Q2 EPS Estimates for Gray Television Lowered by Analyst

Gray Television, Inc. (NYSE:GTN - Free Report) - Research analysts at Barrington Research dropped their Q2 2026 earnings estimates for Gray Television in a report issued on Wednesday, April 30th. Barrington Research analyst P. Sholl now expects that the company will post earnings per share of $0.66 for the quarter, down from their prior forecast of $0.71. The consensus estimate for Gray Television's current full-year earnings is $3.32 per share. Barrington Research also issued estimates for Gray Television's Q3 2026 earnings at $0.71 EPS and Q4 2026 earnings at $1.72 EPS.

Gray Television (NYSE:GTN - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported $1.59 EPS for the quarter, meeting the consensus estimate of $1.59. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.04 billion.

Several other brokerages have also recently weighed in on GTN. Guggenheim decreased their price objective on shares of Gray Television from $8.00 to $7.00 and set a "buy" rating on the stock in a research note on Monday, March 10th. Wells Fargo & Company upgraded Gray Television from an "underweight" rating to an "equal weight" rating and set a $4.00 price target on the stock in a research report on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $6.33.

Gray Television Price Performance

Shares of NYSE:GTN traded up $0.37 on Friday, hitting $3.71. The stock had a trading volume of 1,749,109 shares, compared to its average volume of 1,425,933. The company has a market capitalization of $376.72 million, a price-to-earnings ratio of 2.47 and a beta of 1.15. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13. The firm's 50 day moving average price is $3.87 and its 200-day moving average price is $4.03. Gray Television has a twelve month low of $2.91 and a twelve month high of $7.41.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Miller Value Partners LLC raised its stake in shares of Gray Television by 132.1% during the fourth quarter. Miller Value Partners LLC now owns 3,384,450 shares of the company's stock worth $10,661,000 after buying an additional 1,926,330 shares during the last quarter. Millennium Management LLC raised its position in shares of Gray Television by 903.0% during the 4th quarter. Millennium Management LLC now owns 719,201 shares of the company's stock valued at $2,265,000 after acquiring an additional 808,764 shares during the last quarter. Norges Bank acquired a new position in shares of Gray Television in the 4th quarter valued at $2,170,000. Marshall Wace LLP boosted its position in shares of Gray Television by 52.6% in the 4th quarter. Marshall Wace LLP now owns 1,161,862 shares of the company's stock worth $3,660,000 after purchasing an additional 400,274 shares during the last quarter. Finally, ExodusPoint Capital Management LP acquired a new stake in shares of Gray Television during the fourth quarter worth $1,261,000. Institutional investors own 78.64% of the company's stock.

Insider Activity at Gray Television

In related news, Director Richard Lee Boger sold 16,000 shares of Gray Television stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $3.85, for a total value of $61,600.00. Following the completion of the sale, the director now directly owns 55,347 shares in the company, valued at $213,085.95. This trade represents a 22.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.22% of the stock is currently owned by company insiders.

Gray Television Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Friday, March 14th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 8.63%. Gray Television's dividend payout ratio (DPR) is currently 9.61%.

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, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.