Barrington Research Weighs in on Gray Television Inc.’s Q4 2016 Earnings (GTN)
Gray Television Inc. (NYSE:GTN) – Stock analysts at Barrington Research lowered their Q4 2016 EPS estimates for shares of Gray Television in a report issued on Thursday. Barrington Research analyst J. Goss now forecasts that the brokerage will earn $0.74 per share for the quarter, down from their previous estimate of $0.84.
Gray Television (NYSE:GTN) last released its quarterly earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, meeting the consensus estimate of $0.25. The business earned $196.60 million during the quarter, compared to analysts’ expectations of $196.25 million. Gray Television had a return on equity of 12.58% and a net margin of 6.98%. The firm’s revenue for the quarter was up 37.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.17 EPS.
A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Co. reaffirmed a “buy” rating on shares of Gray Television in a report on Monday. Zacks Investment Research cut Gray Television from a “hold” rating to a “sell” rating in a report on Monday, September 12th. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $18.75.
Gray Television (NYSE:GTN) opened at 10.16 on Monday. The stock has a 50 day moving average price of $10.99 and a 200-day moving average price of $11.43. The stock has a market cap of $730.28 million, a PE ratio of 15.19 and a beta of 2.94. Gray Television has a one year low of $9.15 and a one year high of $17.70.
Institutional investors have recently made changes to their positions in the stock. Teacher Retirement System of Texas boosted its position in shares of Gray Television by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock worth $100,000 after buying an additional 1,434 shares during the last quarter. BlackRock Inc. boosted its position in shares of Gray Television by 43.6% in the second quarter. BlackRock Inc. now owns 9,627 shares of the company’s stock worth $105,000 after buying an additional 2,922 shares during the last quarter. Legal & General Group Plc boosted its position in shares of Gray Television by 26.3% in the first quarter. Legal & General Group Plc now owns 9,143 shares of the company’s stock worth $106,000 after buying an additional 1,906 shares during the last quarter. Sei Investments Co. boosted its position in shares of Gray Television by 407.6% in the second quarter. Sei Investments Co. now owns 10,441 shares of the company’s stock worth $113,000 after buying an additional 8,384 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of Gray Television during the second quarter worth approximately $149,000. 86.57% of the stock is owned by institutional investors and hedge funds.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).
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