Gray Television (GTN) Stock Price, News & Analysis

Company Overview

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. It owns and operates television stations and digital assets that serve television markets in the United States. The company was formerly known as Gray Communications Systems, Inc. and changed its name to Gray Television, Inc. in August 2002. Gray Television, Inc. was founded in 1891 and is headquartered in Atlanta, Georgia.

Key Stats

• Today's Range: $4.69 to $4.94
• 50-Day Range: $4.28 to $5.95
• 52-Week Range: $3.95 to $10.07
• Volume: 1.17 million shs
• Average Volume: 1.28 million shs
• Market Capitalization: $467.45 million
• P/E Ratio: 3.13
• Dividend Yield: 6.82%
• Price Target: $6.67
• Consensus Rating: Moderate Buy

Gray Television Stock Analysis - MarketRank™

Gray Television scored higher than 99% of companies evaluated by MarketBeat, and ranked 5th out of 287 stocks in the consumer discretionary sector. Scores are calculated by averaging available category scores, with extra weight given to analysis and valuation.

Analyst's Opinion

• Score: 3.3 / 5
• Analyst Rating: Moderate Buy

Consensus Rating

Gray Television has received a consensus rating of Moderate Buy. The company's average rating score is 2.60, and is based on 2 buy ratings, 1 hold rating, and 1 sell rating.

Amount of Analyst Coverage

Gray Television has only been the subject of 3 research reports in the past 90 days.

Earnings and Valuation

• Score: 3.1 / 5
• Proj. Earnings Growth: Decreasing

Earnings Growth

Earnings for Gray Television are expected to decrease in the coming year, from $3.54 to ($0.86) per share.

Price to Earnings Ratio vs. the Market

The P/E ratio of Gray Television is 3.13, which means that it is trading at a less expensive P/E ratio than the market average P/E ratio of about 124.00.

Price to Earnings Ratio vs. Sector

The P/E ratio of Gray Television is 3.13, which means that it is trading at a less expensive P/E ratio than the Consumer Discretionary sector average P/E ratio of about 18.28.

Price to Earnings Growth Ratio

Gray Television has a PEG Ratio of 0.12. PEG Ratios below 1 indicate that a company could be undervalued.

Price to Book Value per Share Ratio

Gray Television has a P/B Ratio of 0.22. P/B Ratios below 1 indicate that a company could be undervalued with respect to its assets and liabilities.

Short Interest

• Score: 5.0 / 5
• Short Interest Level: Healthy

Percentage of Shares Shorted

4.96% of the float of Gray Television has been sold short.

Short Interest Ratio / Days to Cover

Gray Television has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Gray Television has recently decreased by 7.91%, indicating that investor sentiment is improving significantly.

Dividend

• Score: 2.5 / 5
• Dividend Strength: Moderate

Dividend Leadership

Gray Television is a leading dividend payer. It pays a dividend yield of 7.27%, putting its dividend yield in the top 25% of dividend-paying stocks.

Dividend Growth

Gray Television does not have a long track record of dividend growth.

Dividend Coverage

The dividend payout ratio of Gray Television is 21.33%. This payout ratio is at a healthy, sustainable level, below 75%.

Sustainability and ESG

• Score: 3.2 / 5
• Environmental Score: -0.74

Percentage of Shares Shorted

4.96% of the float of Gray Television has been sold short.

Short Interest Ratio / Days to Cover

Gray Television has a short interest ratio ("days to cover") of 3.4, which is generally considered an acceptable ratio of short interest to trading volume.

Change versus previous month

Short interest in Gray Television has recently decreased by 7.91%, indicating that investor sentiment is improving significantly.

News and Social Media

• Score: 3.3 / 5
• News Sentiment: 0.86

News Sentiment

Gray Television has a news sentiment score of 0.86. This score is calculated as an average of sentiment of articles about the company over the last seven days and ranges from 2 (good news) to -2 (bad news). This is a higher news sentiment than the 0.59 average news sentiment score of Consumer Discretionary companies.

News Coverage This Week

MarketBeat has tracked 17 news articles for Gray Television this week, compared to 4 articles on an average week.

Search Interest

Only 1 people have searched for GTN on MarketBeat in the last 30 days. This is a decrease of -50% compared to the previous 30 days.

MarketBeat Follows

2 people have added Gray Television to their MarketBeat watchlist in the last 30 days. This is an increase of 100% compared to the previous 30 days.

Company Ownership

• Score: 1.7 / 5
• Insider Trading: N/A

Insider Buying vs. Insider Selling

In the past three months, Gray Television insiders have not sold or bought any company stock.

Percentage Held by Insiders

Only 4.80% of the stock of Gray Television is held by insiders.

Percentage Held by Institutions

78.64% of the stock of Gray Television is held by institutions. High institutional ownership can be a signal of strong market trust in this company.

GTN Stock Analysis - Frequently Asked Questions

How have GTN shares performed this year?

Gray Television's stock was trading at $8.96 at the beginning of 2024. Since then, GTN stock has decreased by 47.7% and is now trading at $4.69.
View the best growth stocks for 2024 here.

How were Gray Television's earnings last quarter?

Gray Television, Inc. (NYSE:GTN) announced its quarterly earnings results on Friday, November, 8th. The company reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by $0.08. The business's quarterly revenue was up 18.3% compared to the same quarter last year.

Who are Gray Television's major shareholders?

Top institutional investors of Gray Television include Capital Management Corp VA (5.46%), State Street Corp (2.02%), Geode Capital Management LLC (1.98%) and Charles Schwab Investment Management Inc. (1.70%). Insiders that own company stock include Hilton H Howell Jr, Robin Robinson Howell, Harriett J Robinson, D Patrick Laplatney, James C Ryan, Richard Lee Boger, T L Elder, Jackson S Iv Cowart and Robert Lawrence Smith.
View institutional ownership trends.

How do I buy shares of Gray Television?

Shares of GTN stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include Charles Schwab, E*TRADE, Fidelity, and Vanguard Brokerage Services.
Compare Top Brokerages Here.

What other stocks do shareholders of Gray Television own?

Based on aggregate information from My MarketBeat watchlists, some other companies that Gray Television investors own include NVIDIA (NVDA), Meta Platforms (META), Broadcom (AVGO), Advanced Micro Devices (AMD), Arista Networks (ANET), Adobe (ADBE) and ServiceNow (NOW).

Company Calendar

• Ex-Dividend for 9/30 Dividend: 9/13/2024
• Dividend Payable: 9/30/2024
• Last Earnings: 11/08/2024
• Today: 11/16/2024
• Ex-Dividend for 12/31 Dividend: 12/13/2024
• Dividend Payable: 12/31/2024
• Fiscal Year End: 12/31/2024
• Next Earnings (Estimated): 2/28/2025

Industry, Sector and Symbol

• Stock Exchange: NYSE
• Sector: Consumer Discretionary
• Industry: Television broadcasting stations
• Sub-Industry: Communication
• Current Symbol: NYSE:GTN
• CUSIP: N/A
• CIK: 43196
• Web: www.gray.tv
• Phone: (404) 266-8333
• Fax: 404-261-9607
• Employees: 9,923
• Year Founded: N/A

Price Target and Rating

• Average Stock Price Target: $6.67
• High Stock Price Target: $8.00
• Low Stock Price Target: $4.00
• Potential Upside/Downside: +42.1%
• Consensus Rating: Moderate Buy
• Rating Score (0-4): 2.60
• Research Coverage: 5 Analysts

Profitability

• EPS (Most Recent Fiscal Year): $1.50
• Trailing P/E Ratio: 3.13
• Forward P/E Ratio: 1.32
• P/E Growth: 0.12
• Net Income: $-76,000,000.00
• Net Margins: 5.69%
• Pretax Margin: 7.62%
• Return on Equity: 9.60%
• Return on Assets: 1.85%

Debt

• Debt-to-Equity Ratio: 2.76
• Current Ratio: 1.13
• Quick Ratio: 1.63

Sales & Book Value

• Annual Sales: $3.28 billion
• Price / Sales: 0.14
• Cash Flow: $4.19 per share
• Price / Cash Flow: 1.12
• Book Value: $21.37 per share
• Price / Book: 0.22

Miscellaneous

• Outstanding Shares: 99,670,000
• Free Float: 94,883,000
• Market Cap: $467.45 million
• Optionable: Optionable
• Beta: 1.47