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

Gray Media Inc. (NYSE:GTN) has earned an average recommendation of “Hold” from the six ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $8.1250.

A number of equities analysts recently weighed in on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research report on Monday, December 29th. Zacks Research downgraded Gray Media from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 4th. Wells Fargo & Company upped their price objective on shares of Gray Media from $5.50 to $6.00 and gave the company an “equal weight” rating in a research note on Monday, March 2nd. Barrington Research reiterated an “outperform” rating and issued a $6.50 target price on shares of Gray Media in a report on Tuesday, March 3rd. Finally, Guggenheim lifted their target price on shares of Gray Media from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Wednesday, March 4th.

Institutional Trading of Gray Media

A number of hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. boosted its position in shares of Gray Media by 55.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,878,508 shares of the company’s stock worth $13,932,000 after buying an additional 1,025,133 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Gray Media by 23.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,188,712 shares of the company’s stock valued at $25,113,000 after buying an additional 994,474 shares in the last quarter. Penn Capital Management Company LLC raised its position in Gray Media by 43.6% during the third quarter. Penn Capital Management Company LLC now owns 3,236,997 shares of the company’s stock valued at $18,758,000 after buying an additional 983,415 shares during the period. DSC Meridian Capital LP acquired a new position in Gray Media during the third quarter valued at $5,432,000. Finally, AQR Capital Management LLC lifted its stake in Gray Media by 76.6% in the 2nd quarter. AQR Capital Management LLC now owns 1,361,807 shares of the company’s stock worth $6,169,000 after acquiring an additional 590,704 shares in the last quarter. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Media Trading Up 4.5%

Gray Media stock opened at $6.18 on Tuesday. The firm has a market cap of $640.84 million, a price-to-earnings ratio of -4.35 and a beta of 0.90. Gray Media has a 1 year low of $3.13 and a 1 year high of $6.30. The firm’s 50 day moving average price is $4.95 and its two-hundred day moving average price is $4.82. The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27.

Gray Media (NYSE:GTN) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. The company had revenue of $792.00 million during the quarter, compared to the consensus estimate of $780.50 million. Gray Media had a negative return on equity of 2.51% and a negative net margin of 2.75%.The company’s quarterly revenue was down 24.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.59 EPS. On average, research analysts predict that Gray Media will post 2.58 EPS for the current fiscal year.

Gray Media Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Friday, March 13th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 5.2%. The ex-dividend date was Friday, March 13th. Gray Media’s payout ratio is presently -22.54%.

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.