Gray Television, Inc. (NYSE:GTN) – Analysts at Barrington Research decreased their Q3 2019 earnings per share (EPS) estimates for shares of Gray Television in a report issued on Monday, August 12th. Barrington Research analyst J. Goss now anticipates that the company will earn $0.26 per share for the quarter, down from their previous estimate of $0.31. Barrington Research currently has a “Buy” rating on the stock. Barrington Research also issued estimates for Gray Television’s Q4 2019 earnings at $0.44 EPS, FY2019 earnings at $0.70 EPS, Q1 2020 earnings at $0.16 EPS, Q2 2020 earnings at $0.58 EPS, Q3 2020 earnings at $0.69 EPS, Q4 2020 earnings at $1.27 EPS and FY2020 earnings at $2.70 EPS.

Other equities analysts also recently issued reports about the company. ValuEngine downgraded Gray Television from a “sell” rating to a “strong sell” rating in a research report on Saturday, August 10th. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. TheStreet downgraded Gray Television from a “b-” rating to a “c+” rating in a research report on Tuesday, June 4th. Finally, Benchmark reaffirmed a “buy” rating on shares of Gray Television in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $24.80.

Shares of GTN stock opened at $14.63 on Wednesday. The business’s fifty day simple moving average is $16.89 and its 200-day simple moving average is $19.12. The company has a market cap of $1.45 billion, a PE ratio of 6.02, a PEG ratio of 1.62 and a beta of 1.98. The company has a current ratio of 2.93, a quick ratio of 2.93 and a debt-to-equity ratio of 2.89. Gray Television has a 12-month low of $13.60 and a 12-month high of $25.31.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.03. The business had revenue of $508.00 million for the quarter, compared to the consensus estimate of $508.79 million. Gray Television had a return on equity of 19.25% and a net margin of 10.78%. The business’s quarterly revenue was up 103.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 earnings per share.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Calamos Advisors LLC increased its position in shares of Gray Television by 1.4% in the 1st quarter. Calamos Advisors LLC now owns 36,500 shares of the company’s stock valued at $780,000 after acquiring an additional 500 shares during the period. Rhumbline Advisers increased its position in shares of Gray Television by 0.5% in the 1st quarter. Rhumbline Advisers now owns 116,114 shares of the company’s stock valued at $2,480,000 after acquiring an additional 550 shares during the period. Aperio Group LLC increased its position in shares of Gray Television by 6.5% in the 2nd quarter. Aperio Group LLC now owns 17,116 shares of the company’s stock valued at $281,000 after acquiring an additional 1,043 shares during the period. Penserra Capital Management LLC acquired a new position in shares of Gray Television in the 1st quarter valued at $35,000. Finally, Legal & General Group Plc boosted its holdings in Gray Television by 15.8% in the fourth quarter. Legal & General Group Plc now owns 14,608 shares of the company’s stock valued at $216,000 after purchasing an additional 1,998 shares during the last quarter. 85.21% of the stock is currently owned by hedge funds and other institutional investors.

In other news, major shareholder Harriett J. Robinson bought 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were purchased at an average cost of $14.87 per share, with a total value of $111,525.00. Following the transaction, the insider now directly owns 1,008,467 shares in the company, valued at $14,995,904.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Hilton H. Howell, Jr. bought 1,800 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was purchased at an average cost of $14.76 per share, for a total transaction of $26,568.00. Following the completion of the transaction, the chairman now owns 992,224 shares in the company, valued at $14,645,226.24. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 10,600 shares of company stock worth $158,230. 10.14% of the stock is owned by insiders.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Earnings History and Estimates for Gray Television (NYSE:GTN)

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