Gray Television (GTN) to Release Quarterly Earnings on Wednesday

Gray Television (NYSE:GTN) is set to announce its earnings results before the market opens on Wednesday, November 8th. Analysts expect the company to announce earnings of ($0.27) per share for the quarter. Investors that are interested in participating in the company’s conference call can do so using this link.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Friday, August 4th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.09. The company had revenue of $813.00 million for the quarter, compared to analyst estimates of $797.17 million. Gray Television had a net margin of 7.43% and a return on equity of 13.07%. The company’s revenue was down 6.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.91 earnings per share. On average, analysts expect Gray Television to post $-1 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Gray Television Price Performance

Shares of GTN opened at $7.77 on Monday. The firm has a market capitalization of $741.72 million, a PE ratio of 3.33 and a beta of 1.68. The company’s 50-day moving average is $6.92 and its 200-day moving average is $7.65. Gray Television has a fifty-two week low of $5.97 and a fifty-two week high of $14.40. The company has a debt-to-equity ratio of 3.01, a current ratio of 1.43 and a quick ratio of 1.43.

Institutional Investors Weigh In On Gray Television

A number of large investors have recently bought and sold shares of GTN. Vanguard Group Inc. boosted its stake in shares of Gray Television by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 4,646,405 shares of the company’s stock valued at $102,546,000 after purchasing an additional 97,570 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Gray Television by 2.6% in the 1st quarter. Clearbridge Investments LLC now owns 3,328,715 shares of the company’s stock valued at $73,465,000 after purchasing an additional 84,614 shares in the last quarter. UBS Group AG boosted its stake in shares of Gray Television by 46.1% in the 1st quarter. UBS Group AG now owns 3,063,320 shares of the company’s stock valued at $26,712,000 after purchasing an additional 966,251 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Gray Television by 30.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,311,553 shares of the company’s stock valued at $51,016,000 after purchasing an additional 533,361 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in shares of Gray Television by 6.7% in the 1st quarter. New York State Common Retirement Fund now owns 2,014,826 shares of the company’s stock valued at $17,569,000 after purchasing an additional 127,288 shares in the last quarter. 77.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Benchmark reissued a “buy” rating and issued a $19.00 price objective on shares of Gray Television in a research report on Monday, August 7th. Barrington Research reaffirmed an “outperform” rating and set a $12.00 price target on shares of Gray Television in a research report on Thursday, August 10th. StockNews.com assumed coverage on shares of Gray Television in a research report on Thursday, October 5th. They set a “sell” rating on the stock. Stephens reaffirmed an “equal weight” rating and set a $12.00 price target on shares of Gray Television in a research report on Monday, August 7th. Finally, Guggenheim lowered their price target on shares of Gray Television from $15.00 to $14.00 and set a “buy” rating on the stock in a research report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $12.80.

About Gray Television

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, Circle, Antenna TV, Telemundo, and Cozi; and local news/weather channels in various markets.