Gray Television (NYSE:GTN) Trading 4.4% Higher

Gray Television, Inc. (NYSE:GTN) shares traded up 4.4% during mid-day trading on Thursday . The stock traded as high as $22.32 and last traded at $22.26. 3,810 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 756,247 shares. The stock had previously closed at $21.33.

Several analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Gray Television from a “strong sell” rating to a “hold” rating in a report on Wednesday, January 5th. Wells Fargo & Company assumed coverage on shares of Gray Television in a research note on Monday, January 3rd. They set an “overweight” rating on the stock.

The company has a debt-to-equity ratio of 2.26, a current ratio of 3.11 and a quick ratio of 3.11. The company has a market capitalization of $2.19 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 0.61 and a beta of 1.91. The stock’s 50 day simple moving average is $21.28 and its 200-day simple moving average is $22.09.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.32) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.70). The business had revenue of $601.00 million for the quarter, compared to analysts’ expectations of $597.00 million. Gray Television had a return on equity of 16.09% and a net margin of 11.47%. The firm’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the company earned $1.14 earnings per share. On average, equities analysts predict that Gray Television, Inc. will post 0.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 31st. Shareholders of record on Wednesday, December 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Tuesday, December 14th. This represents a $0.32 dividend on an annualized basis and a yield of 1.40%. Gray Television’s dividend payout ratio (DPR) is presently 13.11%.

Several institutional investors have recently made changes to their positions in the company. Shell Asset Management Co. grew its position in shares of Gray Television by 5.7% during the second quarter. Shell Asset Management Co. now owns 11,453 shares of the company’s stock worth $268,000 after buying an additional 620 shares in the last quarter. Diversified Trust Co grew its position in shares of Gray Television by 8.2% during the fourth quarter. Diversified Trust Co now owns 10,306 shares of the company’s stock worth $208,000 after buying an additional 782 shares in the last quarter. US Bancorp DE grew its position in shares of Gray Television by 9.7% during the second quarter. US Bancorp DE now owns 10,686 shares of the company’s stock worth $250,000 after buying an additional 943 shares in the last quarter. Teacher Retirement System of Texas grew its position in shares of Gray Television by 10.4% during the third quarter. Teacher Retirement System of Texas now owns 12,797 shares of the company’s stock worth $292,000 after buying an additional 1,209 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Gray Television by 1.1% during the second quarter. Rhumbline Advisers now owns 120,616 shares of the company’s stock worth $2,822,000 after buying an additional 1,297 shares in the last quarter. 75.61% of the stock is owned by institutional investors and hedge funds.

Gray Television Company Profile (NYSE:GTN)

Gray Television, Inc is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It operates through the following segments: Broadcasting, and Production Companies. The Broadcasting segment operates television stations located across local markets in the United States.

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