Gray Television, Inc. (NYSE:GTN – Get Free Report)’s share price traded down 6.8% during mid-day trading on Monday . The stock traded as low as $8.69 and last traded at $8.70. 191,979 shares changed hands during trading, a decline of 71% from the average session volume of 673,136 shares. The stock had previously closed at $9.33.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company cut their target price on shares of Gray Television from $7.00 to $6.00 and set an “underweight” rating on the stock in a research note on Thursday, November 9th. TheStreet lowered shares of Gray Television from a “c” rating to a “d+” rating in a research note on Friday, November 10th. Finally, StockNews.com upgraded shares of Gray Television to a “sell” rating in a research note on Thursday, December 14th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $12.60.
Gray Television Trading Down 3.6 %
The firm has a market capitalization of $858.19 million, a price-to-earnings ratio of 11.85, a price-to-earnings-growth ratio of 0.23 and a beta of 1.70. The firm’s 50 day moving average is $8.83 and its 200 day moving average is $8.03. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 3.08.
Gray Television (NYSE:GTN – Get Free Report) last released its earnings results on Wednesday, November 8th. The company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.26). The business had revenue of $803.00 million for the quarter, compared to analyst estimates of $798.46 million. Gray Television had a net margin of 3.41% and a return on equity of 5.78%. The firm’s revenue for the quarter was down 11.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.03 earnings per share. Equities analysts forecast that Gray Television, Inc. will post -1.37 earnings per share for the current year.
Gray Television Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a $0.08 dividend. The ex-dividend date was Thursday, December 14th. This represents a $0.32 annualized dividend and a dividend yield of 3.56%. Gray Television’s dividend payout ratio (DPR) is presently 43.84%.
Institutional Inflows and Outflows
Large investors have recently added to or reduced their stakes in the stock. Captrust Financial Advisors increased its stake in shares of Gray Television by 219.5% during the 2nd quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $26,000 after purchasing an additional 1,069 shares during the last quarter. CWM LLC increased its stake in shares of Gray Television by 61.5% during the 4th quarter. CWM LLC now owns 3,017 shares of the company’s stock worth $27,000 after purchasing an additional 1,149 shares during the last quarter. DekaBank Deutsche Girozentrale acquired a new position in Gray Television in the 3rd quarter valued at $41,000. Quarry LP grew its stake in Gray Television by 460.6% in the 1st quarter. Quarry LP now owns 5,432 shares of the company’s stock valued at $47,000 after buying an additional 4,463 shares during the last quarter. Finally, Comerica Bank acquired a new position in Gray Television in the 3rd quarter valued at $68,000. Institutional investors and hedge funds own 77.01% of the company’s stock.
Gray Television Company Profile
Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Antenna TV, Telemundo, and Cozi; and local news/weather channels in various markets.