Gray Media Inc. (NYSE:GTN) Given Average Rating of “Hold” by Brokerages

Gray Media Inc. (NYSE:GTN) has been given a consensus rating of “Hold” by the five research firms that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $7.25.

A number of equities analysts have commented on GTN shares. Benchmark boosted their target price on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Wells Fargo & Company lifted their price target on Gray Media from $5.00 to $5.50 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Gray Media in a report on Monday, December 29th. Wall Street Zen lowered Gray Media from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Finally, Barrington Research restated an “outperform” rating and set a $6.50 price target on shares of Gray Media in a research report on Tuesday, September 23rd.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GTN. Acadian Asset Management LLC purchased a new stake in Gray Media in the 1st quarter valued at about $28,000. Pallas Capital Advisors LLC purchased a new position in Gray Media in the second quarter valued at $55,000. Merit Financial Group LLC purchased a new position in shares of Gray Media in the 3rd quarter valued at about $59,000. Wealth Alliance LLC acquired a new position in Gray Media during the 3rd quarter worth approximately $63,000. Finally, Man Group plc purchased a new position in Gray Media in the third quarter valued at $71,000. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Gray Media Stock Performance

Shares of NYSE:GTN opened at $4.43 on Friday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 2.60. The firm’s 50-day moving average is $4.84 and its 200 day moving average is $5.12. Gray Media has a 12 month low of $3.13 and a 12 month high of $6.30. The company has a market capitalization of $452.67 million, a price-to-earnings ratio of 10.81 and a beta of 0.89.

Gray Media (NYSE:GTN) last posted its quarterly earnings results on Friday, November 7th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.17. The company had revenue of $749.00 million for the quarter, compared to the consensus estimate of $745.25 million. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The firm’s revenue was down 21.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. Research analysts predict that Gray Media will post 3.32 EPS for the current year.

Gray Media Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Monday, December 15th were paid a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 7.2%. The ex-dividend date of this dividend was Monday, December 15th. Gray Media’s dividend payout ratio is currently 78.05%.

About Gray Media

Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.