Barrington Research Weighs in on Gray Television Q4 Earnings

Gray Television, Inc. (NYSE:GTN - Free Report) - Investment analysts at Barrington Research upped their Q4 2024 earnings estimates for Gray Television in a report released on Tuesday, February 4th. Barrington Research analyst P. Sholl now forecasts that the company will post earnings of $1.59 per share for the quarter, up from their prior forecast of $1.32. Barrington Research currently has a "Hold" rating on the stock. 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 Q1 2025 earnings at ($0.30) EPS, Q2 2025 earnings at ($0.01) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at ($0.28) EPS and FY2027 earnings at $0.48 EPS.

Gray Television (NYSE:GTN - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.86 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $967.49 million. During the same quarter last year, the firm posted ($0.57) earnings per share. The company's revenue was up 18.3% on a year-over-year basis.

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

Gray Television Trading Down 3.3 %

Gray Television stock traded down $0.14 during trading on Thursday, hitting $3.95. The company's stock had a trading volume of 1,482,336 shares, compared to its average volume of 1,055,545. The stock's fifty day moving average is $3.57 and its 200 day moving average is $4.59. Gray Television has a 1-year low of $2.91 and a 1-year high of $8.69. The stock has a market capitalization of $393.20 million, a price-to-earnings ratio of 2.63 and a beta of 1.41. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Gray Television by 1.1% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 239,371 shares of the company's stock worth $1,283,000 after buying an additional 2,654 shares during the last quarter. Quadrature Capital Ltd lifted its holdings in Gray Television by 27.4% in the third quarter. Quadrature Capital Ltd now owns 19,006 shares of the company's stock worth $102,000 after acquiring an additional 4,083 shares during the last quarter. HighTower Advisors LLC boosted its stake in Gray Television by 10.2% in the third quarter. HighTower Advisors LLC now owns 70,031 shares of the company's stock valued at $374,000 after acquiring an additional 6,480 shares during the period. Rhumbline Advisers grew its holdings in shares of Gray Television by 4.8% during the fourth quarter. Rhumbline Advisers now owns 142,935 shares of the company's stock valued at $450,000 after purchasing an additional 6,498 shares during the last quarter. Finally, Versor Investments LP raised its position in shares of Gray Television by 40.7% during the 3rd quarter. Versor Investments LP now owns 22,800 shares of the company's stock worth $122,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 78.64% of the company's stock.

Insiders Place Their Bets

In other 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 transaction 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 4.80% of the stock is owned by company insiders.

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.