Gray Television, Inc. (NYSE:GTN) shares gapped down before the market opened on Friday . The stock had previously closed at $15.95, but opened at $15.35. Gray Television shares last traded at $14.40, with a volume of 11418101 shares traded.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of Gray Television from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. Wells Fargo & Company reaffirmed an “outperform” rating and set a $18.00 price objective (up from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Benchmark lifted their price objective on shares of Gray Television from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Wednesday, August 9th. ValuEngine raised shares of Gray Television from a “buy” rating to a “strong-buy” rating in a research note on Thursday, September 21st. Finally, Royal Bank Of Canada lifted their price objective on shares of Gray Television from $16.00 to $17.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.50.

The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. The firm has a market cap of $1,052.71, a P/E ratio of 12.72, a P/E/G ratio of 1.38 and a beta of 3.15.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.01). The firm had revenue of $219.00 million for the quarter, compared to analysts’ expectations of $218.78 million. Gray Television had a return on equity of 15.53% and a net margin of 14.91%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.26 earnings per share. sell-side analysts predict that Gray Television, Inc. will post 1.61 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in shares of Gray Television by 52.1% during the second quarter. FMR LLC now owns 5,870,039 shares of the company’s stock valued at $80,419,000 after purchasing an additional 2,011,342 shares during the period. Vanguard Group Inc. boosted its stake in shares of Gray Television by 5.3% during the second quarter. Vanguard Group Inc. now owns 2,861,369 shares of the company’s stock valued at $39,201,000 after purchasing an additional 145,189 shares during the period. Royal Bank of Canada boosted its stake in shares of Gray Television by 221.6% during the second quarter. Royal Bank of Canada now owns 2,688,226 shares of the company’s stock valued at $36,828,000 after purchasing an additional 1,852,301 shares during the period. Penn Capital Management Co. Inc. boosted its stake in shares of Gray Television by 15.4% during the second quarter. Penn Capital Management Co. Inc. now owns 1,562,378 shares of the company’s stock valued at $21,554,000 after purchasing an additional 209,076 shares during the period. Finally, State Street Corp boosted its stake in shares of Gray Television by 4.8% during the second quarter. State Street Corp now owns 1,303,215 shares of the company’s stock valued at $17,855,000 after purchasing an additional 59,188 shares during the period. 83.41% of the stock is owned by hedge funds and other institutional investors.

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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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