Gray Media Inc. (NYSE:GTN) Receives $7.25 Consensus Price Target from Brokerages

Shares of Gray Media Inc. (NYSE:GTN) have been given an average recommendation of “Moderate Buy” by the six analysts that are covering the company, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $7.25.

A number of analysts have commented on the company. Benchmark boosted their price objective on Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Zacks Research raised Gray Media from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 28th. Wall Street Zen downgraded Gray Media from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Finally, Wells Fargo & Company lifted their price objective on shares of Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a report on Monday, November 10th.

Gray Media Stock Performance

NYSE GTN opened at $4.36 on Thursday. The company has a fifty day simple moving average of $4.68 and a 200 day simple moving average of $5.03. Gray Media has a 12-month low of $3.13 and a 12-month high of $6.30. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. The company has a market cap of $445.11 million, a P/E ratio of 10.63 and a beta of 0.89.

Gray Media (NYSE:GTN) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.41) by $0.17. The firm had revenue of $749.00 million for the quarter, compared to the consensus estimate of $745.25 million. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The business’s revenue was down 21.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Sell-side analysts predict that Gray Media will post 3.32 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Gray Media

A number of institutional investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in shares of Gray Media during the 1st quarter worth approximately $28,000. Merit Financial Group LLC purchased a new stake in shares of Gray Media during the third quarter valued at approximately $59,000. M&T Bank Corp bought a new stake in Gray Media during the fourth quarter worth $51,000. Wealth Alliance LLC purchased a new position in Gray Media in the third quarter worth $63,000. Finally, Man Group plc bought a new position in Gray Media in the 3rd quarter valued at $71,000. 78.64% of the stock is owned by institutional investors.

About Gray Media

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.