Gray Television (NYSE:GTN) Releases Quarterly Earnings Results, Beats Estimates By $0.09 EPS


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Gray Television (NYSE:GTN) posted its quarterly earnings data on Sunday. The company reported $0.27 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.18 by $0.09, Briefing.com reports. The company had revenue of $544.00 million for the quarter, compared to analysts’ expectations of $532.96 million. Gray Television had a net margin of 12.91% and a return on equity of 18.71%. Gray Television’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.41 earnings per share.

NYSE GTN traded down $0.24 on Tuesday, reaching $21.93. 43,279 shares of the stock were exchanged, compared to its average volume of 664,317. The company’s 50-day simple moving average is $19.57 and its two-hundred day simple moving average is $17.83. The company has a current ratio of 2.67, a quick ratio of 2.67 and a debt-to-equity ratio of 2.37. The firm has a market capitalization of $2.09 billion, a PE ratio of 9.40, a PEG ratio of 1.17 and a beta of 2.06. Gray Television has a one year low of $10.45 and a one year high of $23.25.

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 31st. Shareholders of record on Monday, March 15th were given a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend was Friday, March 12th. Gray Television’s payout ratio is 25.20%.

Several research analysts recently weighed in on GTN shares. Zacks Investment Research upgraded shares of Gray Television from a “sell” rating to a “hold” rating in a research report on Thursday, March 4th. Loop Capital upped their price objective on shares of Gray Television from $23.00 to $25.00 and gave the stock a “buy” rating in a research report on Tuesday, January 5th. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gray Television has a consensus rating of “Buy” and a consensus price target of $21.00.

In related news, EVP Kevin Paul Latek sold 13,265 shares of the stock in a transaction dated Wednesday, February 24th. The stock was sold at an average price of $20.17, for a total transaction of $267,555.05. Following the completion of the sale, the executive vice president now owns 288,721 shares in the company, valued at $5,823,502.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last 90 days, insiders have sold 76,350 shares of company stock worth $1,497,227. 10.27% of the stock is owned by corporate insiders.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and/or operates television stations and digital assets in the United States. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Justice, Circle, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets.

See Also: Analyst Ratings

Earnings History for Gray Television (NYSE:GTN)

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