Noble Financial Comments on Gray Television FY2024 Earnings

Gray Television, Inc. (NYSE:GTN - Free Report) - Analysts at Noble Financial issued their FY2024 earnings per share estimates for shares of Gray Television in a research note issued to investors on Monday, November 11th. Noble Financial analyst M. Kupinski anticipates that the company will earn $2.70 per share for the year. The consensus estimate for Gray Television's current full-year earnings is $4.37 per share. Noble Financial also issued estimates for Gray Television's Q4 2024 earnings at $0.96 EPS.

GTN has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on shares of Gray Television from $6.00 to $4.00 and set an "underweight" rating on the stock in a report on Friday, August 9th. Benchmark cut their price objective on shares of Gray Television from $11.00 to $8.00 and set a "buy" rating on the stock in a report on Monday. StockNews.com upgraded shares of Gray Television from a "sell" rating to a "hold" rating in a report on Monday. Finally, Guggenheim cut their price target on Gray Television from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Tuesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $6.67.

Gray Television Trading Up 8.9 %

GTN stock traded up $0.39 on Thursday, reaching $4.79. The company's stock had a trading volume of 1,692,596 shares, compared to its average volume of 1,277,219. The firm has a market cap of $477.40 million, a PE ratio of 3.19, a PEG ratio of 0.10 and a beta of 1.47. The business has a fifty day simple moving average of $5.26 and a two-hundred day simple moving average of $5.43. Gray Television has a 12-month low of $3.95 and a 12-month high of $10.07. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.63 and a current ratio of 1.13.

Gray Television (NYSE:GTN - Get Free Report) last announced 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). The firm had revenue of $950.00 million for the quarter, compared to analysts' expectations of $967.49 million. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The company's quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.57) EPS.

Gray Television Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $0.32 annualized dividend and a yield of 6.68%. Gray Television's dividend payout ratio (DPR) is currently 21.33%.

Hedge Funds Weigh In On Gray Television

Large investors have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new position in shares of Gray Television during the 1st quarter worth approximately $25,000. nVerses Capital LLC purchased a new stake in shares of Gray Television during the 2nd quarter valued at $27,000. CWM LLC lifted its holdings in shares of Gray Television by 733.1% during the 2nd quarter. CWM LLC now owns 7,448 shares of the company's stock valued at $39,000 after purchasing an additional 6,554 shares during the last quarter. Creative Planning purchased a new position in shares of Gray Television in the 3rd quarter valued at approximately $56,000. Finally, HBK Sorce Advisory LLC acquired a new position in Gray Television during the 2nd quarter valued at approximately $58,000. Institutional investors own 78.64% of the company's stock.

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.