FY2024 EPS Estimate for Gray Television Lifted by Analyst

Gray Television, Inc. (NYSE:GTN) – Barrington Research increased their FY2024 earnings per share (EPS) estimates for Gray Television in a research report issued to clients and investors on Tuesday, February 4th. Barrington Research analyst P. Sholl now expects that the company will earn $3.32 per share for the year, up from their previous forecast of $3.06. Barrington Research has a “Hold” rating on the stock. The consensus estimate for Gray Television’s current full-year earnings is $3.06 per share. Barrington Research also issued estimates for Gray Television’s Q4 2025 earnings at $0.07 EPS and FY2026 earnings at $3.18 EPS.

Other analysts have also recently issued research reports about the company. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Benchmark decreased their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research report on Monday, November 11th. Finally, Guggenheim decreased their target price on Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. One analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $6.67.

Gray Television Stock Up 9.1 %

NYSE GTN opened at $4.04 on Wednesday. The stock’s 50-day moving average price is $3.59 and its 200-day moving average price is $4.62. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. Gray Television has a 52 week low of $2.91 and a 52 week high of $9.20. The company has a market capitalization of $402.17 million, a P/E ratio of 2.69 and a beta of 1.40.

Gray Television (NYSE:GTN) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.08). Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The business had revenue of $950.00 million for the quarter, compared to the consensus estimate of $967.49 million. During the same period in the previous year, the company earned ($0.57) earnings per share. The company’s revenue for the quarter was up 18.3% compared to the same quarter last year.

Gray Television Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, December 13th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 7.93%. Gray Television’s payout ratio is currently 21.33%.

Insider Buying and Selling at Gray Television

In related news, EVP Kevin Paul Latek sold 150,216 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $656,443.92. Following the completion of the transaction, the executive vice president now directly owns 509,212 shares in the company, valued at approximately $2,225,256.44. This represents a 22.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 13.83% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Capital Management Corp VA raised its stake in shares of Gray Television by 27.6% in the third quarter. Capital Management Corp VA now owns 5,408,269 shares of the company’s stock valued at $28,988,000 after acquiring an additional 1,170,990 shares in the last quarter. State Street Corp grew its holdings in shares of Gray Television by 1.9% during the third quarter. State Street Corp now owns 2,009,896 shares of the company’s stock worth $10,773,000 after purchasing an additional 36,541 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Gray Television by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company’s stock worth $10,568,000 after purchasing an additional 57,481 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Gray Television by 10.1% during the fourth quarter. Bank of New York Mellon Corp now owns 970,615 shares of the company’s stock worth $3,057,000 after purchasing an additional 89,385 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Gray Television by 5.5% during the third quarter. Franklin Resources Inc. now owns 696,853 shares of the company’s stock worth $3,951,000 after buying an additional 36,312 shares during the last quarter. 78.64% of the stock is currently owned by institutional investors and hedge funds.

About Gray Television

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.