Gray Television Inc. (GTN) Sees Large Volume Increase
Gray Television Inc. (NYSE:GTN) saw unusually-strong trading volume on Friday . Approximately 525,792 shares traded hands during 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.
Several equities research analysts have issued reports on GTN shares. Wells Fargo & Co. restated a “buy” rating on shares of Gray Television in a report on Tuesday, May 10th. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a report on Thursday, July 28th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.75.
The stock has a market capitalization of $810.78 million and a P/E ratio of 16.86. The company has a 50-day moving average of $11.02 and a 200 day moving average of $11.56.
Gray Television (NYSE:GTN) last issued its earnings results on Thursday, August 4th. The company reported $0.25 EPS for the quarter, meeting analysts’ consensus estimates of $0.25. The firm earned $196.60 million during the quarter, compared to analysts’ expectations of $196.25 million. During the same quarter last year, the firm earned $0.17 EPS. The business’s revenue for the quarter was up 37.1% compared to the same quarter last year. Equities research analysts expect that Gray Television Inc. will post $1.63 earnings per share 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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