Gray Media Inc. (NYSE:GTN) Given Consensus Recommendation of “Hold” by Analysts

Gray Media Inc. (NYSE:GTN) has been assigned a consensus recommendation of “Hold” from the six research firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $8.1250.

Several equities analysts have commented on GTN shares. Wall Street Zen raised shares of Gray Media from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Barrington Research reaffirmed an “outperform” rating and issued a $6.50 price target on shares of Gray Media in a research note on Tuesday, March 3rd. Wells Fargo & Company increased their price objective on shares of Gray Media from $5.50 to $6.00 and gave the company an “equal weight” rating in a report on Monday, March 2nd. Zacks Research lowered shares of Gray Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Guggenheim boosted their target price on Gray Media from $7.00 to $8.00 and gave the stock a “buy” rating in a report on Wednesday, March 4th.

Institutional Trading of Gray Media

Several institutional investors have recently modified their holdings of GTN. Allianz Asset Management GmbH raised its position in Gray Media by 155.8% in the third quarter. Allianz Asset Management GmbH now owns 370,758 shares of the company’s stock worth $2,143,000 after acquiring an additional 225,843 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Gray Media by 36.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,881,087 shares of the company’s stock valued at $10,873,000 after purchasing an additional 504,780 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Gray Media during the 3rd quarter valued at about $1,560,000. Penn Capital Management Company LLC grew its stake in shares of Gray Media by 43.6% in the 3rd quarter. Penn Capital Management Company LLC now owns 3,236,997 shares of the company’s stock worth $18,758,000 after purchasing an additional 983,415 shares during the last quarter. Finally, HighTower Advisors LLC grew its stake in shares of Gray Media by 176.7% in the 3rd quarter. HighTower Advisors LLC now owns 338,024 shares of the company’s stock worth $1,954,000 after purchasing an additional 215,847 shares during the last quarter. Institutional investors and hedge funds own 78.64% of the company’s stock.

Gray Media Stock Up 4.5%

Shares of Gray Media stock opened at $6.18 on Tuesday. The company has a debt-to-equity ratio of 2.66, a current ratio of 1.27 and a quick ratio of 1.27. Gray Media has a 1-year low of $3.13 and a 1-year high of $6.30. The business’s fifty day moving average price is $4.95 and its two-hundred day moving average price is $4.82. The company has a market capitalization of $640.84 million, a P/E ratio of -4.35 and a beta of 0.90.

Gray Media (NYSE:GTN) last issued its quarterly earnings results on Thursday, February 26th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.04. Gray Media had a negative return on equity of 2.51% and a negative net margin of 2.75%.The company had revenue of $792.00 million for the quarter, compared to analyst estimates of $780.50 million. During the same period last year, the company earned $1.59 earnings per share. The company’s quarterly revenue was down 24.2% compared to the same quarter last year. As a group, research analysts forecast that Gray Media will post 2.58 EPS for the current year.

Gray Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th were given a dividend of $0.08 per share. The ex-dividend date was Friday, March 13th. This represents a $0.32 annualized dividend and a dividend yield of 5.2%. Gray Media’s dividend payout ratio (DPR) is -22.54%.

Gray Media Company Profile

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.