Gray Television Inc. (NYSE:GTN) shares saw unusually-strong trading volume on Friday . Approximately 525,792 shares changed hands during mid-day trading, a decline of 5% from the previous session’s volume of 550,855 shares.The stock last traded at $11.30 and had previously closed at $11.24.

A number of analysts have recently issued reports on GTN shares. Zacks Investment Research downgraded shares of Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. Wells Fargo & Co. reiterated a “buy” rating on shares of Gray Television in a report on Tuesday, May 24th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $18.75.

The firm has a 50-day moving average price of $11.02 and a 200 day moving average price of $11.56. The stock has a market cap of $810.78 million and a price-to-earnings ratio of 16.86.

Gray Television (NYSE:GTN) last released its earnings results on Thursday, August 4th. The company reported $0.25 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.25. During the same period in the prior year, the company posted $0.17 EPS. The firm had revenue of $196.60 million for the quarter, compared to analyst estimates of $196.25 million. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. Analysts anticipate that Gray Television Inc. will post $1.63 EPS for the current year.

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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