Analysts expect that Gray Television, Inc. (NYSE:GTN) will report earnings per share (EPS) of $0.26 for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gray Television’s earnings. The lowest EPS estimate is $0.25 and the highest is $0.26. Gray Television posted earnings of $0.70 per share in the same quarter last year, which would suggest a negative year over year growth rate of 62.9%. The firm is expected to issue its next quarterly earnings results on Tuesday, November 5th.

According to Zacks, analysts expect that Gray Television will report full-year earnings of $0.91 per share for the current fiscal year, with EPS estimates ranging from $0.62 to $1.41. For the next financial year, analysts expect that the company will post earnings of $3.10 per share, with EPS estimates ranging from $2.70 to $3.32. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Gray Television.

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

Several equities research analysts have weighed in on the company. Barrington Research reaffirmed a “buy” rating on shares of Gray Television in a research report on Wednesday, May 8th. TheStreet lowered Gray Television from a “b-” rating to a “c+” rating in a research report on Tuesday, June 4th. Benchmark reaffirmed a “buy” rating on shares of Gray Television in a research report on Thursday, May 9th. Zacks Investment Research lowered Gray Television from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Finally, ValuEngine raised Gray Television from a “strong sell” rating to a “sell” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $24.80.

In other Gray Television news, Chairman Hilton H. Howell, Jr. purchased 1,800 shares of the stock in a transaction dated Friday, August 9th. The shares were bought at an average cost of $14.76 per share, with a total value of $26,568.00. Following the completion of the acquisition, the chairman now owns 992,224 shares of the company’s stock, valued at $14,645,226.24. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Harriett J. Robinson purchased 7,500 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average cost of $14.87 per share, for a total transaction of $111,525.00. Following the completion of the acquisition, the insider now directly owns 1,008,467 shares of the company’s stock, valued at approximately $14,995,904.29. The disclosure for this purchase can be found here. Insiders acquired 10,600 shares of company stock worth $158,230 over the last ninety days. 10.14% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of GTN. Penserra Capital Management LLC bought a new position in Gray Television during the first quarter valued at about $35,000. Point72 Hong Kong Ltd boosted its stake in Gray Television by 134.9% during the second quarter. Point72 Hong Kong Ltd now owns 5,945 shares of the company’s stock valued at $97,000 after buying an additional 3,414 shares in the last quarter. New York State Teachers Retirement System bought a new position in Gray Television during the second quarter valued at about $115,000. Bank of Montreal Can boosted its stake in Gray Television by 3,422.7% during the second quarter. Bank of Montreal Can now owns 7,926 shares of the company’s stock valued at $130,000 after buying an additional 7,701 shares in the last quarter. Finally, Lowe Brockenbrough & Co. Inc. bought a new position in Gray Television during the second quarter valued at about $164,000. 85.79% of the stock is currently owned by institutional investors.

NYSE GTN traded up $0.15 during trading hours on Thursday, hitting $16.11. The company had a trading volume of 19,899 shares, compared to its average volume of 994,872. Gray Television has a fifty-two week low of $13.60 and a fifty-two week high of $25.31. The company has a quick ratio of 2.93, a current ratio of 2.93 and a debt-to-equity ratio of 2.89. The business has a fifty day simple moving average of $16.78 and a 200-day simple moving average of $19.04. The firm has a market cap of $1.61 billion, a P/E ratio of 6.63, a price-to-earnings-growth ratio of 1.72 and a beta of 1.98.

About Gray Television

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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