Gray Television Inc. (NYSE:GTN) – Research analysts at Barrington Research lowered their Q4 2016 earnings per share (EPS) estimates for Gray Television in a research report issued to clients and investors on Thursday. Barrington Research analyst J. Goss now anticipates that the firm will earn $0.74 per share for the quarter, down from their prior forecast of $0.84.
Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.25. The firm earned $196.60 million during the quarter, compared to analysts’ expectations of $196.25 million. Gray Television had a net margin of 6.98% and a return on equity of 12.58%. The business’s revenue for the quarter was up 37.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share.
A number of other brokerages also recently issued reports on GTN. Zacks Investment Research upgraded shares of Gray Television from a “strong sell” rating to a “hold” rating and set a $13.00 price objective on the stock in a research note on Tuesday, July 12th. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a research note on Monday. One investment analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $18.75.
Gray Television (NYSE:GTN) opened at 10.16 on Monday. The company’s 50-day moving average is $10.99 and its 200-day moving average is $11.43. Gray Television has a one year low of $9.15 and a one year high of $17.70. The firm has a market cap of $730.28 million, a PE ratio of 15.19 and a beta of 2.94.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Nationwide Fund Advisors boosted its position in Gray Television by 0.5% in the second quarter. Nationwide Fund Advisors now owns 88,698 shares of the company’s stock worth $962,000 after buying an additional 448 shares during the period. California State Teachers Retirement System boosted its position in Gray Television by 0.6% in the second quarter. California State Teachers Retirement System now owns 134,485 shares of the company’s stock worth $1,459,000 after buying an additional 758 shares during the period. Teacher Retirement System of Texas boosted its position in Gray Television by 18.5% in the second quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock worth $100,000 after buying an additional 1,434 shares during the period. Legal & General Group Plc boosted its position in Gray Television by 26.3% in the first quarter. Legal & General Group Plc now owns 9,143 shares of the company’s stock worth $106,000 after buying an additional 1,906 shares during the period. Finally, Quantitative Systematic Strategies LLC boosted its position in Gray Television by 21.6% in the second quarter. Quantitative Systematic Strategies LLC now owns 15,718 shares of the company’s stock worth $171,000 after buying an additional 2,792 shares during the period. 86.57% of the stock is owned by hedge funds and other 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 markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).
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