Zacks: Brokers expect Gray Television, Inc. (NYSE: GTN) to post -$0.11 per share profit


Stock analysts predict that Gray Television, Inc. (NYSE:GTN) will report earnings of ($0.11) per share for the current fiscal quarter, according to Zacks Investment Research. Two analysts provided earnings estimates for Gray Television. Gray Television reported earnings of $2.22 per share in the same quarter last year, indicating a negative 105% year-over-year growth rate. The company is expected to release its next quarterly results before market open on Friday, February 25.

According to Zacks, analysts expect Gray Television to report annual earnings of $0.13 per share for the current year. For next year, analysts expect the company to report earnings of $3.80 per share, with EPS estimates ranging from $3.50 to $4.10. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts who cover Gray Television.

Several brokerages have recently published reports on GTN. Wells Fargo & Company began covering Gray Television shares in a research note on Monday, January 3. They set an “overweight” rating on the stock. Zacks Investment Research upgraded shares of Gray Television from a “strong sell” rating to a “hold” rating in a Wednesday, Jan. 5 research note.

Shares of NYSE GTN opened at $22.16 on Friday. The company has a debt ratio of 2.26, a quick ratio of 3.11 and a current ratio of 3.11. Gray Television has a 52-week low of $17.53 and a 52-week high of $25.24. The company has a 50-day moving average price of $20.96 and a two-hundred-day moving average price of $21.85. The stock has a market capitalization of $2.12 billion, a P/E ratio of 9.08, a price-to-earnings growth ratio of 0.54 and a beta of 1.83.

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A number of hedge funds and other institutional investors have been buying and selling stocks recently. Legal & General Group Plc increased its stake in shares of Gray Television by 15.1% in the second quarter. Legal & General Group Plc now owns 71,624 shares in the company worth $1,676,000 after buying an additional 9,405 shares last quarter. AlphaCrest Capital Management LLC purchased a new position in Gray Television during the second quarter worth approximately $431,000. Vanguard Group Inc. increased its stake in Gray Television by 2.6% during the second quarter. Vanguard Group Inc. now owns 4,606,782 shares of the company valued at $107,798,000 after acquiring an additional 118,844 shares last quarter. Geode Capital Management LLC increased its stake in Gray Television by 2.4% during the second quarter. Geode Capital Management LLC now owns 1,427,212 shares of the company valued at $33,396,000 after acquiring an additional 32,910 shares last quarter. Finally, Macquarie Group Ltd. increased its stake in Gray Television by 1,765.4% during the second quarter. Macquarie Group Ltd. now owns 1,216,272 shares of the company valued at $28,461,000 after acquiring an additional 1,151,072 shares last quarter. Institutional investors and hedge funds own 75.61% of the company’s shares.

About Gray Television

Gray Television, Inc. is a television broadcasting company, which owns and operates television stations and digital assets in markets across the United States. It operates through the following segments: Broadcasting and Production companies. The Broadcasting segment operates television stations located in local markets in the United States.

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Earnings history and estimates for Gray Television (NYSE:GTN)

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