Noble Financial Equities Analysts Boost Earnings Estimates for Gray Television, Inc. (NYSE:GTN)

Gray Television, Inc. (NYSE:GTN - Free Report) - Investment analysts at Noble Financial increased their Q4 2024 earnings estimates for shares of Gray Television in a note issued to investors on Wednesday, May 8th. Noble Financial analyst M. Kupinski now forecasts that the company will post earnings per share of $3.05 for the quarter, up from their previous estimate of $2.77. The consensus estimate for Gray Television's current full-year earnings is $4.21 per share.

Gray Television (NYSE:GTN - Get Free Report) last announced its quarterly earnings data on Tuesday, May 7th. The company reported $0.79 earnings per share for the quarter, beating analysts' consensus estimates of $0.54 by $0.25. The company had revenue of $823.00 million for the quarter, compared to analyst estimates of $824.98 million. Gray Television had a negative return on equity of 3.76% and a negative net margin of 2.32%. The firm's revenue for the quarter was up 2.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.48) EPS.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company boosted their target price on shares of Gray Television from $5.50 to $6.00 and gave the stock an "underweight" rating in a research report on Wednesday. Barrington Research restated a "market perform" rating on shares of Gray Television in a research report on Tuesday, February 27th. Finally, Benchmark lifted their price target on shares of Gray Television from $11.00 to $13.00 and gave the company a "buy" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $11.40.

Gray Television Price Performance

GTN stock traded up $0.38 on Thursday, reaching $7.13. 1,438,871 shares of the company's stock were exchanged, compared to its average volume of 1,135,551. The stock has a fifty day moving average of $5.96 and a 200-day moving average of $7.39. The firm has a market cap of $692.58 million, a PE ratio of -5.13, a P/E/G ratio of 0.15 and a beta of 1.55. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12. Gray Television has a twelve month low of $5.44 and a twelve month high of $10.69.

Gray Television Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were given a $0.08 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a dividend yield of 4.49%. Gray Television's dividend payout ratio is presently -23.02%.

Insider Transactions at Gray Television

In related news, CEO Hilton H. Howell, Jr. bought 10,000 shares of the stock in a transaction on Thursday, March 28th. The shares were purchased at an average price of $8.09 per share, for a total transaction of $80,900.00. Following the acquisition, the chief executive officer now owns 2,982,386 shares in the company, valued at $24,127,502.74. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 13.83% of the company's stock.

Hedge Funds Weigh In On Gray Television

Institutional investors and hedge funds have recently modified their holdings of the company. CWM LLC grew its position in Gray Television by 61.5% during the fourth quarter. CWM LLC now owns 3,017 shares of the company's stock valued at $27,000 after acquiring an additional 1,149 shares during the period. Allspring Global Investments Holdings LLC acquired a new stake in shares of Gray Television in the first quarter worth $25,000. DekaBank Deutsche Girozentrale purchased a new position in shares of Gray Television in the 3rd quarter valued at $41,000. Sonora Investment Management Group LLC purchased a new stake in Gray Television during the 3rd quarter worth $73,000. Finally, Entropy Technologies LP purchased a new position in Gray Television in the first quarter valued at about $73,000. Hedge funds and other institutional investors own 78.64% 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, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.