Separately, Zacks Investment Research lowered Gray Television from a buy rating to a hold rating in a research report on Thursday, July 28th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $18.75.
Shares of Gray Television (NYSE:GTN) opened at 10.17 on Monday. The firm has a market cap of $731.00 million, a PE ratio of 15.20 and a beta of 2.94. Gray Television has a 12-month low of $9.15 and a 12-month high of $17.70. The firm’s 50-day moving average is $11.02 and its 200-day moving average is $11.45.
Gray Television (NYSE:GTN) last announced its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. Gray Television had a return on equity of 12.58% and a net margin of 6.98%. The company had revenue of $196.60 million for the quarter, compared to analyst estimates of $196.25 million. During the same period in the prior year, the company posted $0.17 EPS. Gray Television’s quarterly revenue was up 37.1% on a year-over-year basis. Equities analysts expect that Gray Television will post $1.43 earnings per share for the current fiscal year.
Large investors have recently bought and sold shares of the stock. Teacher Retirement System of Texas raised its stake in Gray Television by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock valued at $100,000 after buying an additional 1,434 shares in the last quarter. BlackRock Inc. raised its stake in shares of Gray Television by 43.6% in the second quarter. BlackRock Inc. now owns 9,627 shares of the company’s stock valued at $105,000 after buying an additional 2,922 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Gray Television by 26.3% in the first quarter. Legal & General Group Plc now owns 9,143 shares of the company’s stock valued at $106,000 after buying an additional 1,906 shares in the last quarter. Sei Investments Co. raised its stake in shares of Gray Television by 407.6% in the second quarter. Sei Investments Co. now owns 10,441 shares of the company’s stock valued at $113,000 after buying an additional 8,384 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Gray Television during the second quarter valued at $149,000. 86.57% of the stock is currently owned by institutional investors and hedge funds.
About Gray Television
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).
Receive News & Ratings for Gray Television Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television Inc. and related companies with MarketBeat.com's FREE daily email newsletter.