Gray Television, Inc. (NYSE:GTN) has been given a $16.00 target price by research analysts at Royal Bank Of Canada in a research report issued on Tuesday, July 18th. The firm currently has a “buy” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 18.52% from the stock’s previous close.
Separately, Benchmark Co. reissued a “buy” rating and set a $19.00 price target on shares of Gray Television in a research report on Friday, May 5th. Four research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $16.25.
Gray Television (NYSE:GTN) opened at 13.50 on Tuesday. The firm’s 50-day moving average is $14.07 and its 200-day moving average is $13.42. Gray Television has a 52-week low of $7.00 and a 52-week high of $15.45. The stock has a market cap of $971.42 million, a P/E ratio of 15.34 and a beta of 3.28.
Gray Television (NYSE:GTN) last issued its quarterly earnings results on Thursday, May 4th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.07 by $0.09. The business had revenue of $203.46 million for the quarter, compared to analysts’ expectations of $194.68 million. Gray Television had a net margin of 7.57% and a return on equity of 17.77%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.12 earnings per share. Equities research analysts predict that Gray Television will post $0.92 earnings per share for the current year.
A number of institutional investors have recently made changes to their positions in GTN. Two Sigma Investments LP bought a new position in shares of Gray Television during the fourth quarter valued at approximately $781,000. Norges Bank acquired a new position in shares of Gray Television during the fourth quarter worth about $1,302,000. Clinton Group Inc. acquired a new position in shares of Gray Television during the first quarter worth about $176,000. Skylands Capital LLC acquired a new position in shares of Gray Television during the second quarter worth about $521,000. Finally, Airain ltd raised its position in shares of Gray Television by 226.6% in the first quarter. Airain ltd now owns 53,550 shares of the company’s stock worth $776,000 after buying an additional 37,155 shares during the period. Institutional investors own 87.43% of the company’s stock.
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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