StockNews.com upgraded shares of Gray Television (NYSE:GTN – Get Rating) from a sell rating to a hold rating in a research report report published on Thursday morning.
Gray Television Trading Up 3.5 %
Shares of NYSE:GTN opened at $19.13 on Thursday. Gray Television has a 1 year low of $16.13 and a 1 year high of $25.24. The stock's fifty day moving average price is $18.71 and its 200-day moving average price is $19.84. The company has a debt-to-equity ratio of 3.64, a current ratio of 2.54 and a quick ratio of 2.54. The company has a market cap of $1.78 billion, a P/E ratio of 14.95, a PEG ratio of 0.43 and a beta of 1.66.
Get Gray Television alerts:Gray Television (NYSE:GTN – Get Rating) last released its earnings results on Friday, August 5th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.87 by $0.04. The firm had revenue of $868.00 million during the quarter, compared to analysts' expectations of $854.97 million. Gray Television had a return on equity of 9.66% and a net margin of 5.73%. The firm's revenue was up 58.7% on a year-over-year basis. During the same quarter last year, the business posted $0.27 earnings per share. Sell-side analysts expect that Gray Television will post 4.45 earnings per share for the current year.
Gray Television Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Thursday, September 15th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, September 14th. Gray Television's payout ratio is 25.00%.Institutional Trading of Gray Television
Several institutional investors have recently made changes to their positions in the stock. Nisa Investment Advisors LLC acquired a new position in Gray Television during the 1st quarter worth $26,000. Captrust Financial Advisors raised its position in shares of Gray Television by 219.5% during the second 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 period. Allworth Financial LP acquired a new position in Gray Television during the first quarter valued at $28,000. Arcadia Investment Management Corp MI acquired a new position in Gray Television during the first quarter valued at $36,000. Finally, UMB Bank N A MO purchased a new position in Gray Television in the first quarter valued at about $39,000. 80.61% of the stock is owned by hedge funds and other institutional investors.
About Gray Television
(Get Rating)
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, Justice, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.
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