Gray Media Inc. (NYSE:GTN) Given Consensus Recommendation of “Hold” by Analysts

Shares of Gray Media Inc. (NYSE:GTN) have earned a consensus recommendation of “Hold” from the five brokerages that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $7.25.

Several research analysts have issued reports on GTN shares. Barrington Research reaffirmed an “outperform” rating and issued a $6.50 target price on shares of Gray Media in a report on Tuesday, September 23rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Gray Media in a research report on Monday. Benchmark boosted their price objective on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wall Street Zen downgraded Gray Media from a “hold” rating to a “sell” rating in a research note on Sunday, November 16th. Finally, Wells Fargo & Company lifted their target price on Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a report on Monday, November 10th.

Hedge Funds Weigh In On Gray Media

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC raised its holdings in shares of Gray Media by 292.4% during the first quarter. HighTower Advisors LLC now owns 205,016 shares of the company’s stock valued at $886,000 after purchasing an additional 152,766 shares during the last quarter. Russell Investments Group Ltd. grew its position in Gray Media by 17.7% in the 1st quarter. Russell Investments Group Ltd. now owns 496,295 shares of the company’s stock worth $2,144,000 after purchasing an additional 74,696 shares during the period. Nuveen LLC purchased a new stake in Gray Media during the 1st quarter valued at $2,876,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Gray Media by 60.0% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,956,635 shares of the company’s stock valued at $8,453,000 after buying an additional 734,085 shares during the period. Finally, Invst LLC bought a new position in shares of Gray Media during the 1st quarter valued at $2,018,000. Institutional investors own 78.64% of the company’s stock.

Gray Media Price Performance

GTN stock opened at $4.96 on Wednesday. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a 50 day moving average price of $4.82 and a 200-day moving average price of $5.07. Gray Media has a 52-week low of $2.91 and a 52-week high of $6.30. The firm has a market capitalization of $505.86 million, a price-to-earnings ratio of 12.09 and a beta of 0.89.

Gray Media (NYSE:GTN) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The company had revenue of $749.00 million during the quarter, compared to analyst estimates of $745.25 million. During the same quarter last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was down 21.2% on a year-over-year basis. Equities research analysts forecast that Gray Media will post 3.32 EPS for the current fiscal year.

Gray Media Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 6.5%. The ex-dividend date is Monday, December 15th. Gray Media’s dividend payout ratio (DPR) is presently 78.05%.

Gray Media Company Profile

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.