During the last session, Gray Television, Inc. (NYSE:GTN)’s traded shares were 2.24 million, with the beta value of the company hitting 1.56. At the end of the trading day, the stock’s price was $5.78, reflecting an intraday loss of -1.20% or -$0.07. The 52-week high for the GTN share is $10.69, that puts it down -84.95 from that peak though still a striking 5.88% gain since the share price plummeted to a 52-week low of $5.44. The company’s market capitalization is $561.82M, and the average intraday trading volume over the past 10 days was 1.41 million shares, and the average trade volume was 1.13 million shares over the past three months.
Gray Television, Inc. (NYSE:GTN) trade information
Gray Television, Inc. (GTN) registered a -1.20% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -1.20% in intraday trading to $5.78, hitting a weekly high. The stock’s 5-day price performance is -1.53%, and it has moved by -28.64% in 30 days. Based on these gigs, the overall price performance for the year is -35.56%. The short interest in Gray Television, Inc. (NYSE:GTN) is 5.5 million shares and it means that shorts have 3.79 day(s) to cover.
Gray Television, Inc. (GTN) estimates and forecasts
Statistics show that Gray Television, Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Gray Television, Inc. (GTN) shares have gone down -27.48% during the last six months, with a year-to-date growth rate more than the industry average at 371.94% against 24.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 87.50% this quarter and then jump 240.00% in the quarter after that. In the rating firms’ projections, revenue will increase 17.80% compared to the previous financial year.
Revenue for the current quarter is expected to be $824.98 million as predicted by 7 analyst(s). Meanwhile, a consensus of 6 analyst(s) estimates revenue growth to $853.51 million by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $801 million and $813 million respectively. In this case, analysts expect current quarter sales to grow by 3.00% and then jump by 5.00% in the coming quarter.
While earnings are projected to return 367.93% in 2024, the next five years will return 36.90% per annum.
GTN Dividends
Gray Television, Inc. is due to release its next quarterly earnings between May 03 and May 07. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Gray Television, Inc. is 0.32, with the dividend yield indicating at 5.54 percent, continuing the trend of increasing dividends in recent years.
Gray Television, Inc. (NYSE:GTN)’s Major holders
Gray Television, Inc. insiders own 6.15% of total outstanding shares while institutional holders control 87.67%, with the float percentage being 93.42%. Blackrock Inc. is the largest shareholder of the company, while 286 institutions own stock in it. As of Jun 29, 2023, the company held over 6.55 million shares (or 7.51% of all shares), a total value of $51.63 million in shares.
The next largest institutional holding, with 5.16 million shares, is of Dimensional Fund Advisors LP’s that is approximately 5.91% of outstanding shares. At the market price on Jun 29, 2023, these shares were valued at $40.66 million.
Also, the Mutual Funds coming in first place with the largest holdings of Gray Television, Inc. (GTN) shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. Data provided on Jun 29, 2023 indicates that Vanguard Total Stock Market Index Fund owns about 2.62 million shares. This amounts to just over 3.01 percent of the company’s overall shares, with a $20.67 million market value. The same data shows that the other fund manager holds slightly less at 1.94 million, or about 2.23% of the stock, which is worth about $15.65 million.
