Wall Street Zen Downgrades Gray Media (NYSE:GTN) to Sell

Key Points

• Wall Street Zen downgraded Gray Media from hold to sell, adding to mixed analyst sentiment around the stock. Overall, MarketBeat shows a consensus rating of Hold with an average target price of $8.13.
• Gray Media’s latest earnings showed weaker-than-expected results, with Q1 EPS of -$0.34 missing estimates and revenue of $768 million slipping 1.8% year over year. The company also posted negative net margin and return on equity.
• The company announced a $0.08 quarterly dividend and closed an $80 million station transaction with Block Communications, both of which support its income profile and broadcast expansion plans.

Gray Media (NYSE:GTN - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Saturday.

A number of other analysts have also weighed in on the stock. Benchmark raised their target price on shares of Gray Media from $10.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, February 27th. Guggenheim raised their target price on shares of Gray Media from $7.00 to $8.00 and gave the company a "buy" rating in a research report on Wednesday, March 4th. Zacks Research lowered shares of Gray Media from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 4th. Weiss Ratings upgraded shares of Gray Media from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, May 1st. Finally, Barrington Research restated an "outperform" rating and issued a $6.50 target price on shares of Gray Media in a research report on Tuesday, April 28th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $8.13.

Gray Media Stock Performance

Shares of Gray Media stock opened at $4.35 on Friday. Gray Media has a fifty-two week low of $3.50 and a fifty-two week high of $6.43. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. The firm has a market capitalization of $450.92 million, a P/E ratio of -2.84 and a beta of 1.04. The company's 50 day moving average price is $5.13 and its two-hundred day moving average price is $4.86.

Gray Media (NYSE:GTN - Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts' consensus estimates of ($0.32) by ($0.02). Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.05%. The company had revenue of $768.00 million during the quarter, compared to analyst estimates of $768.05 million. During the same quarter in the prior year, the business earned ($0.23) EPS. The business's quarterly revenue was down 1.8% on a year-over-year basis. On average, equities analysts forecast that Gray Media will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Gray Media

A number of hedge funds have recently bought and sold shares of the company. Capital Management Corp VA raised its stake in Gray Media by 4.1% during the fourth quarter. Capital Management Corp VA now owns 6,149,022 shares of the company's stock worth $29,761,000 after buying an additional 242,525 shares during the last quarter. Vanguard Group Inc. increased its stake in Gray Media by 4.4% in the third quarter. Vanguard Group Inc. now owns 5,998,630 shares of the company's stock valued at $34,672,000 after purchasing an additional 251,419 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Gray Media by 23.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,188,712 shares of the company's stock valued at $25,113,000 after purchasing an additional 994,474 shares in the last quarter. Miller Value Partners LLC increased its stake in Gray Media by 12.1% in the fourth quarter. Miller Value Partners LLC now owns 3,988,495 shares of the company's stock valued at $19,304,000 after purchasing an additional 430,280 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its position in shares of Gray Media by 43.6% during the third quarter. Penn Capital Management Company LLC now owns 3,236,997 shares of the company's stock worth $18,758,000 after acquiring an additional 983,415 shares in the last quarter. Institutional investors own 78.64% of the company's stock.

Key Headlines Impacting Gray Media

Here are the key news stories impacting Gray Media this week:

• Positive Sentiment: Gray Media declared a quarterly cash dividend of $0.08 per share, which supports the stock’s income appeal and implies a roughly 7.1% annualized yield. Gray Announces Quarterly Cash Dividend of $0.08 Per Share
• Positive Sentiment: The company closed its $80 million station transaction with Block Communications, adding TV stations in Louisville, Springfield-Decatur, and Lima, which should expand Gray’s broadcast portfolio. Gray Media and Block Communications Close Station Transaction
• Neutral Sentiment: Gray updated second-quarter 2026 guidance, with revenue outlook of $780 million to $800 million versus a $794 million consensus estimate, leaving investors focused on whether upcoming results can beat expectations. Gray Media, Inc. NYSE: GTN Q1 2026 Earnings Call Transcript
• Negative Sentiment: First-quarter EPS came in at a loss of $0.34 per share, missing the $0.32 loss expected by analysts, which is a key reason the stock is under pressure. Gray Media (GTN) Reports Q1 Loss, Beats Revenue Estimates
• Negative Sentiment: Revenue of $768 million was essentially flat versus estimates and down 1.8% year over year, reinforcing concerns about slow top-line growth and weak profitability. Gray Media Announces First Quarter Financial Results

Gray Media Company Profile

Gray Media NYSE: GTN is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company's core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media's television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.

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