Equities research analysts forecast that Gray Television, Inc. (NYSE:GTN) will announce $0.89 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gray Television’s earnings, with estimates ranging from $0.83 to $0.92. Gray Television reported earnings of $0.40 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 122.5%. The company is expected to report its next earnings results on Tuesday, February 26th.

According to Zacks, analysts expect that Gray Television will report full-year earnings of $2.18 per share for the current year, with EPS estimates ranging from $2.01 to $2.30. For the next year, analysts anticipate that the firm will report earnings of $1.33 per share, with EPS estimates ranging from $1.14 to $1.50. Zacks’ EPS averages are an average based on a survey of analysts that follow Gray Television.

Gray Television (NYSE:GTN) last issued its quarterly earnings results on Tuesday, November 6th. The company reported $0.70 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.09. Gray Television had a return on equity of 14.95% and a net margin of 29.12%. The firm had revenue of $279.00 million during the quarter, compared to the consensus estimate of $276.52 million. During the same period last year, the company earned $0.21 earnings per share. The company’s revenue for the quarter was up 27.4% on a year-over-year basis.

Several equities research analysts recently weighed in on GTN shares. Barrington Research reaffirmed a “buy” rating and set a $19.00 price target on shares of Gray Television in a report on Tuesday, August 7th. Noble Financial set a $23.00 price target on Gray Television and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research raised Gray Television from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, September 5th. ValuEngine raised Gray Television from a “hold” rating to a “buy” rating in a report on Monday, October 22nd. Finally, Benchmark increased their price objective on Gray Television from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, November 7th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $22.25.

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its position in Gray Television by 5.9% in the second quarter. BlackRock Inc. now owns 5,535,604 shares of the company’s stock worth $87,464,000 after acquiring an additional 308,617 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Gray Television by 142.3% in the second quarter. Bank of New York Mellon Corp now owns 3,018,985 shares of the company’s stock valued at $47,700,000 after buying an additional 1,773,153 shares in the last quarter. Penn Capital Management Co. Inc. increased its position in shares of Gray Television by 11.9% in the second quarter. Penn Capital Management Co. Inc. now owns 1,713,436 shares of the company’s stock valued at $27,213,000 after buying an additional 181,532 shares in the last quarter. Sound Point Capital Management LP increased its position in shares of Gray Television by 32.3% in the third quarter. Sound Point Capital Management LP now owns 1,382,036 shares of the company’s stock valued at $24,186,000 after buying an additional 337,381 shares in the last quarter. Finally, Loomis Sayles & Co. L P increased its position in shares of Gray Television by 15.9% in the third quarter. Loomis Sayles & Co. L P now owns 1,179,867 shares of the company’s stock valued at $20,648,000 after buying an additional 161,747 shares in the last quarter. Hedge funds and other institutional investors own 88.70% of the company’s stock.

Shares of NYSE GTN opened at $18.84 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 6.32 and a quick ratio of 6.32. Gray Television has a 1-year low of $10.70 and a 1-year high of $20.24. The firm has a market cap of $1.72 billion, a P/E ratio of 10.90, a P/E/G ratio of 0.89 and a beta of 2.23.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 23, 2018, the company owned and operated television stations in 57 television markets broadcasting approximately 200 program streams, including approximately 100 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.

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Earnings History and Estimates for Gray Television (NYSE:GTN)

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