Gray Television Inc. (NYSE:GTN) has been given a consensus recommendation of “Buy” by the six analysts that are covering the stock. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $20.67.

GTN has been the topic of a number of research reports. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research report on Monday, September 26th. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th.

Shares of Gray Television (NYSE:GTN) traded up 2.52% on Monday, hitting $9.75. The stock had a trading volume of 309,357 shares. The firm has a market capitalization of $700.81 million, a price-to-earnings ratio of 14.57 and a beta of 2.99. Gray Television has a 1-year low of $9.15 and a 1-year high of $17.70. The firm has a 50 day moving average of $10.55 and a 200-day moving average of $11.28.

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 Zacks’ consensus estimate of $0.25. Gray Television had a return on equity of 12.58% and a net margin of 6.98%. The business had revenue of $196.60 million for the quarter, compared to the consensus estimate of $196.25 million. During the same quarter last year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 37.1% on a year-over-year basis. Equities analysts predict that Gray Television will post $1.43 earnings per share for the current year.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Nationwide Fund Advisors boosted its position in shares of Gray Television by 0.5% in the second quarter. Nationwide Fund Advisors now owns 88,698 shares of the company’s stock worth $962,000 after buying an additional 448 shares during the period. California State Teachers Retirement System boosted its stake in Gray Television by 0.6% in the second quarter. California State Teachers Retirement System now owns 134,485 shares of the company’s stock valued at $1,459,000 after buying an additional 758 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in Gray Television by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock valued at $100,000 after buying an additional 1,434 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its stake in Gray Television by 21.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,718 shares of the company’s stock valued at $171,000 after buying an additional 2,792 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in Gray Television by 43.6% in the second quarter. BlackRock Inc. now owns 9,627 shares of the company’s stock valued at $105,000 after buying an additional 2,922 shares during the last quarter. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

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).

5 Day Chart for NYSE:GTN

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