Gray Television Inc. (NYSE: GTN) stock fell -4.89% on Friday to $7.58 against a previous-day closing price of $7.97. With 1.95 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.93 million shares. During the session, the Broadcasting company that operates in wider Communication Services sector, reached to the highest price of $8.06 whereas the lowest price it dropped to was $7.55. The 52-week range on GTN shows that it touched its highest point at $19.04 and its lowest point at $6.50 during that stretch. It currently has a 1-year price target of $13.25. With its current market cap of 763.38 million, GTN has annualized dividend of $0.32 while the current yield stands at 4.22%. Beta for the stock currently stands at 1.61.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of GTN was up-trending over the past week, with a rise of 7.52%, but this was down by -6.77% over a month. Three-month performance surged to 1.07% while six-month performance fell -15.59%. The stock lost -59.27% in the past year, while it has lost -32.26% so far this year. A look at the trailing 12-month EPS for GTN yields 2.32 with Next year EPS estimates of 4.41. For the next quarter, that number is -0.35. This implies an EPS growth rate of 983.30% for this year and 688.00% for next year. EPS is expected to grow by 36.90% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 22.50%.
Float and Shares Shorts:
At present, 93.00 million GTN shares are outstanding with a float of 85.21 million shares on hand for trading. On Aug 30, 2023, short shares totaled 5.17 million, which was 5.42% higher than short shares on Jul 30, 2023. In addition to Mr. Hilton Hatchett Howell Jr. as the firm’s Exec. Chairman & CEO, Mr. Donald Patrick LaPlatney serves as its Pres, Co-CEO & Director.
Through their ownership of 89.49% of GTN’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 53.38% of GTN, in contrast to 32.38% held by mutual funds. Shares owned by individuals account for 13.86%. As the largest shareholder in GTN with 6.30% of the stake, BlackRock Fund Advisors holds 5,498,558 shares worth 5,498,558. A second-largest stockholder of GTN, Dimensional Fund Advisors LP, holds 5,159,823 shares, controlling over 5.91% of the firm’s shares. The Vanguard Group, Inc. is the third largest shareholder in GTN, holding 4,728,295 shares or 5.42% stake. With a 3.01% stake in GTN, the Vanguard Total Stock Market ETF is the largest stakeholder. A total of 2,622,613 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 2.19% of GTN stock, is the second-largest Mutual Fund holder. It holds 1,908,410 shares valued at 15.38 million. DFA US Small Cap Value Portfolio holds 1.89% of the stake in GTN, owning 1,647,570 shares worth 13.28 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jun 29, 2023, GTN reported revenue of $868.00M and operating income of $218.00M. The EBITDA in the recently reported quarter was $313.00M and diluted EPS was $0.91.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for GTN since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With GTN analysts setting a high price target of $20.00 and a low target of $5.00, the average target price over the next 12 months is $13.25. Based on these targets, GTN could surge 163.85% to reach the target high and fall by -34.04% to reach the target low. Reaching the average price target will result in a growth of 74.8% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded GTN stock several times over the past three months with 5 Buys and 2 Sells. In these transactions, 7,000 shares were bought while 427 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 17 over the past year. The total number of shares bought during that period was 1,647,770 while 283,230 shares were sold.