Wall Street brokers expect Gray Television, Inc. (NYSE: GTN – Get a rating) to report earnings per share (EPS) of $0.97 for the current fiscal quarter, according to Zacks Investment Research. Two analysts have released earnings estimates for Gray Television. The lowest EPS estimate is $0.77 and the highest is $1.16. Gray Television reported earnings of $0.27 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 259.3%. The company is due to release its next quarterly earnings report on Monday, January 1.
On average, analysts expect Gray Television to report annual earnings of $5.27 per share for the current fiscal year, with EPS estimates ranging from $3.50 to $6.55. For the next fiscal year, analysts expect the company to post earnings of $3.47 per share, with EPS estimates ranging from $2.65 to $4.29. Zacks’ earnings per share calculations are an average based on a survey of research companies that track Gray Television.
Gray TV (NYSE: GTN – Get a rating) last announced its quarterly results on Friday, May 6. The company reported earnings per share (EPS) of $0.52 for the quarter, beating analyst consensus estimates of $0.37 by $0.15. Gray Television had a net margin of 4.19% and a return on equity of 6.35%. The company posted revenue of $827.00 million for the quarter, versus a consensus estimate of $805.23 million. In the same period a year earlier, the company posted earnings per share of $0.27. The company’s revenue for the quarter increased 52.0% year over year.
Several brokerages have recently published reports on GTN. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a Tuesday, May 10 research note. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “strong-buy” rating and set a target price of $22.00 for the company in a research report on Friday, May 13. Loop Capital raised its price target on Gray Television from $30.00 to $33.00 and gave the title a “buy” rating in a Monday, March 7 research report. Wells Fargo & Company raised its price target on Gray Television from $26.00 to $28.00 and gave the stock an “overweight” rating in a Monday, Feb. 28 research report. Finally, Barrington Research raised its price target on Gray Television from $25.00 to $28.00 in a Wednesday, March 2 research report.
Shares of NYSE:GTN traded at $0.09 during Thursday’s midday session, hitting $19.47. 9,805 shares of the company were traded, against an average volume of 688,939. Gray Television has a 52-week low of $18.14 and a 52-week high of $25.24. The company has a debt ratio of 3.74, a current ratio of 2.80 and a quick ratio of 2.80. The company has a market capitalization of $1.86 billion, a PE ratio of 30.38, a PEG ratio of 0.38 and a beta of 1.73. The company’s 50-day moving average price is $20.69 and its 200-day moving average price is $21.28.
The company also recently announced a quarterly dividend, which will be paid on Thursday, June 30. Investors of record on Wednesday, June 15 will receive a dividend of $0.08 per share. This represents an annualized dividend of $0.32 and a yield of 1.64%. The ex-dividend date is Tuesday, June 14. Gray Television’s dividend payout ratio is currently 50.00%.
In other news, manager Richard Lee Boger sold 4,755 shares in a trade that took place on Monday, February 28. The stock was sold at an average price of $21.16, for a total transaction of $100,615.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, accessible via this link. Additionally, director Robin Robinson Howell purchased 3,000 shares of the company in a transaction that took place on Wednesday, May 11. The shares were purchased at an average price of $19.00 per share, for a total transaction of $57,000.00. Following the acquisition, the administrator now directly owns 1,692,554 shares of the company, valued at approximately $32,158,526. Disclosure of this purchase can be found here. Insiders sold 237,428 shares of the company valued at $5,275,103 during the last quarter. Insiders of the company own 4.80% of the shares of the company.
Institutional investors have recently increased or reduced their stake in the company. Nisa Investment Advisors LLC bought a new position in Gray Television during Q1 worth approximately $26,000. Allworth Financial LP acquired a new position in shares of Gray Television in the first quarter worth approximately $28,000. Arcadia Investment Management Corp MI acquired a new position in Gray Television during the first quarter worth $36,000. UMB Bank NA MO bought a new stake in Gray Television during the first quarter worth $39,000. Finally, Prospera Financial Services Inc acquired a new stake in Gray Television during the first quarter at a value of $44,000. Institutional investors and hedge funds hold 75.11% of the company’s shares.
Gray Television Company Profile (Get a rating)
Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also carries secondary digital channels affiliated with ABC, CBS, NBC and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and FILMS! Network; and local news/weather channels in various markets.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Gray Television right now?
Before you consider Gray Television, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes hold…and Gray Television wasn’t on the list.
While Gray Television currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here