Equities analysts predict that Gray Television, Inc. (NYSE:GTN) will report $232.62 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Gray Television’s earnings. The highest sales estimate is $234.50 million and the lowest is $230.50 million. Gray Television reported sales of $237.62 million during the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The business is expected to announce its next quarterly earnings results on Wednesday, March 7th.

On average, analysts expect that Gray Television will report full year sales of $232.62 million for the current year, with estimates ranging from $879.50 million to $883.60 million. For the next fiscal year, analysts forecast that the business will report sales of $1.03 billion per share, with estimates ranging from $1.02 billion to $1.04 billion. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts that follow Gray Television.

Gray Television (NYSE:GTN) last released its earnings results on Monday, November 6th. The company reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.01). Gray Television had a return on equity of 10.58% and a net margin of 6.99%. The business had revenue of $219.00 million during the quarter, compared to the consensus estimate of $218.78 million. During the same quarter in the previous year, the firm earned $0.26 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year.

A number of analysts recently commented on the stock. ValuEngine downgraded shares of Gray Television from a “strong-buy” rating to a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research upgraded shares of Gray Television from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, September 21st. Jefferies Group initiated coverage on shares of Gray Television in a report on Thursday, December 14th. They set a “buy” rating and a $18.00 price target on the stock. Benchmark restated a “buy” rating and set a $21.00 price target on shares of Gray Television in a report on Tuesday, November 7th. Finally, Royal Bank of Canada restated a “buy” rating and set a $17.00 price target on shares of Gray Television in a report on Wednesday, September 27th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Gray Television has an average rating of “Buy” and an average price target of $18.43.

Shares of Gray Television (NYSE:GTN) opened at $16.70 on Wednesday. The company has a quick ratio of 3.28, a current ratio of 3.28 and a debt-to-equity ratio of 3.11. Gray Television has a fifty-two week low of $9.95 and a fifty-two week high of $17.50. The company has a market cap of $1,480.00, a P/E ratio of 9.18, a P/E/G ratio of 2.32 and a beta of 3.14.

In other news, EVP Kevin Paul Latek sold 97,634 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $16.96, for a total transaction of $1,655,872.64. Following the sale, the executive vice president now owns 219,706 shares in the company, valued at $3,726,213.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 12.00% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Arbitrage SA increased its stake in Gray Television by 4,901.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock valued at $102,000 after buying an additional 7,303 shares during the period. LSV Asset Management acquired a new position in Gray Television in the 2nd quarter valued at approximately $153,000. SG Americas Securities LLC acquired a new position in Gray Television in the 3rd quarter valued at approximately $163,000. Macquarie Group Ltd. acquired a new position in Gray Television in the 3rd quarter valued at approximately $166,000. Finally, Stifel Financial Corp acquired a new position in Gray Television in the 3rd quarter valued at approximately $175,000. Hedge funds and other institutional investors own 67.43% of the company’s stock.

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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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