Inc. boosted its stake in Gray Television by 3.3% in the second quarter. Cascade Investment Advisors Inc. now owns 64,150 shares of the company’s stock valued at $1,051,000 after acquiring an additional 2,040 shares during the last quarter. New York State Teachers Retirement System purchased a new position in Gray Television in the second quarter valued at about $115,000. Campbell & CO Investment Adviser LLC purchased a new position in Gray Television in the second quarter valued at about $437,000. Copper Rock Capital Partners LLC purchased a new position in Gray Television in the second quarter valued at about $19,850,000. Finally, Denali Advisors LLC purchased a new position in Gray Television in the second quarter valued at about $334,000. 85.09% of the stock is owned by hedge funds and other 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.

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