Analyzing Gray Television (GTN.A) and Its Peers

Gray Television (NYSE: GTN.A) is one of 28 publicly-traded companies in the “Television broadcasting stations” industry, but how does it weigh in compared to its competitors? We will compare Gray Television to similar businesses based on the strength of its risk, earnings, dividends, analyst recommendations, valuation, profitability and institutional ownership.

Analyst Recommendations

This is a breakdown of recent ratings and recommmendations for Gray Television and its competitors, as provided by MarketBeat.

Sell Ratings Hold Ratings Buy Ratings Strong Buy Ratings Rating Score
Gray Television 0 0 0 0 N/A
Gray Television Competitors 239 914 1695 48 2.54

As a group, “Television broadcasting stations” companies have a potential upside of 17.03%. Given Gray Television’s competitors higher possible upside, analysts clearly believe Gray Television has less favorable growth aspects than its competitors.

Dividends

Gray Television pays an annual dividend of $0.32 per share and has a dividend yield of 1.6%. Gray Television pays out 13.1% of its earnings in the form of a dividend. As a group, “Television broadcasting stations” companies pay a dividend yield of 1.8% and pay out 18.1% of their earnings in the form of a dividend.

Institutional & Insider Ownership

0.4% of Gray Television shares are held by institutional investors. Comparatively, 47.0% of shares of all “Television broadcasting stations” companies are held by institutional investors. 13.3% of Gray Television shares are held by company insiders. Comparatively, 8.9% of shares of all “Television broadcasting stations” companies are held by company insiders. Strong institutional ownership is an indication that endowments, hedge funds and large money managers believe a stock will outperform the market over the long term.

Volatility and Risk

Gray Television has a beta of 1.39, indicating that its share price is 39% more volatile than the S&P 500. Comparatively, Gray Television’s competitors have a beta of 1.22, indicating that their average share price is 22% more volatile than the S&P 500.

Earnings & Valuation

This table compares Gray Television and its competitors top-line revenue, earnings per share and valuation.

Gross Revenue Net Income Price/Earnings Ratio
Gray Television $2.38 billion $410.00 million 8.20
Gray Television Competitors $6.68 billion $385.25 million 7.53

Gray Television’s competitors have higher revenue, but lower earnings than Gray Television. Gray Television is trading at a higher price-to-earnings ratio than its competitors, indicating that it is currently more expensive than other companies in its industry.

Profitability

This table compares Gray Television and its competitors’ net margins, return on equity and return on assets.

Net Margins Return on Equity Return on Assets
Gray Television 11.47% 16.09% 3.71%
Gray Television Competitors 12.48% 18.12% 5.48%

Summary

Gray Television competitors beat Gray Television on 7 of the 12 factors compared.

About Gray Television

Gray Television, Inc., a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network. 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, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets. In addition, it is also involved in the video program production, marketing, and digital businesses including Raycom Sports, Tupelo-Raycom, and RTM Studios; and production of PowerNation programs and content. The company was formerly known as Gray Communications Systems, Inc. and changed its name to Gray Television, Inc. in August 2002. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.

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