Gray Television Inc. (NYSE:GTN)’s share price traded down 1.2% during mid-day trading on Thursday . The company traded as low as $11.44 and last traded at $11.52, with a volume of 255,897 shares traded. The stock had previously closed at $11.66.

A number of equities analysts recently issued reports on the company. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a research note on Tuesday, May 24th. Zacks Investment Research upgraded Gray Television from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Monday, April 25th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $18.75.

The firm’s 50-day moving average price is $11.00 and its 200-day moving average price is $11.56. The company has a market capitalization of $825.88 million and a price-to-earnings ratio of 17.17.

Gray Television (NYSE:GTN) last posted its quarterly earnings data on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.25. The company had revenue of $196.60 million for the quarter, compared to analysts’ expectations of $196.25 million. During the same period in the prior year, the company posted $0.17 EPS. The firm’s revenue was up 37.1% compared to the same quarter last year. Equities research analysts expect that Gray Television Inc. will post $1.66 earnings per share for the current fiscal year.

Several institutional investors have recently modified their holdings of GTN. Rhumbline Advisers increased its position in shares of Gray Television by 8.0% in the fourth quarter. Rhumbline Advisers now owns 63,365 shares of the company’s stock worth $1,033,000 after buying an additional 4,700 shares during the last quarter. Stephens Inc. AR purchased a new position in shares of Gray Television during the fourth quarter worth approximately $1,243,000. Finally, California Public Employees Retirement System increased its position in shares of Gray Television by 12.6% in the fourth quarter. California Public Employees Retirement System now owns 208,500 shares of the company’s stock worth $3,399,000 after buying an additional 23,300 shares during the last quarter.

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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