Gray Television (NYSE:GTN) Stock Rating Lowered by ValuEngine

Gray Television (NYSE:GTN) was downgraded by ValuEngine from a “hold” rating to a “sell” rating in a report released on Thursday, ValuEngine reports.

A number of other equities analysts also recently weighed in on GTN. Zacks Investment Research upgraded Gray Television from a “sell” rating to a “hold” rating in a report on Thursday, July 25th. TheStreet downgraded Gray Television from a “b-” rating to a “c+” rating in a report on Tuesday, June 4th. Barrington Research reiterated a “buy” rating on shares of Gray Television in a report on Wednesday, May 8th. Finally, Benchmark reiterated a “buy” rating on shares of Gray Television in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $24.80.

Shares of GTN traded down $0.56 during trading hours on Thursday, reaching $17.08. The company’s stock had a trading volume of 1,072,400 shares, compared to its average volume of 835,027. The company has a market cap of $1.73 billion, a price-to-earnings ratio of 7.03, a price-to-earnings-growth ratio of 1.95 and a beta of 1.98. Gray Television has a 1-year low of $13.75 and a 1-year high of $25.31. The company has a current ratio of 2.51, a quick ratio of 2.51 and a debt-to-equity ratio of 0.05. The firm has a 50 day moving average of $17.21.

Gray Television (NYSE:GTN) last issued its earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.13. The company had revenue of $518.00 million for the quarter, compared to the consensus estimate of $498.41 million. Gray Television had a return on equity of 20.34% and a net margin of 12.56%. The firm’s quarterly revenue was up 129.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.22 EPS. Equities research analysts anticipate that Gray Television will post 0.91 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Penserra Capital Management LLC acquired a new position in Gray Television in the first quarter worth approximately $35,000. New York State Teachers Retirement System acquired a new position in Gray Television in the second quarter worth approximately $115,000. Great West Life Assurance Co. Can increased its holdings in Gray Television by 38.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 10,961 shares of the company’s stock worth $156,000 after buying an additional 3,061 shares during the last quarter. Welch Group LLC acquired a new position in Gray Television in the first quarter worth approximately $214,000. Finally, Legal & General Group Plc increased its holdings in Gray Television by 15.8% in the fourth quarter. Legal & General Group Plc now owns 14,608 shares of the company’s stock worth $216,000 after buying an additional 1,998 shares during the last quarter. Hedge funds and other institutional investors own 85.05% 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 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.

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Analyst Recommendations for Gray Television (NYSE:GTN)

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