In the last trading session, 1.02 million shares of the Gray Television Inc. (NYSE:GTN) were traded, and its beta was 1.54. Most recently the company’s share price was $7.96, and it changed around $0.03 or 0.38% from the last close, which brings the market valuation of the company to $780.64M. GTN currently trades at a discount to its 52-week high of $20.83, offering almost -161.68% off that amount. The share price’s 52-week low was $6.50, which indicates that the current value has risen by an impressive 18.34% since then. We note from Gray Television Inc.’s average daily trading volume that its 10-day average is 1.43 million shares, with the 3-month average coming to 1.17 million.

Gray Television Inc. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.40. If we narrow it down even further, the data shows that 2 out of 8 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended GTN as a Hold, whereas 5 deemed it a Buy, and 0 rated it as Underweight. Gray Television Inc. is expected to report earnings per share of -$0.17 for the current quarter.

Gray Television Inc. (NYSE:GTN) trade information

Instantly GTN has showed a green trend with a performance of 0.38% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 8.25 on Tuesday, 05/23/23 increased the stock’s daily price by 3.52%. The company’s shares are currently down -28.87% year-to-date, but still up 6.42% over the last five days. On the other hand, Gray Television Inc. (NYSE:GTN) is -0.13% up in the 30-day period. We can see from the shorts that 3.73 million shares have been sold at a short interest cover period of 3.7 day(s).

The consensus price target as assigned by Wall Street analysts is $13.38, which translates to bulls needing to increase their stock price by 40.51% from its current value. Analyst projections state that GTN is forecast to be at a low of $5.00 and a high of $20.00. In order for the stock price to hit the forecast high, the stock would need to plunge -151.26% from its current level, while the stock would need to crash 37.19% from its current level to reach the projected low.

Gray Television Inc. (GTN) estimates and forecasts

Gray Television Inc. share prices are performing particularly well not compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -27.70 percent over the past six months and at a -108.08% annual growth rate that is well below the industry average of -12.40%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will loss -118.70% in revenue this quarter, and will report a decrease of -103.90% in the next quarter. The year-over-year growth rate is expected to be -10.00%, down from the previous year.

Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $794.51 million in revenue for the current quarter. 7 analysts expect Gray Television Inc. to make $812.13 million in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $868 million and $950.99 million respectively. Analysts predict that the company’s current quarter sales will drop, forecast at -8.50%. Forecasts for the next quarter put sales growth at -14.60%.

Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 22.50%. Gray Television Inc. earnings are expected to increase by 983.30% in 2023, but the outlook is positive 36.90% per year for the next five years.

GTN Dividends

Gray Television Inc.’s next quarterly earnings report is expected to be released on May 05. The annual dividend yield of the stock is 4.02 percent and its annual dividend per share was 0.32. It is important to note, however, that the 4.02% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.

Gray Television Inc. (NYSE:GTN)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 4.50% of Gray Television Inc. shares, and 91.79% of them are in the hands of institutional investors. The stock currently has a share float of 96.11%. Gray Television Inc. stock is held by 285 institutions, with Dimensional Fund Advisors LP being the largest institutional investor. By Mar 30, 2023, it held 7.08% of the shares, which is about 6.16 million shares worth $53.72 million.

Blackrock Inc., with 6.62% or 5.77 million shares worth $50.29 million as of Mar 30, 2023, holds the second largest percentage of outstanding shares.

Vanguard Total Stock Market Index Fund and DFA U.S. Small Cap Value Series were the top two Mutual Funds as of Dec 30, 2022. The former held 2.47 million shares worth $27.67 million, making up 2.89% of all outstanding shares. On the other hand, DFA U.S. Small Cap Value Series held roughly 2.01 million shares worth around $26.06 million, which represents about 2.35% of the total shares outstanding.