Gray Media (NYSE:GTN) Posts Quarterly Earnings Results, Beats Estimates By $0.17 EPS

Gray Media (NYSE:GTN) issued its quarterly earnings data on Friday. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17, Zacks reports. Gray Media had a net margin of 5.64% and a return on equity of 10.31%. The company had revenue of $749.00 million for the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The firm’s revenue for the quarter was down 21.2% compared to the same quarter last year. Gray Media updated its FY 2025 guidance to EPS and its Q4 2025 guidance to EPS.

Gray Media Stock Performance

Shares of NYSE GTN traded up $0.25 during trading on Friday, hitting $4.85. The company had a trading volume of 2,035,484 shares, compared to its average volume of 1,410,725. Gray Media has a 12 month low of $2.91 and a 12 month high of $6.30. The company has a debt-to-equity ratio of 2.56, a quick ratio of 0.87 and a current ratio of 0.87. The firm has a market capitalization of $494.61 million, a P/E ratio of 3.21 and a beta of 1.15. The stock has a 50 day simple moving average of $5.28 and a 200 day simple moving average of $4.83.

Gray Media Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Monday, December 15th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.32 annualized dividend and a dividend yield of 6.6%. Gray Media’s dividend payout ratio (DPR) is 21.19%.

Wall Street Analysts Forecast Growth

GTN has been the subject of a number of research reports. Weiss Ratings lowered shares of Gray Media from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Saturday, October 25th. Benchmark reaffirmed a “buy” rating and issued a $9.00 price objective (up previously from $7.00) on shares of Gray Media in a report on Monday, August 11th. Wall Street Zen raised Gray Media from a “sell” rating to a “hold” rating in a report on Saturday. Guggenheim raised their target price on Gray Media from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Finally, Wells Fargo & Company upped their price target on shares of Gray Media from $4.50 to $5.00 and gave the company an “equal weight” rating in a research report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $6.88.

Insider Activity

In related news, Director Richard Lee Boger sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $5.82, for a total value of $116,400.00. Following the completion of the sale, the director directly owned 61,343 shares of the company’s stock, valued at approximately $357,016.26. This represents a 24.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 15.22% of the company’s stock.

Hedge Funds Weigh In On Gray Media

Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC purchased a new stake in shares of Gray Media in the first quarter worth $28,000. Oxford Asset Management LLP boosted its holdings in Gray Media by 147.6% in the 2nd quarter. Oxford Asset Management LLP now owns 29,471 shares of the company’s stock worth $134,000 after buying an additional 17,566 shares during the period. State of Wyoming purchased a new stake in Gray Media in the 2nd quarter worth $139,000. Caption Management LLC bought a new stake in Gray Media during the second quarter valued at about $140,000. Finally, Cerity Partners LLC lifted its position in shares of Gray Media by 82.5% in the second quarter. Cerity Partners LLC now owns 39,124 shares of the company’s stock valued at $177,000 after acquiring an additional 17,689 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

About Gray Media

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.