Gray Media Inc. (NYSE:GTN – Get Free Report) has earned an average rating of “Hold” from the six analysts that are currently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $7.8750.
A number of equities analysts recently issued reports on GTN shares. Zacks Research downgraded shares of Gray Media from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 4th. Wall Street Zen raised shares of Gray Media from a “sell” rating to a “hold” rating in a research note on Sunday, May 17th. Wells Fargo & Company increased their price target on shares of Gray Media from $5.50 to $6.00 and gave the stock an “equal weight” rating in a research note on Monday, March 2nd. Guggenheim decreased their price target on shares of Gray Media from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Benchmark increased their price target on shares of Gray Media from $10.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, February 27th.
Check Out Our Latest Stock Report on Gray Media
Insider Transactions at Gray Media
Hedge Funds Weigh In On Gray Media
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Management Corp VA increased its stake in shares of Gray Media by 4.1% during the fourth quarter. Capital Management Corp VA now owns 6,149,022 shares of the company’s stock valued at $29,761,000 after purchasing an additional 242,525 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Gray Media by 4.4% during the third quarter. Vanguard Group Inc. now owns 5,998,630 shares of the company’s stock valued at $34,672,000 after purchasing an additional 251,419 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gray Media by 23.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 5,188,712 shares of the company’s stock valued at $25,113,000 after purchasing an additional 994,474 shares in the last quarter. Miller Value Partners LLC increased its stake in shares of Gray Media by 12.1% during the fourth quarter. Miller Value Partners LLC now owns 3,988,495 shares of the company’s stock valued at $19,304,000 after purchasing an additional 430,280 shares in the last quarter. Finally, Penn Capital Management Company LLC increased its stake in shares of Gray Media by 43.6% during the third quarter. Penn Capital Management Company LLC now owns 3,236,997 shares of the company’s stock valued at $18,758,000 after purchasing an additional 983,415 shares in the last quarter. Institutional investors own 78.64% of the company’s stock.
Gray Media Stock Performance
Gray Media stock opened at $4.08 on Friday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 2.72. The firm has a 50-day moving average of $4.88 and a 200-day moving average of $4.82. The firm has a market cap of $418.67 million, a P/E ratio of -2.66 and a beta of 1.04. Gray Media has a 1-year low of $3.50 and a 1-year high of $6.43.
Gray Media (NYSE:GTN – Get Free Report) last posted its earnings results on Thursday, May 7th. The company reported ($0.34) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.02). Gray Media had a negative return on equity of 3.07% and a negative net margin of 3.12%.The firm had revenue of $768.00 million for the quarter, compared to analysts’ expectations of $768.05 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The business’s revenue for the quarter was down 1.8% on a year-over-year basis. Sell-side analysts expect that Gray Media will post 1.8 EPS for the current year.
Gray Media Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, June 15th will be paid a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 7.9%. The ex-dividend date of this dividend is Monday, June 15th. Gray Media’s dividend payout ratio is presently -20.92%.
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.
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