ValuEngine lowered shares of Gray Television, Inc. (NYSE:GTN) from a strong-buy rating to a buy rating in a research report released on Friday morning.

A number of other brokerages have also issued reports on GTN. Royal Bank Of Canada lifted their price target on Gray Television from $16.00 to $17.00 and gave the stock an outperform rating in a research note on Wednesday, August 9th. Benchmark Co. lifted their price target on Gray Television from $19.00 to $20.00 and gave the stock a buy rating in a research note on Wednesday, August 9th. BidaskClub lowered Gray Television from a strong-buy rating to a buy rating in a research note on Sunday, August 6th. Finally, Wells Fargo & Company reaffirmed an outperform rating and issued a $18.00 price target (up from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Six equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $17.00.

Shares of Gray Television (NYSE:GTN) traded up 3.36% during mid-day trading on Friday, hitting $13.85. The stock had a trading volume of 943,312 shares. Gray Television has a one year low of $7.00 and a one year high of $15.45. The firm has a 50 day moving average of $14.20 and a 200-day moving average of $13.88. The stock has a market cap of $992.14 million, a P/E ratio of 8.61 and a beta of 3.29.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. The firm had revenue of $226.70 million for the quarter, compared to analyst estimates of $221.05 million. Gray Television had a return on equity of 17.32% and a net margin of 13.38%. The business’s revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. Equities research analysts expect that Gray Television will post $1.61 earnings per share for the current fiscal year.

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A number of institutional investors have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC lifted its position in Gray Television by 1.3% during the second quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock worth $429,000 after buying an additional 399 shares in the last quarter. Sterling Capital Management LLC lifted its position in Gray Television by 0.8% during the second quarter. Sterling Capital Management LLC now owns 58,513 shares of the company’s stock worth $802,000 after buying an additional 440 shares in the last quarter. Legal & General Group Plc lifted its position in Gray Television by 3.2% during the second quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock worth $226,000 after buying an additional 505 shares in the last quarter. Rhumbline Advisers lifted its position in Gray Television by 0.7% during the second quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after buying an additional 535 shares in the last quarter. Finally, Cipher Capital LP lifted its position in Gray Television by 1.2% during the first quarter. Cipher Capital LP now owns 82,598 shares of the company’s stock worth $1,198,000 after buying an additional 963 shares in the last quarter. Hedge funds and other institutional investors own 89.48% of the company’s stock.

Gray Television Company Profile

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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