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

Shares of Gray Media Inc. (NYSE:GTN) have earned an average recommendation of “Hold” from the six ratings firms that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $7.8750.

Several brokerages have recently weighed in on GTN. Wall Street Zen cut shares of Gray Media from a “buy” rating to a “hold” rating in a research report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gray Media in a research note on Wednesday, August 12th.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Miller Value Partners LLC acquired a new position in shares of Gray Media in the 2nd quarter worth approximately $28,756,000. BlackRock Inc. purchased a new stake in Gray Media in the second quarter valued at approximately $27,789,000. Bank of New York Mellon Corp acquired a new position in Gray Media during the second quarter worth $4,603,000. DSC Meridian Capital LP acquired a new position in Gray Media during the second quarter worth $3,731,000. Finally, Invst LLC purchased a new position in shares of Gray Media during the second quarter worth $2,338,000. 78.64% of the stock is currently owned by institutional investors and hedge funds.

Gray Media Trading Down 1.0%

Gray Media stock traded down $0.05 during trading on Friday, reaching $4.58. 175,652 shares of the company were exchanged, compared to its average volume of 1,308,537. The stock’s 50 day simple moving average is $4.57 and its two-hundred day simple moving average is $4.57. The company has a market capitalization of $471.96 million, a P/E ratio of -7.50, a PEG ratio of 0.10 and a beta of 0.96. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.95 and a quick ratio of 0.95. Gray Media has a 52-week low of $3.55 and a 52-week high of $6.43.

Gray Media (NYSE:GTN) last issued its earnings results on Friday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.29. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%.The company had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $795.13 million. During the same period in the prior year, the business earned ($0.71) EPS. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Gray Media will post 2.33 earnings per share for the current fiscal year.

Gray Media Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.08 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.0%. Gray Media’s dividend payout ratio (DPR) is currently -52.46%.

Gray Media Company Profile

Gray Media, Inc (NYSE: GTN) is a media company that owns and operates local television stations and digital media properties across the United States. Its stations provide local news, weather, sports, investigative reporting and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW.

The company’s operations include television broadcasting, digital publishing, video production and related media services. Gray Media also produces and distributes original content through its local stations and other media platforms, serving audiences in a range of metropolitan and regional markets.

Founded as Gray Television in 1946, the company expanded through acquisitions and organic growth before adopting the Gray Media name.