Gray Television (NYSE:GTN) Raised to Hold at Barrington Research

Gray Television (NYSE:GTN - Get Free Report) was upgraded by stock analysts at Barrington Research to a "hold" rating in a report issued on Thursday,Zacks.com reports.

Several other equities analysts have also recently weighed in on GTN. Guggenheim decreased their price objective on Gray Television from $10.00 to $8.00 and set a "buy" rating for the company in a report on Tuesday. Benchmark cut their price objective on Gray Television from $11.00 to $8.00 and set a "buy" rating for the company in a report on Monday, November 11th. StockNews.com raised shares of Gray Television from a "sell" rating to a "hold" rating in a research report on Monday, November 11th. Finally, Wells Fargo & Company decreased their price objective on shares of Gray Television from $6.00 to $4.00 and set an "underweight" rating for the company in a research report on Friday, August 9th. 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 stock. According to data from MarketBeat.com, Gray Television has a consensus rating of "Moderate Buy" and a consensus target price of $6.67.

Gray Television Trading Down 2.1 %

NYSE GTN traded down $0.10 during trading on Thursday, reaching $4.69. 1,173,107 shares of the stock traded hands, compared to its average volume of 1,276,759. The stock's 50-day moving average price is $5.27 and its 200 day moving average price is $5.42. The company has a quick ratio of 1.63, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The firm has a market cap of $467.45 million, a price-to-earnings ratio of 3.13, a price-to-earnings-growth ratio of 0.12 and a beta of 1.47. Gray Television has a fifty-two week low of $3.95 and a fifty-two week high of $10.07.

Gray Television (NYSE:GTN - Get Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.86 EPS for the quarter, missing analysts' consensus estimates of $0.94 by ($0.08). The firm had revenue of $950.00 million during the quarter, compared to the consensus estimate of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. Gray Television's quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.57) EPS. Analysts predict that Gray Television will post 3.54 EPS for the current year.

Hedge Funds Weigh In On Gray Television

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC boosted its holdings in Gray Television by 3.0% in the third quarter. Geode Capital Management LLC now owns 1,971,374 shares of the company's stock valued at $10,568,000 after acquiring an additional 57,481 shares during the last quarter. Barclays PLC increased its position in shares of Gray Television by 114.4% during the third quarter. Barclays PLC now owns 272,272 shares of the company's stock worth $1,460,000 after buying an additional 145,263 shares during the period. MML Investors Services LLC bought a new position in Gray Television during the third quarter worth $65,000. EP Wealth Advisors LLC acquired a new position in Gray Television in the third quarter valued at $67,000. Finally, State Street Corp boosted its position in Gray Television by 1.9% during the third quarter. State Street Corp now owns 2,009,896 shares of the company's stock valued at $10,773,000 after acquiring an additional 36,541 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company's stock.

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.