Gray Television (NYSE:GTN - Get Free Report) posted its quarterly earnings results on Friday. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.08), Briefing.com reports. Gray Television had a return on equity of 3.02% and a net margin of 1.84%. The company had revenue of $950.00 million during the quarter, compared to analysts' expectations of $967.49 million. During the same period in the prior year, the firm earned ($0.57) EPS. Gray Television's revenue for the quarter was up 18.3% compared to the same quarter last year. Gray Television updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.
Gray Television Price Performance
NYSE GTN traded down $1.51 during trading hours on Friday, reaching $4.28. The company's stock had a trading volume of 7,068,845 shares, compared to its average volume of 836,385. Gray Television has a 1 year low of $3.95 and a 1 year high of $10.07. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 2.98. The company has a market capitalization of $426.57 million, a price-to-earnings ratio of 2.85, a PEG ratio of 0.14 and a beta of 1.47. The firm's 50-day moving average price is $5.30 and its 200-day moving average price is $5.46.
Gray Television Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 7.48%. The ex-dividend date is Friday, December 13th. Gray Television's dividend payout ratio is currently 21.33%.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on GTN shares. Guggenheim cut their target price on shares of Gray Television from $12.00 to $10.00 and set a "buy" rating for the company in a research report on Wednesday, August 14th. Benchmark lowered their price objective on Gray Television from $13.00 to $11.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, Wells Fargo & Company reduced their target price on shares of Gray Television from $6.00 to $4.00 and set an "underweight" rating for the company in a report on Friday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $8.33.
Check Out Our Latest Analysis on GTN
Gray Television Company Profile
(
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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.
Further Reading
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