Gray Television, Inc. [NYSE: GTN] price plunged by -2.66 percent to reach at -$0.16. The company report on March 4, 2024 at 8:45 AM that Gray Television Surpasses Major Retrans Renewal Milestone with No Consumer Disruptions.
“Consistent with Gray’s history of retransmission renewal negotiations since the early 1990s, these negotiations, while often difficult and always complex, were all conducted without any disruption to consumers,” said Gray’s Senior Vice President Rob Folliard. “We sincerely appreciate the cooperative, constructive efforts of our MVPD partners in this renewal cycle.”.
The one-year GTN stock forecast points to a potential upside of 43.86. The average equity rating for GTN stock is currently 2.43, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on Gray Television, Inc. [GTN]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for GTN shares is $10.42 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on GTN stock is a recommendation set at 2.43. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Barrington Research have made an estimate for Gray Television, Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on February 27, 2024. While these analysts kept the previous recommendation, Wells Fargo raised their target price from $25 to $7. The new note on the price target was released on November 09, 2022, representing the official price target for Gray Television, Inc. stock. Previously, the target price had yet another raise to $26, while Wells Fargo analysts kept a Overweight rating on GTN stock.
The Average True Range (ATR) for Gray Television, Inc. is set at 0.37, with the Price to Sales ratio for GTN stock in the period of the last 12 months amounting to 0.17. The Price to Book ratio for the last quarter was 0.28, with the Price to Cash per share for the same quarter was set at 0.22. Price to Free Cash Flow for GTN in the course of the last twelve months was 1.90 with Quick ratio for the last quarter at 1.14.
GTN Stock Performance Analysis:
Gray Television, Inc. [GTN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.21. With this latest performance, GTN shares dropped by -26.23% in over the last four-week period, additionally sinking by -21.37% over the last 6 months – not to mention a drop of -37.43% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for GTN stock in for the last two-week period is set at 33.89, with the RSI for the last a single of trading hit 34.38, and the three-weeks RSI is set at 35.64 for Gray Television, Inc. [GTN]. The present Moving Average for the last 50 days of trading for this stock 7.95, while it was recorded at 5.90 for the last single week of trading, and 7.84 for the last 200 days.
Insight into Gray Television, Inc. Fundamentals:
Gray Television, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.14 and a Current Ratio set at 1.18.
GTN Stock EPS
With the latest financial reports released by the company, Gray Television, Inc. posted -0.48/share EPS, while the average EPS was predicted by analysts to be reported at -0.26/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -84.60%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for GTN. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Gray Television, Inc. go to 36.90%.
Gray Television, Inc. [GTN] Institutonal Ownership Details
The top three institutional holders of GTN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in GTN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in GTN stock with ownership which is approximately 5.8325%.
