Barrington analyst James Goss maintained a Buy rating on Gray Television (GTN) today and set a price target of $26. The company’s shares opened today at $14.40, close to its 52-week low of $13.60.
Goss observed:
“We view the recent slide in the stock price as temporary, and likely to be reversed as 2020 political contributions near. Opinion OUTPERFORM (12 mo) $26 78% LT EPS Cap (mil) $1,472 Enterprise Value (mil) $6,674 Shares Outstanding (mil) 101 Volume 947,704 Financial / Equity (LTM) 19.3% LT Debt/Capital 68.2% EV/EBITDA (LTM) 10.4x Price/Sales (LTM) 0.9x James C. Goss, CFA (312) 634-6355 Patrick W. Sholl (312) 634-6391 FactSet Research Systems Revenue ($ mil)(est. in EPS ($)(est.”
According to TipRanks.com, Goss is a 5-star analyst with an average return of 8.5% and a 55.7% success rate. Goss covers the Services sector, focusing on stocks such as Lions Gate Ent Corp Cl A, Nexstar Media Group Inc, and Sirius XM Holdings Inc.
Currently, the analyst consensus on Gray Television is a Strong Buy with an average price target of $26, representing an 80.6% upside. In a report issued on August 8, Noble Financial also maintained a Buy rating on the stock with a $23 price target.
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Based on Gray Television’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $508 million and net profit of $44 million. In comparison, last year the company had a net profit of $40.71 million.
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Gray Television, Inc. is a television broadcasting company, which engages in owning and operating television stations and digital assets in markets throughout the United States. It also sells Internet advertising on its stations websites. The company was founded in January 1897 and is headquartered in Atlanta, GA.
