Gray Television, Inc. (NYSE:GTN) has been given a $16.00 target price by equities researchers at Royal Bank Of Canada in a research report issued on Tuesday. The firm currently has a “buy” rating on the stock. Royal Bank Of Canada’s target price would suggest a potential upside of 12.28% from the stock’s previous close.
Separately, Benchmark Co. reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Gray Television in a report on Friday, May 5th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.25.
Shares of Gray Television (GTN) traded down 1.228% during mid-day trading on Tuesday, reaching $14.075. 257,634 shares of the company were exchanged. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 15.994 and a beta of 3.28. Gray Television has a 12 month low of $7.00 and a 12 month high of $15.45. The company’s 50-day moving average is $12.93 and its 200 day moving average is $12.83.
Gray Television (NYSE:GTN) last released its quarterly earnings data on Thursday, May 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The firm had revenue of $203.46 million during the quarter, compared to the consensus estimate of $194.68 million. Gray Television had a net margin of 7.57% and a return on equity of 17.77%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.12 earnings per share. Analysts predict that Gray Television will post $0.91 EPS for the current year.
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Several institutional investors have recently made changes to their positions in the stock. Feltz Wealth PLAN Inc. purchased a new position in shares of Gray Television during the first quarter valued at about $101,000. Acrospire Investment Management LLC increased its position in shares of Gray Television by 1,072.9% in the first quarter. Acrospire Investment Management LLC now owns 11,260 shares of the company’s stock valued at $163,000 after buying an additional 10,300 shares during the period. Clinton Group Inc. purchased a new position in shares of Gray Television during the first quarter valued at about $176,000. Legal & General Group Plc increased its position in shares of Gray Television by 3.7% in the first quarter. Legal & General Group Plc now owns 15,997 shares of the company’s stock valued at $230,000 after buying an additional 565 shares during the period. Finally, Advisory Services Network LLC purchased a new position in shares of Gray Television during the first quarter valued at about $252,000. 87.32% of the stock is owned by institutional investors.
Gray Television Company Profile
Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).
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