Gray Television (NYSE:GTN) Issues Quarterly Earnings Results, Beats Expectations By $0.09 EPS

Gray Television (NYSE:GTN) posted its earnings results on Sunday. The company reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.09, reports. Gray Television had a return on equity of 18.71% and a net margin of 12.91%. The company had revenue of $544.00 million for the quarter, compared to analysts’ expectations of $532.96 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s quarterly revenue was up 1.9% compared to the same quarter last year.

Shares of NYSE GTN traded down $0.36 during trading on Tuesday, hitting $21.81. 44,253 shares of the company traded hands, compared to its average volume of 664,317. The company has a debt-to-equity ratio of 2.37, a quick ratio of 2.67 and a current ratio of 2.67. The business’s fifty day moving average is $19.57 and its 200 day moving average is $17.83. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 9.42, a P/E/G ratio of 1.17 and a beta of 2.06. Gray Television has a fifty-two week low of $10.45 and a fifty-two week high of $23.25.

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 31st. Investors of record on Monday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 12th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.47%. Gray Television’s payout ratio is presently 25.20%.

A number of equities research analysts have recently weighed in on the company. Zacks Investment Research raised Gray Television from a “sell” rating to a “hold” rating in a research note on Thursday, March 4th. Loop Capital lifted their price target on shares of Gray Television from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Tuesday, January 5th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Gray Television has a consensus rating of “Buy” and a consensus price target of $21.00.

In other news, EVP Kevin Paul Latek sold 35,415 shares of the business’s stock in a transaction that occurred on Monday, February 22nd. The stock was sold at an average price of $19.08, for a total transaction of $675,718.20. Following the completion of the sale, the executive vice president now owns 288,721 shares in the company, valued at $5,508,796.68. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 76,350 shares of company stock valued at $1,497,227. 10.27% of the stock is currently owned by company insiders.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and/or operates television stations and digital assets in the United States. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, Circle, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

Further Reading: FTSE 100 Index

Earnings History for Gray Television (NYSE:GTN)

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