Gray Television, Inc. (NYSE:GTN) – Research analysts at Barrington Research raised their FY2019 earnings estimates for shares of Gray Television in a research report issued on Thursday. Barrington Research analyst J. Goss now anticipates that the company will post earnings of $1.35 per share for the year, up from their previous forecast of $1.20.

GTN has been the topic of several other research reports. Royal Bank Of Canada upped their price target on Gray Television from $16.00 to $17.00 and gave the stock an “outperform” rating in a report on Wednesday. BidaskClub downgraded Gray Television from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 6th. Benchmark Co. restated a “buy” rating and set a $19.00 price target on shares of Gray Television in a report on Friday, May 5th. Finally, Wells Fargo & Company restated an “outperform” rating and set a $18.00 price target (up previously from $15.50) on shares of Gray Television in a report on Thursday. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Gray Television presently has an average rating of “Buy” and a consensus price target of $17.00.

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Shares of Gray Television (NYSE GTN) traded up 3.16% during trading on Friday, reaching $14.70. 651,514 shares of the company’s stock traded hands. Gray Television has a 52-week low of $7.00 and a 52-week high of $15.45. The company’s 50-day moving average is $14.12 and its 200 day moving average is $13.53. The company has a market cap of $1.05 billion, a price-to-earnings ratio of 9.14 and a beta of 3.28.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Tuesday, August 8th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 13.38% and a return on equity of 17.32%. The firm had revenue of $226.70 million during the quarter, compared to analysts’ expectations of $221.05 million. During the same period in the prior year, the company posted $0.24 EPS. The company’s revenue was up 15.3% on a year-over-year basis.

Large investors have recently modified their holdings of the company. Norges Bank bought a new stake in shares of Gray Television during the fourth quarter valued at $1,302,000. Skylands Capital LLC acquired a new position in Gray Television during the second quarter worth approximately $521,000. Clinton Group Inc. acquired a new position in Gray Television during the first quarter worth approximately $176,000. Airain ltd increased its position in Gray Television by 226.6% in the first quarter. Airain ltd now owns 53,550 shares of the company’s stock worth $776,000 after buying an additional 37,155 shares during the last quarter. Finally, American International Group Inc. increased its position in Gray Television by 7.1% in the first quarter. American International Group Inc. now owns 39,493 shares of the company’s stock worth $573,000 after buying an additional 2,613 shares during the last quarter. Institutional investors own 87.34% of the company’s stock.

About Gray Television

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

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

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