Shares of Gray Television Inc. (NYSE:GTN) have been assigned a consensus recommendation of “Buy” from the six brokerages that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation and five have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $20.67.
GTN has been the topic of several recent research reports. Zacks Investment Research upgraded shares of Gray Television from a “strong sell” rating to a “hold” rating and set a $13.00 target price on the stock in a research report on Tuesday, July 12th. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research report on Monday, September 26th.
A number of hedge funds have recently bought and sold shares of GTN. Neuberger Berman Group LLC raised its stake in Gray Television by 15.3% in the second quarter. Neuberger Berman Group LLC now owns 5,141,017 shares of the company’s stock worth $55,780,000 after buying an additional 682,000 shares during the period. Vanguard Group Inc. raised its stake in Gray Television by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,479,183 shares of the company’s stock worth $26,899,000 after buying an additional 45,272 shares during the period. Penn Capital Management Co. Inc. raised its stake in Gray Television by 21.6% in the second quarter. Penn Capital Management Co. Inc. now owns 2,198,885 shares of the company’s stock worth $23,822,000 after buying an additional 389,980 shares during the period. Victory Capital Management Inc. raised its stake in Gray Television by 8.2% in the second quarter. Victory Capital Management Inc. now owns 1,868,116 shares of the company’s stock worth $20,269,000 after buying an additional 142,053 shares during the period. Finally, Calixto Global Investors LP raised its stake in Gray Television by 137.8% in the first quarter. Calixto Global Investors LP now owns 1,851,713 shares of the company’s stock worth $21,702,000 after buying an additional 1,072,891 shares during the period. 86.54% of the stock is currently owned by institutional investors.
Shares of Gray Television (NYSE:GTN) traded up 2.52% during mid-day trading on Monday, reaching $9.75. 309,357 shares of the company’s stock traded hands. Gray Television has a 12-month low of $9.15 and a 12-month high of $17.70. The stock has a 50-day moving average price of $10.55 and a 200 day moving average price of $11.28. The firm has a market capitalization of $700.81 million, a price-to-earnings ratio of 14.57 and a beta of 2.99.
Gray Television (NYSE:GTN) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.25 EPS for the quarter, hitting the consensus estimate of $0.25. The business had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. Gray Television had a net margin of 6.98% and a return on equity of 12.58%. The business’s quarterly revenue was up 37.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.17 EPS. Analysts anticipate that Gray Television will post $1.43 EPS for the current fiscal year.