Gray Media Inc. (NYSE:GTN) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Gray Media Inc. (NYSE:GTN) has earned a consensus recommendation of “Moderate Buy” from the six analysts that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is $7.25.

A number of equities research analysts have recently issued reports on the company. Zacks Research upgraded Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Wall Street Zen lowered shares of Gray Media from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Wells Fargo & Company increased their price target on shares of Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday, November 10th. Benchmark raised their price target on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new position in Gray Media during the first quarter worth about $28,000. M&T Bank Corp purchased a new position in Gray Media during the 4th quarter valued at about $51,000. Merit Financial Group LLC acquired a new stake in shares of Gray Media during the third quarter worth about $59,000. FNY Investment Advisers LLC boosted its stake in shares of Gray Media by 27.4% in the fourth quarter. FNY Investment Advisers LLC now owns 13,000 shares of the company’s stock valued at $62,000 after purchasing an additional 2,799 shares during the period. Finally, Wealth Alliance LLC purchased a new position in shares of Gray Media in the third quarter valued at approximately $63,000. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Media Stock Performance

GTN opened at $4.41 on Thursday. Gray Media has a twelve month low of $3.13 and a twelve month high of $6.30. The firm has a market capitalization of $450.22 million, a PE ratio of 10.76 and a beta of 0.89. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. The firm’s 50-day moving average price is $4.71 and its 200 day moving average price is $5.04.

Gray Media (NYSE:GTN) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The company had revenue of $749.00 million during the quarter, compared to the consensus estimate of $745.25 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Gray Media’s quarterly revenue was down 21.2% on a year-over-year basis. As a group, sell-side analysts expect that Gray Media will post 3.32 EPS for the current fiscal year.

Gray Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th were given a $0.08 dividend. The ex-dividend date was Monday, December 15th. This represents a $0.32 dividend on an annualized basis and a yield of 7.3%. Gray Media’s payout ratio is currently 78.05%.

Gray Media Company Profile

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.