GTN Stock Recent News

Gray Television (GTN) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Investors interested in stocks from the Broadcast Radio and Television sector have probably already heard of Gray Television (GTN) and Netflix (NFLX). But which of these two stocks presents investors with the better value opportunity right now?

ATLANTA, April 09, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE: GTN) today announced that it will release its earnings results for the quarter ended, March 31, 2024 on Tuesday, May 7, 2024.

Gray Television is the second largest local television broadcaster in the US, with stations in 114 markets. My speculative buy thesis is based on America's increasing political divide and the potential for record-high political ad spending in the 2024 election cycle. Provided we get a normal ad cycle, GTN should be able to generate hundreds of millions in free cash flow that can go towards reducing debt and improving equity valuations.

Gray Television, Inc. (GTN) Q4 2023 Earnings Call Transcript

The TV channel operator didn't have a great fourth quarter. Its revenue, net loss, and top-line guidance didn't meet analyst expectations.

Gray Television (GTN) came out with a quarterly loss of $0.24 per share versus the Zacks Consensus Estimate of a loss of $0.23. This compares to earnings of $1.88 per share a year ago.

Gray Television (GTN) was a big mover last session on higher-than-average trading volume. The latest trend in earnings estimate revisions might not help the stock continue moving higher in the near term.

ATLANTA, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Gray Television, Inc. (NYSE: GTN) today announced that it will release its earnings results for the quarter ended, December 31, 2023 on Friday, February 23, 2024.

Gray Television is reshaping its balance sheet through recent acquisitions and divestitures, potentially leading to improved cash flow and stock valuation. In my view, the recent acquisitions of the television station WPGA in Macon, Georgia market, and the divestiture of KNIN may bring cash in hand and incoming FCF growth from new synergies. GTN's experienced management team and expertise in M&A suggest further inorganic growth and higher free cash flow margins in the future.