Gray Media Inc. (NYSE:GTN) Receives Consensus Rating of “Hold” from Brokerages

Gray Media Inc. (NYSE:GTN) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $7.8750.

Several brokerages have weighed in on GTN. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gray Media in a research note on Wednesday, August 12th. Guggenheim decreased their price target on Gray Media from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Barrington Research restated an “outperform” rating and set a $6.50 price objective on shares of Gray Media in a research note on Tuesday, April 28th. Finally, Wall Street Zen raised shares of Gray Media from a “hold” rating to a “buy” rating in a report on Saturday, August 15th.

Institutional Trading of Gray Media

A number of institutional investors have recently made changes to their positions in the stock. Capital Management Corp VA lifted its position in Gray Media by 4.1% in the fourth quarter. Capital Management Corp VA now owns 6,149,022 shares of the company’s stock worth $29,761,000 after purchasing an additional 242,525 shares during the period. Sei Investments Co. increased its position in shares of Gray Media by 137.4% during the 1st quarter. Sei Investments Co. now owns 461,674 shares of the company’s stock valued at $2,004,000 after purchasing an additional 267,218 shares during the period. Segall Bryant & Hamill LLC acquired a new position in shares of Gray Media during the 1st quarter valued at $1,241,000. Aristeia Capital L.L.C. bought a new stake in shares of Gray Media in the 4th quarter worth $757,000. Finally, Miller Value Partners LLC raised its stake in shares of Gray Media by 12.1% in the 4th quarter. Miller Value Partners LLC now owns 3,988,495 shares of the company’s stock worth $19,304,000 after buying an additional 430,280 shares in the last quarter. 78.64% of the stock is owned by institutional investors and hedge funds.

Gray Media Stock Performance

Shares of NYSE:GTN traded up $0.06 during trading hours on Monday, hitting $5.00. The stock had a trading volume of 86,268 shares, compared to its average volume of 1,359,122. The stock’s fifty day simple moving average is $4.20 and its 200 day simple moving average is $4.56. The firm has a market capitalization of $514.39 million, a price-to-earnings ratio of -8.22, a PEG ratio of 0.10 and a beta of 0.94. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.95 and a current ratio of 0.95. Gray Media has a 1-year low of $3.55 and a 1-year high of $6.43.

Gray Media (NYSE:GTN) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%.The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $795.13 million. During the same period in the previous year, the firm posted ($0.71) earnings per share. The business’s revenue was up 8.7% on a year-over-year basis. Sell-side analysts anticipate that Gray Media will post 2.33 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 6.4%. The ex-dividend date is Tuesday, September 15th. Gray Media’s payout ratio is -52.46%.

About Gray Media

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.