Gray Television (GTN) Scheduled to Post Quarterly Earnings on Friday

Gray Television (NYSE:GTNGet Rating) is set to post its quarterly earnings results before the market opens on Friday, May 6th. Analysts expect Gray Television to post earnings of $0.25 per share for the quarter. Gray Television has set its Q1 2022 guidance at EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

Gray Television (NYSE:GTNGet Rating) last released its quarterly earnings data on Friday, February 25th. The company reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.28. Gray Television had a return on equity of 5.08% and a net margin of 3.73%. The company had revenue of $721.00 million for the quarter, compared to the consensus estimate of $687.25 million. During the same quarter last year, the business posted $2.22 EPS. Gray Television’s revenue for the quarter was down 9.0% on a year-over-year basis. On average, analysts expect Gray Television to post $4 EPS for the current fiscal year and $2 EPS for the next fiscal year.

NYSE GTN opened at $18.92 on Friday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 48.51, a price-to-earnings-growth ratio of 0.46 and a beta of 1.73. Gray Television has a twelve month low of $18.31 and a twelve month high of $25.24. The business’s fifty day moving average is $21.94 and its 200 day moving average is $21.81. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 3.84.

The business also recently announced a quarterly dividend, which was paid on Thursday, March 31st. Shareholders of record on Tuesday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Monday, March 14th. Gray Television’s payout ratio is presently 82.05%.

In other news, COO Robert Lawrence Smith sold 44,300 shares of the business’s stock in a transaction that occurred on Tuesday, March 1st. The stock was sold at an average price of $23.82, for a total value of $1,055,226.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Lee Boger sold 4,755 shares of the business’s stock in a transaction that occurred on Monday, February 28th. The stock was sold at an average price of $21.16, for a total value of $100,615.80. The disclosure for this sale can be found here. Insiders have sold a total of 209,055 shares of company stock valued at $4,705,642 over the last three months. Corporate insiders own 4.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in GTN. Norges Bank bought a new position in Gray Television during the fourth quarter valued at $17,700,000. Goldman Sachs Group Inc. boosted its holdings in shares of Gray Television by 20.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,778,192 shares of the company’s stock worth $35,849,000 after acquiring an additional 305,712 shares during the period. Sei Investments Co. bought a new position in shares of Gray Television in the fourth quarter worth $3,786,000. Invesco Ltd. boosted its holdings in shares of Gray Television by 116.2% in the fourth quarter. Invesco Ltd. now owns 162,456 shares of the company’s stock worth $3,275,000 after acquiring an additional 87,308 shares during the period. Finally, Weiss Multi Strategy Advisers LLC boosted its holdings in shares of Gray Television by 49.8% in the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 125,422 shares of the company’s stock worth $2,529,000 after acquiring an additional 41,690 shares during the period. 75.58% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the company. StockNews.com started coverage on Gray Television in a research report on Thursday, March 31st. They issued a “sell” rating for the company. Loop Capital boosted their target price on Gray Television from $30.00 to $33.00 and gave the company a “buy” rating in a research report on Monday, March 7th. Barrington Research boosted their target price on Gray Television from $25.00 to $28.00 in a research report on Wednesday, March 2nd. Zacks Investment Research raised Gray Television from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a report on Monday, March 7th. Finally, Wells Fargo & Company boosted their price objective on Gray Television from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, February 28th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $28.75.

Gray Television Company Profile (Get Rating)

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to 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 MOVIES! Network; and local news/weather channels in various markets.

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Earnings History for Gray Television (NYSE:GTN)

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