Wall Street analysts expect Gray Television, Inc. (NYSE:GTN) to announce earnings per share of $0.23 for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Gray Television’s earnings. The highest EPS estimate is $0.24 and the lowest is $0.21. Gray Television posted earnings per share of $0.26 during the same quarter last year, which would indicate a negative year-over-year growth rate of 11.5%. The business is scheduled to report its next quarterly earnings report on Tuesday, November 14th.
On average, analysts expect that Gray Television will report full-year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.60 to $1.66. For the next financial year, analysts anticipate that the company will report earnings of $1.75 per share, with EPS estimates ranging from $1.70 to $1.80. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Gray Television.
Gray Television (NYSE:GTN) last announced its earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The company had revenue of $226.70 million during the quarter, compared to the consensus estimate of $221.05 million. During the same period in the previous year, the firm posted $0.24 earnings per share. The company’s revenue was up 15.3% on a year-over-year basis.
A number of analysts have recently weighed in on GTN shares. Royal Bank Of Canada set a $16.00 price objective on Gray Television and gave the company a “buy” rating in a research note on Tuesday, July 18th. Benchmark Co. reissued a “buy” rating and set a $19.00 price objective on shares of Gray Television in a research note on Monday, May 15th. BidaskClub lowered Gray Television from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 6th. Finally, Wells Fargo & Company reissued an “outperform” rating and set a $18.00 price objective (up previously from $15.50) on shares of Gray Television in a research note on Thursday, August 10th. Five research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $17.00.
Several hedge funds have recently added to or reduced their stakes in GTN. BNP Paribas Arbitrage SA increased its position in shares of Gray Television by 4,901.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,452 shares of the company’s stock worth $102,000 after buying an additional 7,303 shares in the last quarter. LSV Asset Management acquired a new position in shares of Gray Television during the second quarter worth approximately $153,000. 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 worth $163,000 after buying an additional 10,300 shares in the last quarter. Clinton Group Inc. acquired a new position in shares of Gray Television during the first quarter worth approximately $176,000. Finally, Pacad Investment Ltd. increased its position in shares of Gray Television by 24.3% in the second quarter. Pacad Investment Ltd. now owns 13,800 shares of the company’s stock worth $189,000 after buying an additional 2,700 shares in the last quarter. 86.08% of the stock is owned by hedge funds and other institutional investors.
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Shares of Gray Television (GTN) traded up 0.35% during trading on Friday, hitting $14.35. 150,713 shares of the company’s stock were exchanged. The stock has a market cap of $1.03 billion, a PE ratio of 8.92 and a beta of 3.28. Gray Television has a 1-year low of $7.00 and a 1-year high of $15.45. The stock’s 50-day moving average price is $14.29 and its 200-day moving average price is $13.72.
About Gray Television
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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