FY2017 Earnings Estimate for Gray Television, Inc. (GTN) Issued By Barrington Research

Gray Television, Inc. (NYSE:GTN) – Barrington Research boosted their FY2017 earnings per share estimates for Gray Television in a research note issued on Monday. Barrington Research analyst J. Goss now expects that the company will post earnings of $0.85 per share for the year, up from their prior forecast of $0.80. Barrington Research also issued estimates for Gray Television’s Q1 2018 earnings at $0.26 EPS.

A number of other analysts have also recently weighed in on GTN. Zacks Investment Research raised Gray Television from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, January 18th. TheStreet raised Gray Television from a “c+” rating to a “b” rating in a research report on Wednesday, March 1st. Singular Research increased their price objective on Gray Television from $12.00 to $18.00 and gave the stock a “buy” rating in a research report on Thursday, March 9th. Royal Bank of Canada reaffirmed a “buy” rating and set a $17.00 price objective on shares of Gray Television in a research report on Thursday, April 13th. Finally, Benchmark Co. reaffirmed a “buy” rating and set a $19.00 price objective on shares of Gray Television in a research report on Friday, May 5th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Gray Television currently has an average rating of “Buy” and a consensus price target of $16.50.

Earnings History and Estimates for Gray Television (NYSE:GTN)

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Shares of Gray Television (NYSE:GTN) opened at 12.95 on Wednesday. The firm has a market capitalization of $931.84 million, a price-to-earnings ratio of 14.72 and a beta of 3.16. Gray Television has a one year low of $7.00 and a one year high of $15.45. The company’s 50 day moving average is $14.22 and its 200-day moving average is $11.92.

Gray Television (NYSE:GTN) last issued its quarterly earnings data on Thursday, May 4th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Gray Television had a net margin of 5.57% and a return on equity of 13.68%. The business had revenue of $203.46 million for the quarter, compared to analyst estimates of $194.68 million. During the same period last year, the business posted $0.12 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis.

In other Gray Television news, Director Richard Lee Boger sold 7,000 shares of the stock in a transaction that occurred on Friday, March 10th. The stock was sold at an average price of $14.21, for a total transaction of $99,470.00. Following the completion of the sale, the director now directly owns 21,066 shares of the company’s stock, valued at approximately $299,347.86. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.77% of the stock is currently owned by company insiders.

A number of hedge funds have recently bought and sold shares of the company. Emerald Mutual Fund Advisers Trust boosted its stake in Gray Television by 24.7% in the third quarter. Emerald Mutual Fund Advisers Trust now owns 47,222 shares of the company’s stock valued at $489,000 after buying an additional 9,360 shares in the last quarter. First Trust Advisors LP boosted its stake in Gray Television by 60.8% in the third quarter. First Trust Advisors LP now owns 22,382 shares of the company’s stock valued at $232,000 after buying an additional 8,463 shares in the last quarter. US Bancorp DE boosted its stake in Gray Television by 16.9% in the third quarter. US Bancorp DE now owns 27,497 shares of the company’s stock valued at $285,000 after buying an additional 3,969 shares in the last quarter. Emerald Acquisition Ltd. boosted its stake in Gray Television by 6.3% in the third quarter. Emerald Acquisition Ltd. now owns 332,099 shares of the company’s stock valued at $3,440,000 after buying an additional 19,566 shares in the last quarter. Finally, Acrospire Investment Management LLC boosted its stake in Gray Television by 871.9% in the third quarter. Acrospire Investment Management LLC now owns 14,355 shares of the company’s stock valued at $149,000 after buying an additional 12,878 shares in the last quarter. 82.70% of the stock is owned by institutional investors.

Gray Television Company Profile

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. As of February 21, 2017, the Company owned and/or operated television stations in 54 television markets broadcasting over 200 separate programming streams, including 37 affiliates of the CBS Network (CBS), 29 affiliates of the NBC Network (NBC), 20 affiliates of the ABC Network (ABC) and 15 affiliates of the FOX Network (FOX).

5 Day Chart for NYSE:GTN

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