Reaffirmed Buy Rating for Gray Television Inc. (GTN)

Pacad Investment Ltd. lifted its holdings in Gray Television by 24.3% during the 2nd quarter. The business is expected to issue its next earnings results before the market opens on Tuesday, November 14th. For the next financial year, analysts expect that the company will report sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.03 billion. Gray Television presently has an average rating of Buy and an average price target of $18.17. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.25 by $0.03. Gray Television had a net margin of 5.57% and a return on equity of 13.68%. The company earned $204.50 million during the quarter, compared to analysts' expectations of $220.35 million. During the same quarter past year, the firm posted $0.18 earnings per share. Gray Television's revenue for the quarter was up 35.3% compared to the same quarter past year.

GTN has been the subject of several other reports. Guggenheim began coverage on Gray Television in a research note on Wednesday. The stock has "Buy" rating by RBC Capital Markets on Tuesday, August 8.

Among 4 analysts covering Gray Television (NYSE:GTN), 4 have Buy rating, 0 Sell and 0 Hold. ValuEngine raised Gray Television from a "buy" rating to a "strong-buy" rating in a research note on Thursday, September 21st. Wells Fargo & Company reaffirmed an outperform rating and set a $18.00 price target (up previously from $15.50) on shares of Gray Television in a research report on Thursday, August 10th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. BidaskClub cut shares of Gray Television from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 6th.

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News headlines about Gray Television (NYSE:GTN) have trended somewhat positive on Monday, according to Accern Sentiment Analysis. Prnewswire.com's news article titled: "Ad Council Honors Gray Television with the 2017 Crystal Bell Award" with publication date: September 28, 2017 was also an interesting one.

The P/E ratio is 9.64 and the market cap is 1.11B. The company's 50-day moving average price is $14.78 and its 200-day moving average price is $14.05.

Large investors have recently added to or reduced their stakes in the company.

As of the end of the quarter Bank Of Montreal /can/ had disposed of 309 shares trimming its stake by 57.9%. Gotham Asset Management LLC now owns 362,867 shares of the company's stock valued at $5,262,000 after purchasing an additional 279,753 shares during the period. American International Group Inc. boosted its stake in shares of Gray Television by 7.1% during the first quarter. Advisory Services Network, LLC now controls 4,850 shares with a value of $76,000. LPL Financial LLC boosted its position in Gray Television by 144.6% in the third quarter. Da Davidson Co accumulated 1,624 shares or 0% of the stock. LSV Asset Management purchased a new stake in Gray Television during the 2nd quarter worth about $153,000.

Gray Television, Inc is a television broadcast company. The Company owns and operates television stations and digital assets in various markets across the United States. The Company owns and/or operates television stations in approximately 50 television markets broadcasting over 180 separate programming streams, including approximately 40 affiliates of the CBS Network (CBS), over 30 affiliates of the NBC Network (NBC), approximately 20 affiliates of the ABC Network (ABC) and over 10 affiliates of the FOX Network (FOX).

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