Equities analysts expect that Gray Television, Inc. (NYSE:GTN) will post earnings per share (EPS) of $0.29 for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Gray Television’s earnings, with the lowest EPS estimate coming in at $0.27 and the highest estimate coming in at $0.31. Gray Television posted earnings per share of $0.49 in the same quarter last year, which suggests a negative year over year growth rate of 40.8%. The company is scheduled to issue its next earnings results on Wednesday, March 7th.

On average, analysts expect that Gray Television will report full year earnings of $1.63 per share for the current year, with EPS estimates ranging from $1.60 to $1.66. For the next year, analysts expect that the firm will report earnings of $1.73 per share, with EPS estimates ranging from $1.60 to $1.88. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow Gray Television.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Monday, November 6th. The company reported $0.21 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.01). Gray Television had a net margin of 14.91% and a return on equity of 15.53%. The company had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $218.78 million. During the same quarter in the prior year, the business posted $0.26 earnings per share. The company’s revenue was up 7.1% compared to the same quarter last year.

A number of brokerages have recently issued reports on GTN. Zacks Investment Research downgraded Gray Television from a “buy” rating to a “hold” rating in a report on Wednesday, October 11th. Guggenheim began coverage on Gray Television in a report on Wednesday, October 18th. They issued a “buy” rating and a $20.00 price target on the stock. BidaskClub upgraded Gray Television from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. Benchmark Co. reiterated a “buy” rating and issued a $21.00 price target on shares of Gray Television in a report on Tuesday. Finally, ValuEngine upgraded Gray Television from a “buy” rating to a “strong-buy” rating in a report on Thursday, September 21st. Seven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Gray Television currently has a consensus rating of “Buy” and an average target price of $18.50.

Several institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC boosted its position in shares of Gray Television by 1.3% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 31,340 shares of the company’s stock worth $429,000 after purchasing an additional 399 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Gray Television by 0.8% in the 2nd quarter. Sterling Capital Management LLC now owns 58,513 shares of the company’s stock worth $802,000 after purchasing an additional 440 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Gray Television by 3.2% in the 2nd quarter. Legal & General Group Plc now owns 16,502 shares of the company’s stock worth $226,000 after purchasing an additional 505 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Gray Television by 0.7% in the 2nd quarter. Rhumbline Advisers now owns 75,994 shares of the company’s stock worth $1,041,000 after purchasing an additional 535 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Gray Television by 0.4% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 373,754 shares of the company’s stock worth $5,120,000 after purchasing an additional 1,623 shares in the last quarter. 81.48% of the stock is owned by hedge funds and other institutional investors.

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Gray Television (NYSE:GTN) opened at $15.00 on Thursday. Gray Television has a fifty-two week low of $7.00 and a fifty-two week high of $16.70. The stock has a market capitalization of $1,096.28, a price-to-earnings ratio of 13.25, a PEG ratio of 1.42 and a beta of 3.22. The company has a debt-to-equity ratio of 3.11, a current ratio of 3.28 and a quick ratio of 3.32.

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).

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

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