Gray Media (NYSE:GTN – Get Free Report) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Wednesday, Zacks reports.
Several other research firms have also commented on GTN. Wall Street Zen raised shares of Gray Media from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Weiss Ratings downgraded shares of Gray Media from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, October 9th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $7.88.
View Our Latest Analysis on GTN
Gray Media Price Performance
Shares of NYSE GTN opened at $4.46 on Wednesday. The business has a fifty day moving average price of $4.67 and a two-hundred day moving average price of $4.58. The stock has a market capitalization of $458.79 million, a PE ratio of -7.30, a P/E/G ratio of 0.09 and a beta of 1.00. 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 fifty-two week low of $3.55 and a fifty-two week high of $6.43.
Gray Media (NYSE:GTN – Get Free Report) last released its earnings results on Friday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.29. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $795.13 million. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%. Gray Media’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.71) EPS. As a group, equities analysts predict that Gray Media will post 2.35 earnings per share for the current fiscal year.
Institutional Trading of Gray Media
Several institutional investors and hedge funds have recently modified their holdings of GTN. BlackRock Inc. bought a new position in shares of Gray Media in the second quarter worth about $27,789,000. Bank of America Corp DE bought a new stake in shares of Gray Media during the 2nd quarter valued at approximately $971,000. Miller Value Partners LLC bought a new stake in shares of Gray Media during the 2nd quarter valued at approximately $28,756,000. Empowered Funds LLC acquired a new position in Gray Media during the 2nd quarter worth approximately $1,837,000. Finally, DSC Meridian Capital LP acquired a new position in Gray Media during the 2nd quarter worth approximately $3,731,000. 78.64% of the stock is currently owned by institutional investors.
Gray Media Company Profile
Gray Media, formerly known as Gray Television, is a multimedia company that owns and operates local television stations and related digital media properties in markets across the United States. Its stations provide local news, weather, sports, public affairs and entertainment programming, while also distributing content through websites, mobile platforms and other digital channels.
The company’s broadcast portfolio includes affiliates of major networks such as ABC, CBS, NBC, FOX and The CW, as well as independent and specialty stations.
Recommended Stories
- Five stocks we like better than Gray Media
- Robinhood Stock Is Down Nearly 37%—So Why Is Wall Street Still So Bullish?
- 5 Stocks to Buy in November: Bargains Worth Giving Thanks For
- Phillips 66 Posts Strong Earnings But the Stock Doesn’t Care
- NXP Semiconductors Falls After Strong Earnings—Is the Sell-Off Overdone?
Receive News & Ratings for Gray Media Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gray Media and related companies with MarketBeat.com's FREE daily email newsletter.
