Shares of Gray Media Inc. (NYSE:GTN – Get Free Report) have been assigned an average recommendation of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has given a hold recommendation, three have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $7.88.
A number of brokerages have recently commented on GTN. Wall Street Zen upgraded shares of Gray Media from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Zacks Research raised shares of Gray Media from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, September 29th. Finally, Weiss Ratings downgraded Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 9th.
Read Our Latest Report on Gray Media
Institutional Investors Weigh In On Gray Media
Institutional investors have recently made changes to their positions in the stock. Miller Value Partners LLC bought a new position in Gray Media during the 2nd quarter worth approximately $28,756,000. BlackRock Inc. acquired a new position in shares of Gray Media in the 2nd quarter worth approximately $27,789,000. Bank of New York Mellon Corp boosted its stake in shares of Gray Media by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,168,991 shares of the company’s stock valued at $5,073,000 after purchasing an additional 16,833 shares during the last quarter. DSC Meridian Capital LP bought a new stake in shares of Gray Media in the 2nd quarter valued at $3,731,000. Finally, Invst LLC bought a new stake in shares of Gray Media in the 2nd quarter valued at $2,338,000. Institutional investors own 78.64% of the company’s stock.
Gray Media Stock Up 2.4%
Shares of NYSE GTN opened at $4.49 on Tuesday. The company has a 50 day simple moving average of $4.74 and a 200 day simple moving average of $4.53. The company has a debt-to-equity ratio of 2.73, a current ratio of 0.95 and a quick ratio of 0.95. Gray Media has a 1 year low of $3.55 and a 1 year high of $6.43. The firm has a market cap of $461.87 million, a PE ratio of -7.35, a price-to-earnings-growth ratio of 0.09 and a beta of 1.00.
Gray Media (NYSE:GTN – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $795.13 million. During the same period in the previous year, the firm posted ($0.71) EPS. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts forecast that Gray Media will post 2.35 EPS for the current year.
Gray Media Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Tuesday, September 15th were given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 7.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Gray Media’s dividend payout ratio (DPR) is currently -52.46%.
About Gray Media
Gray Media, Inc (NYSE:GTN), formerly known as Gray Television, is a multimedia company focused on local television broadcasting and digital media. The company owns and operates local television stations across the United States, providing news, weather, sports, entertainment and other programming to communities in its service areas.
In addition to its broadcast stations, Gray Media operates digital platforms and produces original content for local and national audiences. Its businesses also include production and distribution activities, allowing the company to serve viewers through over-the-air television, cable and satellite providers, websites, mobile applications and streaming platforms.
Gray Media traces its history to 1946, when it began with a single radio station in Albany, Georgia.
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