Noble Financial Analysts Increase Earnings Estimates for Gray Television, Inc. (NYSE:GTN)

Gray Television, Inc. (NYSE:GTN) – Analysts at Noble Financial boosted their Q4 2024 earnings per share (EPS) estimates for shares of Gray Television in a research report issued on Wednesday, May 8th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings of $3.05 per share for the quarter, up from their previous estimate of $2.77. The consensus estimate for Gray Television’s current full-year earnings is $4.21 per share.

Several other equities research analysts also recently weighed in on GTN. Benchmark increased their price target on Gray Television from $11.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday. Barrington Research reiterated a “market perform” rating on shares of Gray Television in a research report on Tuesday, February 27th. Finally, Wells Fargo & Company upped their price objective on Gray Television from $5.50 to $6.00 and gave the stock an “underweight” rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Gray Television presently has a consensus rating of “Hold” and an average target price of $11.40.

Gray Television Trading Up 0.6 %

Shares of Gray Television stock opened at $6.74 on Thursday. The stock has a market cap of $655.15 million, a PE ratio of -4.85, a price-to-earnings-growth ratio of 0.15 and a beta of 1.55. The firm has a fifty day moving average price of $5.94 and a 200 day moving average price of $7.39. Gray Television has a 1 year low of $5.44 and a 1 year high of $10.69. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18.

Gray Television (NYSE:GTN) last issued its earnings results on Tuesday, May 7th. The company reported $0.79 EPS for the quarter, beating analysts’ consensus estimates of $0.54 by $0.25. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The firm had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. During the same quarter in the prior year, the firm earned ($0.48) earnings per share. Gray Television’s revenue for the quarter was up 2.7% on a year-over-year basis.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were given a dividend of $0.08 per share. The ex-dividend date was Thursday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 4.75%. Gray Television’s dividend payout ratio is currently -23.02%.

Insiders Place Their Bets

In other Gray Television news, CEO Hilton H. Howell, Jr. acquired 10,000 shares of the business’s stock in a transaction dated Thursday, March 28th. The stock was acquired at an average cost of $8.09 per share, for a total transaction of $80,900.00. Following the completion of the transaction, the chief executive officer now directly owns 2,982,386 shares of the company’s stock, valued at $24,127,502.74. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 13.83% of the stock is currently owned by company insiders.

Institutional Trading of Gray Television

A number of institutional investors and hedge funds have recently modified their holdings of GTN. CWM LLC boosted its holdings in Gray Television by 61.5% in the 4th quarter. CWM LLC now owns 3,017 shares of the company’s stock worth $27,000 after buying an additional 1,149 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of Gray Television in the first quarter valued at approximately $25,000. DekaBank Deutsche Girozentrale acquired a new stake in shares of Gray Television in the third quarter worth approximately $41,000. Sonora Investment Management Group LLC purchased a new stake in shares of Gray Television during the third quarter worth approximately $73,000. Finally, Entropy Technologies LP purchased a new stake in shares of Gray Television during the first quarter worth approximately $73,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

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.