Gray Television (GTN) Releases Earnings Results, Beats Expectations By $0.06 EPS

Gray Television (GTN) reported quarterly earnings results on Monday, May-9-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.12. The company posted revenue of $173.70 million in the period, compared to analysts expectations of $174.97 million. The company’s revenue was up 30.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.10 EPS.

Gray Television opened for trading at $13.26 and hit $13.64 on the upside on Friday, eventually ending the session at $13.64, with a gain of 1.79% or 0.24 points. The heightened volatility saw the trading volume jump to 6,82,610 shares. Company has a market cap of $992 M.

In a different news, on Apr 7, 2016, Hugh Norton (director) sold 7,000 shares at $0.00 per share price. According to the SEC, on Nov 13, 2015, Richard Lee Boger (director) sold 12,600 shares at $0.00 per share price.

Gray Television Inc. (Gray) is a broadcast company which owns and/or operates television stations and digital assets in markets throughout the United States. Gray owns and operates television stations in 44 television markets broadcasting 139 program streams including 76 affiliates of the Big Four networks (ABC CBS NBC and FOX). Gray’s owned and/or operated stations include 26 channels affiliated with the CBS Network 24 channels affiliated with the NBC Network 16 channels affiliated with the ABC Network and 10 channels affiliated with the FOX Network. Gray reaches approximately 8.1% of total United States television households.

Gray Television

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