Gray Television (GTN) Scheduled to Post Earnings on Tuesday

Gray Television (NYSE:GTN) will be releasing its earnings data before the market opens on Tuesday, May 7th. Analysts expect Gray Television to post earnings of $0.11 per share for the quarter. Gray Television has set its Q1 2024 guidance at EPS.Individual that are interested in participating in the company’s earnings conference call can do so using this link.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Friday, February 23rd. The company reported ($0.24) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.08). Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The firm had revenue of $864.00 million for the quarter, compared to analyst estimates of $863.31 million. During the same quarter in the prior year, the firm earned $1.88 earnings per share. The firm’s quarterly revenue was down 19.4% compared to the same quarter last year. On average, analysts expect Gray Television to post $4 EPS for the current fiscal year and $-1 EPS for the next fiscal year.

Gray Television Trading Up 4.6 %

NYSE:GTN opened at $5.87 on Tuesday. The company has a market capitalization of $570.59 million, a P/E ratio of -4.22, a P/E/G ratio of 0.15 and a beta of 1.57. The stock’s 50 day moving average price is $5.99 and its 200 day moving average price is $7.40. The company has a debt-to-equity ratio of 3.12, a quick ratio of 1.18 and a current ratio of 1.18. Gray Television has a 52 week low of $5.44 and a 52 week high of $10.69.

Gray Television Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 5.45%. The ex-dividend date of this dividend was Thursday, March 14th. Gray Television’s dividend payout ratio is -23.02%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GTN shares. Barrington Research reaffirmed a “market perform” rating on shares of Gray Television in a research note on Tuesday, February 27th. Wells Fargo & Company raised their target price on Gray Television from $6.00 to $7.00 and gave the company an “underweight” rating in a report on Friday, February 9th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.80.

Insider Transactions at Gray Television

In other news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the stock in a transaction that occurred on Thursday, March 28th. The shares were acquired at an average cost of $8.09 per share, for a total transaction of $80,900.00. Following the purchase, the chief executive officer now owns 2,982,386 shares of the company’s stock, valued at approximately $24,127,502.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.80% of the stock is owned by corporate insiders.

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, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.