In the last trading session, 1.36 million shares of the Gray Television, Inc. (NYSE:GTN) were traded, and its beta was 1.56. Most recently the company’s share price was $5.89, and it changed around $0.01 or 0.17% from the last close, which brings the market valuation of the company to $572.51M. GTN currently trades at a discount to its 52-week high of $10.69, offering almost -81.49% off that amount. The share price’s 52-week low was $5.44, which indicates that the current value has risen by an impressive 7.64% since then. We note from Gray Television, Inc.’s average daily trading volume that its 10-day average is 1.18 million shares, with the 3-month average coming to 1.07 million.
Gray Television, Inc. stock received a consensus recommendation rating of Overweight, based on a mean score of 2.43. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 5 rate it as Overweight. Among the rest, 0 recommended GTN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. Gray Television, Inc. is expected to report earnings per share of -$0.06 for the current quarter.
Gray Television, Inc. (NYSE:GTN) trade information
Instantly GTN has showed a green trend with a performance of 0.17% at the end of last trading. The performance over the last five days has remained in the green territory. The company’s shares are currently down -34.26% year-to-date, but still up 4.99% over the last five days. On the other hand, Gray Television, Inc. (NYSE:GTN) is -26.65% down in the 30-day period. We can see from the shorts that 5.5 million shares have been sold at a short interest cover period of 3.79 day(s).
Gray Television, Inc. (GTN) estimates and forecasts
Gray Television, Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -20.08 percent over the past six months and at a 371.94% annual growth rate that is well above the industry average of 24.20%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 87.50% in revenue this quarter, and will report an increase of 240.00% in the next quarter. The year-over-year growth rate is expected to be 17.80%, up from the previous year.
Consensus estimates provided by 7 financial analysts predict the company will bring in an average of $824.98 million in revenue for the current quarter. 6 analysts expect Gray Television, Inc. to make $853.51 million in revenue for the quarter ending Jun 2024. The company’s sales for the same quarters a year ago were $801 million and $813 million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 3.00%. Forecasts for the next quarter put sales growth at 5.00%.
Gray Television, Inc. earnings are expected to increase by 367.93% in 2024, 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 around May 03 and May 07. The annual dividend yield of the stock is 5.43 percent and its annual dividend per share was 0.32. It is important to note, however, that the 5.43% 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 6.15% of Gray Television, Inc. shares, and 87.67% of them are in the hands of institutional investors. The stock currently has a share float of 93.41%. Gray Television, Inc. stock is held by 285 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2023, it held 7.51% of the shares, which is about 6.55 million shares worth $51.63 million.
Dimensional Fund Advisors LP, with 5.91% or 5.16 million shares worth $40.66 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Jun 29, 2023. The former held 2.62 million shares worth $20.67 million, making up 3.01% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.94 million shares worth around $15.65 million, which represents about 2.23% of the total shares outstanding.
