Gray Television (NYSE:GTN) Releases Earnings Results

Gray Television (NYSE:GTN) announced its quarterly earnings results on Thursday. The company reported $1.59 earnings per share for the quarter, meeting the consensus estimate of $1.59, Zacks reports. Gray Television had a net margin of 5.69% and a return on equity of 9.60%. The firm had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $1.04 billion. Gray Television updated its Q1 2025 guidance to EPS.

Gray Television Stock Up 0.9 %

Shares of NYSE GTN opened at $3.91 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76. The business’s 50 day moving average is $3.60 and its two-hundred day moving average is $4.43. Gray Television has a 52-week low of $2.91 and a 52-week high of $7.41. The firm has a market cap of $389.30 million, a price-to-earnings ratio of 2.60 and a beta of 1.41.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Guggenheim dropped their price target on shares of Gray Television from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Benchmark cut their target price on Gray Television from $11.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, November 11th. StockNews.com upgraded Gray Television from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Barrington Research upgraded Gray Television to a “hold” rating in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.67.

Insider Transactions at Gray Television

In related news, EVP Kevin Paul Latek sold 150,216 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $4.37, for a total value of $656,443.92. Following the sale, the executive vice president now owns 509,212 shares in the company, valued at approximately $2,225,256.44. The trade was a 22.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.80% of the company’s stock.

About Gray Television

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.