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Gray Television, Inc. (NYSE: GTN) announced a quarterly dividend on Thursday, August 5, Zacks reports. Investors of record on Wednesday September 15 will receive a dividend of 0.08 per share on Thursday September 30. This represents an annualized dividend of $ 0.32 and a dividend yield of 1.42%. The ex-dividend date for this dividend is Tuesday, September 14.
GTN shares opened at $ 22.51 on Friday. The company has a debt to equity ratio of 2.24, a current ratio of 5.21, and a rapid ratio of 5.21. Gray Television has a one-year minimum of $ 11.95 and a one-year maximum of $ 24.43. The stock has a market cap of $ 2.15 billion, a PE ratio of 6.24, a price / earnings-growth ratio of 1.20, and a beta of 2.06. The 50-day moving average share price is $ 22.64.
Gray Television (NYSE: GTN) last released its quarterly results on Thursday, August 5. The company reported EPS of $ 0.27 for the quarter, missing the Thomson Reuters consensus estimate of $ 0.30 ($ 0.03). Gray Television had a return on equity of 24.19% and a net margin of 16.56%. The company posted revenue of $ 547.00 million for the quarter, compared to analysts’ expectations of $ 542.01 million. In the same quarter of the previous year, the company posted ($ 0.02) earnings per share. The company’s revenue for the quarter increased 21.3% from the same quarter last year. Sell-side analysts predict Gray Television will post 1.84 EPS for the current year.
Separately, CEO Hilton H. Howell, Jr. sold 49,700 shares of the company in a trade on Friday, May 14. The stock was sold for an average price of $ 21.09, for a total value of $ 1,048,173.00. As a result of the transaction, the CEO now owns 1,287,351 shares of the company, valued at approximately $ 27,150,232.59. The sale was disclosed in a file with the SEC, which can be accessed through the SEC’s website. In addition, director D Patrick Laplatney sold 40,000 shares of the company in a transaction on Tuesday, June 15. The shares were sold for an average price of $ 22.61, for a total value of $ 904,400.00. Following the completion of the transaction, the director now directly owns 400,757 shares of the company, valued at approximately $ 9,061,115.77. Disclosure of this sale can be found here. Insiders have sold 109,700 shares of the company valued at $ 2,410,373 in the past three months. 4.50% of the shares are currently held by company insiders.
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A number of stock analysts have weighed on the company. Barrington Research increased its price target on Gray Television from $ 23.00 to $ 25.00 and gave the stock an “outperformance” rating in a research note on Monday, May 10. Zacks Investment Research upgraded Gray Television from a “strong sell” rating to a “conservation” rating in a research note on Wednesday. One research analyst rated the stock with a conservation rating and three gave the stock a buy rating. The stock has a consensus rating of “Buy” and a consensus price target of $ 25.00.
Gray Television Company Profile
Gray Television, Inc. is a television broadcasting company that owns and operates television stations and digital assets in United States markets. It operates through the following segments: Broadcasting and production companies. The Broadcasting segment operates television stations located in local markets in the United States.
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