Timing, Fundamentals, and Diversification of Gray Television Inc. (GTN)

Gray Television Inc. (NYSE: GTN) closed the day trading at $11.01 down -2.39% from the previous closing price of $11.28. In other words, the price has decreased by -$0.27 from its previous closing price. On the day, 642410 shares were traded. GTN stock price reached its highest trading level at $11.60 during the session, while it also had its lowest trading level at $10.89.

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For a better understanding of GTN, let’s look at its different ratios. It provided that stocks Price–to–Cash (P/C) ratio for the trailing twelve months (TTM) is standing at 7.27 whereas its Price-to-Free Cash Flow (P/FCF) for the term is 4.53. For the most recent quarter (mrq), Quick Ratio is recorded 2.10 and its Current Ratio is at 2.10. In the meantime, Its Debt-to-Equity ratio is 3.42 whereas as Long-Term Debt/Eq ratio is at 3.41.

Upgrades & Downgrades

In addition, analysts’ ratings and any changes thereto give investors an idea of the stock’s future direction. In the most recent recommendation for the company, Wells Fargo on November 09, 2022, Downgraded its rating to Underweight and sets its target price to $7 from $25 previously.

On October 15, 2020, Loop Capital started tracking the stock assigning a Buy rating and target price of $21.Loop Capital initiated its Buy rating on October 15, 2020, with a $21 target price.

Insider Transactions:

The insider trade also gives investors a glimpse into the future direction of stock prices, which can be beneficial to investors. A recent insider transaction in this stock occurred on Nov 15 when BOGER RICHARD LEE bought 3,200 shares for $11.35 per share. The transaction valued at 36,320 led to the insider holds 44,738 shares of the business.

McTear Paul bought 5,000 shares of GTN for $52,050 on Nov 11. The Director now owns 67,759 shares after completing the transaction at $10.41 per share. On Nov 10, another insider, LaPlatney D Patrick, who serves as the Director of the company, bought 10,000 shares for $9.99 each. As a result, the insider paid 99,900 and bolstered with 462,639 shares of the company.

Valuation Measures:

As of this moment, Gray’s Price-to-Earnings (P/E) ratio for their current fiscal year is 4.18, and their Forward P/E ratio for the next fiscal year is 10.41. The expected Price-to-Earnings-to-Growth (PEG) calculation for the next 5 years is 0.11. For the stock, the TTM Price-to-Sale (P/S) ratio is 0.31 while its Price-to-Book (P/B) ratio in mrq is 0.52.

Stock Price History:

Over the past 52 weeks, GTN has reached a high of $24.81, while it has fallen to a 52-week low of $8.61. The 50-Day Moving Average of the stock is 14.53, while the 200-Day Moving Average is calculated to be 18.63.

Shares Statistics:

Over the past 3-months, GTN traded about 782.10K shares per day on average, while over the past 10 days, GTN traded about 1.43M shares per day. A total of 91.00M shares are outstanding, with a floating share count of 75.81M. Insiders hold about 1.40% of the company’s shares, while institutions hold 90.40% stake in the company. Shares short for GTN as of Oct 13, 2022 were 3.65M with a Short Ratio of 3.49M, compared to 4.14M on Sep 14, 2022. Therefore, it implies a Short% of Shares Outstanding of 3.92% and a Short% of Float of 4.40%.

Dividends & Splits

GTN’s forward annual dividend rate is 0.32, up from 0.08 a year ago. Against a Trailing Annual Dividend Yield of 0.71%, it implies a Forward Annual Dividend Yield of 2.12%. The current Payout Ratio is 9.00% for GTN, which recently paid a dividend on Dec 29, 2022 with an ex-dividend date of Sep 13, 2022. Stock splits for the company last occurred on Sep 30, 1998 when the company split stock in a 3:2 ratio.

Earnings Estimates

Current recommendations for the stock of the company come from 7 analysts. On average, analysts expect EPS of $1.41 for the current quarter, with a high estimate of $1.55 and a low estimate of $1.3, while EPS last year was -$0.32. The consensus estimate for the next quarter is $2.8, with high estimates of $2.92 and low estimates of $2.58.

Analysts are recommending an EPS of between $6.09 and $5.39 for the fiscal current year, implying an average EPS of $5.67. EPS for the following year is $2.14, with 7 analysts recommending between $4.29 and $1.35.

Revenue Estimates

A total of 6 analysts have provided revenue estimates for GTN’s current fiscal year. The highest revenue estimate was $3.81B, while the lowest revenue estimate was $3.78B, resulting in an average revenue estimate of $3.79B. In the same quarter a year ago, actual revenue was $2.41B, up 57.20% from the average estimate. Based on 6 analysts’ estimates, the company’s revenue will be $3.37B in the next fiscal year. The high estimate is $3.43B and the low estimate is $3.3B. The average revenue growth estimate for next year is down -11.20% from the average revenue estimate for this year.