Gray Television (NYSE:GTN) Price Target Raised to $30.00

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Gray Television (NYSE:GTN) had its target price raised by Barrington Research from $26.00 to $30.00 in a research report released on Monday morning, The Fly reports. The brokerage currently has an outperform rating on the stock.

A number of other research analysts have also commented on GTN. ValuEngine raised Gray Television from a sell rating to a hold rating in a report on Thursday, October 17th. Zacks Investment Research lowered Gray Television from a strong-buy rating to a hold rating in a report on Saturday, January 4th. Finally, Wells Fargo & Co initiated coverage on Gray Television in a report on Monday, September 23rd. They set an outperform rating and a $21.00 target price on the stock. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $24.60.

Shares of NYSE GTN opened at $22.44 on Monday. The company has a debt-to-equity ratio of 2.80, a current ratio of 2.70 and a quick ratio of 2.70. The stock’s fifty day moving average price is $20.97 and its two-hundred day moving average price is $17.78. Gray Television has a one year low of $13.60 and a one year high of $25.31. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 9.23, a P/E/G ratio of 0.72 and a beta of 2.10.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, November 7th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.25 by $0.21. Gray Television had a return on equity of 16.93% and a net margin of 8.56%. The firm had revenue of $517.00 million for the quarter, compared to analyst estimates of $513.80 million. During the same period in the prior year, the firm posted $0.70 EPS. The company’s revenue for the quarter was up 85.3% on a year-over-year basis. On average, equities analysts anticipate that Gray Television will post 0.95 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its holdings in shares of Gray Television by 8.5% during the 2nd quarter. BlackRock Inc. now owns 6,410,595 shares of the company’s stock worth $105,070,000 after purchasing an additional 502,687 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Gray Television by 3.4% during the 2nd quarter. Vanguard Group Inc. now owns 4,369,435 shares of the company’s stock worth $71,615,000 after purchasing an additional 144,034 shares in the last quarter. State Street Corp grew its holdings in shares of Gray Television by 2.3% during the 3rd quarter. State Street Corp now owns 1,828,218 shares of the company’s stock worth $29,837,000 after purchasing an additional 40,680 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in shares of Gray Television during the 3rd quarter worth $26,008,000. Finally, Victory Capital Management Inc. grew its holdings in shares of Gray Television by 16.0% during the 2nd quarter. Victory Capital Management Inc. now owns 1,535,228 shares of the company’s stock worth $25,162,000 after purchasing an additional 211,987 shares in the last quarter. 86.86% of the stock is currently owned by institutional investors.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Further Reading: Initial Coin Offerings entail a high degree of risk

The Fly

Analyst Recommendations for Gray Television (NYSE:GTN)

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Gray Television  Price Target Raised to $30.00
Gray Television Price Target Raised to $30.00


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