Gray Media Inc. (NYSE:GTN - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $4.58 and traded as high as $4.72. Gray Media shares last traded at $4.6550, with a volume of 911,501 shares trading hands.
Analyst Upgrades and Downgrades
A number of equities analysts have weighed in on GTN shares. Weiss Ratings lowered shares of Gray Media from a "sell (d+)" rating to a "sell (d)" rating in a research report on Friday, October 9th. Zacks Research lowered shares of Gray Media from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, October 28th. Finally, Wall Street Zen upgraded shares of Gray Media from a "hold" rating to a "buy" rating in a report on Saturday, October 10th. Three investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Gray Media presently has an average rating of "Hold" and an average target price of $7.88.
View Our Latest Stock Analysis on Gray Media
Gray Media Stock Performance
The firm has a market capitalization of $479.37 million, a PE ratio of -7.63, a price-to-earnings-growth ratio of 0.09 and a beta of 1.00. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 2.73. The business's 50 day simple moving average is $4.65 and its two-hundred day simple moving average is $4.58.
Gray Media (NYSE:GTN - Get Free Report) last issued its quarterly earnings results on Friday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.29. The business had revenue of $839.00 million during the quarter, compared to analysts' expectations of $795.13 million. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%. The business's quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.71) earnings per share. Research analysts expect that Gray Media Inc. will post 2.35 earnings per share for the current fiscal year.
Gray Media Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 6.9%. The ex-dividend date was Tuesday, September 15th. Gray Media's dividend payout ratio is presently -52.46%.
Institutional Investors Weigh In On Gray Media
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers raised its holdings in Gray Media by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 69,392 shares of the company's stock valued at $301,000 after acquiring an additional 2,477 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Gray Media by 57.1% during the 1st quarter. Parallel Advisors LLC now owns 7,901 shares of the company's stock worth $34,000 after purchasing an additional 2,873 shares during the period. Royal Bank of Canada increased its position in shares of Gray Media by 60.5% during the first quarter. Royal Bank of Canada now owns 16,573 shares of the company's stock valued at $71,000 after acquiring an additional 6,247 shares during the last quarter. Legal & General Group Plc acquired a new stake in Gray Media in the 2nd quarter valued at approximately $32,000. Finally, Abel Hall LLC purchased a new stake in shares of Gray Media in the 1st quarter valued at $49,000. 78.64% of the stock is currently owned by hedge funds and other institutional investors.
Gray Media Company Profile
(
Get Free Report)
Gray Media, formerly known as Gray Television, is a multimedia company that owns and operates local television stations and related digital media properties in markets across the United States. Its stations provide local news, weather, sports, public affairs and entertainment programming, while also distributing content through websites, mobile platforms and other digital channels.
The company's broadcast portfolio includes affiliates of major networks such as ABC, CBS, NBC, FOX and The CW, as well as independent and specialty stations.
Further Reading
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