Gray Media (NYSE:GTN) Upgraded to “Strong-Buy” at Zacks Research

Gray Media (NYSE:GTN) was upgraded by stock analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks reports.

Other equities analysts have also recently issued reports about the stock. Weiss Ratings raised shares of Gray Media from a “sell (d)” rating to a “sell (d+)” rating in a research report on Friday, September 25th. Wall Street Zen cut Gray Media from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Gray Media currently has an average rating of “Moderate Buy” and a consensus price target of $7.88.

Gray Media Trading Down 0.3%

NYSE GTN opened at $4.50 on Tuesday. The stock has a market cap of $462.90 million, a P/E ratio of -7.37, a PEG ratio of 0.09 and a beta of 0.96. The company’s fifty day simple moving average is $4.68 and its 200-day simple moving average is $4.53. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.73. Gray Media has a 52 week low of $3.55 and a 52 week high of $6.43.

Gray Media (NYSE:GTN) last released its quarterly earnings results on Friday, August 7th. The company reported $0.21 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $795.13 million. During the same period last year, the business earned ($0.71) EPS. The business’s revenue was up 8.7% on a year-over-year basis. Equities research analysts predict that Gray Media will post 2.31 EPS for the current fiscal year.

Institutional Trading of Gray Media

Several institutional investors have recently added to or reduced their stakes in GTN. Miller Value Partners LLC acquired a new position in Gray Media during the 2nd quarter valued at about $28,756,000. BlackRock Inc. acquired a new stake in shares of Gray Media in the second quarter valued at approximately $27,789,000. Bank of New York Mellon Corp acquired a new stake in shares of Gray Media in the second quarter valued at approximately $4,603,000. DSC Meridian Capital LP bought a new stake in shares of Gray Media during the second quarter valued at approximately $3,731,000. Finally, Invst LLC acquired a new position in shares of Gray Media during the second quarter worth approximately $2,338,000. Institutional investors own 78.64% of the company’s stock.

Gray Media Company Profile

Gray Media, Inc (NYSE: GTN) is a media company that owns and operates local television stations and digital media properties across the United States. Its stations provide local news, weather, sports, investigative reporting and community programming, while also carrying programming from major broadcast networks, including ABC, CBS, NBC, FOX and The CW.

The company’s operations include television broadcasting, digital publishing, video production and related media services. Gray Media also produces and distributes original content through its local stations and other media platforms, serving audiences in a range of metropolitan and regional markets.

Founded as Gray Television in 1946, the company expanded through acquisitions and organic growth before adopting the Gray Media name.