Gray Television (NYSE:GTN) Upgraded to Hold at ValuEngine

ValuEngine upgraded shares of Gray Television (NYSE:GTN) from a sell rating to a hold rating in a report published on Thursday, ValuEngine reports.

Several other research analysts have also recently weighed in on the stock. Benchmark restated a buy rating on shares of Gray Television in a report on Thursday, May 9th. TheStreet cut shares of TIM Participacoes from a b rating to a c+ rating in a report on Tuesday, June 4th. Barrington Research set a $22.00 target price on shares of The Hackett Group and gave the company a buy rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of ExlService from a hold rating to a sell rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company currently has an average rating of Buy and an average target price of $24.80.

Gray Television stock traded up $0.26 during midday trading on Thursday, hitting $18.66. 17,053 shares of the stock were exchanged, compared to its average volume of 969,250. Gray Television has a 52-week low of $13.75 and a 52-week high of $25.31. The company has a market capitalization of $1.87 billion, a PE ratio of 7.68, a price-to-earnings-growth ratio of 1.95 and a beta of 1.99. The stock’s 50-day simple moving average is $16.94. The company has a quick ratio of 2.51, a current ratio of 2.51 and a debt-to-equity ratio of 0.05.

Gray Television (NYSE:GTN) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.31) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.13. Gray Television had a net margin of 12.56% and a return on equity of 20.34%. The business had revenue of $518.00 million for the quarter, compared to analysts’ expectations of $498.41 million. During the same period in the previous year, the company earned $0.22 earnings per share. The firm’s revenue for the quarter was up 129.2% compared to the same quarter last year. As a group, analysts predict that Gray Television will post 0.91 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Penserra Capital Management LLC purchased a new position in Gray Television in the first quarter valued at about $35,000. Global Retirement Partners LLC boosted its stake in Gray Television by 342.4% in the fourth quarter. Global Retirement Partners LLC now owns 1,783 shares of the company’s stock valued at $26,000 after acquiring an additional 1,380 shares during the last quarter. NumerixS Investment Technologies Inc purchased a new position in Gray Television in the fourth quarter valued at about $110,000. Welch Group LLC bought a new stake in shares of Gray Television in the first quarter valued at approximately $214,000. Finally, SG Americas Securities LLC bought a new stake in shares of Gray Television in the first quarter valued at approximately $220,000. Hedge funds and other institutional investors own 83.89% of the company’s stock.

About Gray Television

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

Further Reading: Stochastic Momentum Index (SMI)

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Gray Television (NYSE:GTN)

Receive News & Ratings for Gray Television Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Television and related companies with's FREE daily email newsletter.