Gray Television (NYSE:GTN) Given Buy Rating at Barrington Research

Barrington Research reaffirmed their buy rating on shares of Gray Television (NYSE:GTN) in a research report sent to investors on Tuesday, August 7th. Barrington Research currently has a $19.00 target price on the stock.

“We are raising our full-year 2018 EPS estimate by $0.25 to $2.10 from $1.85.”,” the firm’s analyst wrote.

Several other analysts have also issued reports on the stock. TheStreet upgraded shares of Gray Television from a c rating to a b- rating in a research report on Tuesday, June 26th. Benchmark restated a buy rating and issued a $20.00 price target on shares of Gray Television in a research report on Thursday, May 3rd. Noble Financial restated a buy rating on shares of Gray Television in a research report on Thursday, May 10th. Gabelli restated a buy rating on shares of Gray Television in a research report on Wednesday, June 20th. Finally, Zacks Investment Research upgraded shares of Gray Television from a hold rating to a buy rating and set a $17.00 price target on the stock in a research report on Thursday, July 5th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Gray Television presently has a consensus rating of Buy and a consensus price target of $21.25.

GTN traded up $0.30 during trading on Tuesday, hitting $17.45. The stock had a trading volume of 711,300 shares, compared to its average volume of 1,105,408. The company has a market capitalization of $1.52 billion, a PE ratio of 14.74, a price-to-earnings-growth ratio of 1.48 and a beta of 2.56. Gray Television has a 12 month low of $10.70 and a 12 month high of $17.80. The company has a debt-to-equity ratio of 1.74, a current ratio of 4.69 and a quick ratio of 4.69.

Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, August 7th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $250.34 million for the quarter, compared to the consensus estimate of $252.11 million. Gray Television had a net margin of 25.99% and a return on equity of 11.89%. analysts anticipate that Gray Television will post 1.93 earnings per share for the current year.

Several institutional investors have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Gray Television by 5.9% during the 2nd quarter. BlackRock Inc. now owns 5,535,604 shares of the company’s stock valued at $87,464,000 after acquiring an additional 308,617 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Gray Television by 8.9% during the 1st quarter. Royal Bank of Canada now owns 4,284,476 shares of the company’s stock valued at $54,414,000 after acquiring an additional 350,549 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Gray Television by 142.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,018,985 shares of the company’s stock valued at $47,700,000 after acquiring an additional 1,773,153 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Gray Television by 1.6% during the 1st quarter. Victory Capital Management Inc. now owns 2,496,878 shares of the company’s stock valued at $31,711,000 after acquiring an additional 39,196 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of Gray Television by 5.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 1,718,976 shares of the company’s stock valued at $21,831,000 after acquiring an additional 90,080 shares in the last quarter. Institutional investors and hedge funds own 87.77% of the company’s stock.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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