Equities research analysts expect that Gray Television, Inc. (NYSE:GTN) will post $0.23 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for Gray Television’s earnings. The lowest EPS estimate is $0.21 and the highest is $0.24. Gray Television reported earnings per share of $0.26 in the same quarter last year, which would suggest a negative year over year growth rate of 11.5%. The company is scheduled to announce its next earnings report on Tuesday, November 14th.

On average, analysts expect that Gray Television will report full-year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.60 to $1.66. For the next financial year, analysts expect that the business will post earnings of $1.75 per share, with EPS estimates ranging from $1.70 to $1.80. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Gray Television.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. The business had revenue of $226.70 million during the quarter, compared to the consensus estimate of $221.05 million. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The firm’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.24 EPS.

Several brokerages have recently commented on GTN. Wells Fargo & Co reaffirmed an “outperform” rating and set a $18.00 price objective (up previously from $15.50) on shares of Gray Television in a research report on Thursday, August 10th. Benchmark Co. raised their price objective on shares of Gray Television from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Wednesday, August 9th. Royal Bank Of Canada raised their price objective on shares of Gray Television from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded shares of Gray Television from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 6th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Gray Television presently has an average rating of “Buy” and an average price target of $17.00.

Shares of Gray Television (GTN) traded up 4.63% during midday trading on Friday, hitting $14.70. 1,184,092 shares of the company traded hands. The stock’s 50-day moving average is $14.31 and its 200 day moving average is $13.74. The stock has a market capitalization of $1.05 billion, a P/E ratio of 9.14 and a beta of 3.28. Gray Television has a 12-month low of $7.00 and a 12-month high of $15.45.

A number of hedge funds have recently bought and sold shares of GTN. Norges Bank acquired a new stake in Gray Television during the fourth quarter valued at about $1,302,000. Skylands Capital LLC acquired a new stake in Gray Television during the second quarter valued at about $521,000. Clinton Group Inc. acquired a new stake in Gray Television during the first quarter valued at about $176,000. Airain ltd increased its stake in Gray Television by 226.6% in the first quarter. Airain ltd now owns 53,550 shares of the company’s stock valued at $776,000 after buying an additional 37,155 shares during the last quarter. Finally, American International Group Inc. increased its stake in Gray Television by 7.1% in the first quarter. American International Group Inc. now owns 39,493 shares of the company’s stock valued at $573,000 after buying an additional 2,613 shares during the last quarter. 89.48% of the stock is owned by institutional investors and hedge funds.

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About Gray Television

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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Earnings History and Estimates for Gray Television (NYSE:GTN)

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