Gray Television, Inc., a television broadcast company, owns and operates television stations and digital assets in the United States.
Very undervalued with acceptable track record.
Share Price & News
How has Gray Television's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: GTN's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: GTN underperformed the US Media industry which returned -7.1% over the past year.
Return vs Market: GTN underperformed the US Market which returned 4.6% over the past year.
Price Volatility Vs. Market
How volatile is Gray Television's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 month ago | Simply Wall StDid Changing Sentiment Drive Gray Television's (NYSE:GTN) Share Price Down A Worrying 54%?
2 months ago | Simply Wall StA Sliding Share Price Has Us Looking At Gray Television, Inc.'s (NYSE:GTN) P/E Ratio
2 months ago | Simply Wall StWhat Is Gray Television's (NYSE:GTN) P/E Ratio After Its Share Price Tanked?
Is Gray Television undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: GTN ($15.15) is trading below our estimate of fair value ($41.26)
Significantly Below Fair Value: GTN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: GTN is good value based on its PE Ratio (7.6x) compared to the Media industry average (10.8x).
PE vs Market: GTN is good value based on its PE Ratio (7.6x) compared to the US market (15.1x).
Price to Earnings Growth Ratio
PEG Ratio: GTN is good value based on its PEG Ratio (0.5x)
Price to Book Ratio
PB vs Industry: GTN is good value based on its PB Ratio (1x) compared to the US Media industry average (1.3x).
How is Gray Television forecast to perform in the next 1 to 3 years based on estimates from 7 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: GTN's forecast earnings growth (15.7% per year) is above the savings rate (2.2%).
Earnings vs Market: GTN's earnings (15.7% per year) are forecast to grow slower than the US market (21.6% per year).
High Growth Earnings: GTN's earnings are forecast to grow, but not significantly.
Revenue vs Market: GTN's revenue (5.3% per year) is forecast to grow slower than the US market (8.9% per year).
High Growth Revenue: GTN's revenue (5.3% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: Insufficient data to determine if GTN's Return on Equity is forecast to be high in 3 years time
How has Gray Television performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: GTN has high quality earnings.
Growing Profit Margin: GTN's current net profit margins (9.3%) are lower than last year (11.6%).
Past Earnings Growth Analysis
Earnings Trend: GTN's earnings have grown significantly by 27.8% per year over the past 5 years.
Accelerating Growth: GTN's earnings growth over the past year (23.8%) is below its 5-year average (27.8% per year).
Earnings vs Industry: GTN earnings growth over the past year (23.8%) exceeded the Media industry 3.6%.
Return on Equity
High ROE: GTN's Return on Equity (11.6%) is considered low.
How is Gray Television's financial position?
Financial Position Analysis
Short Term Liabilities: GTN's short term assets ($721.0M) exceed its short term liabilities ($243.0M).
Long Term Liabilities: GTN's short term assets ($721.0M) do not cover its long term liabilities ($4.6B).
Debt to Equity History and Analysis
Debt Level: GTN's debt to equity ratio (171.9%) is considered high.
Reducing Debt: GTN's debt to equity ratio has reduced from 317.2% to 171.9% over the past 5 years.
Debt Coverage: GTN's debt is not well covered by operating cash flow (13.3%).
Interest Coverage: GTN's interest payments on its debt are not well covered by EBIT (2.7x coverage).
What is Gray Television's current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate GTN's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate GTN's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if GTN's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if GTN's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: GTN is not paying a notable dividend for the US market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of GTN's dividend in 3 years as they are not forecast to pay a notable one for the US market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Hilton Howell (57yo)
Mr. Hilton Hatchett Howell, Jr. has been the Chief Executive Officer of Gray Television, Inc. since August 20, 2008 and also served its President since June 2013 until January 03, 2019. Mr. Howell has been ...
CEO Compensation Analysis
Compensation vs Market: Hilton's total compensation ($USD8.89M) is above average for companies of similar size in the US market ($USD4.92M).
Compensation vs Earnings: Hilton's compensation has increased by more than 20% in the past year.
|Executive Chairman & CEO||1.33yrs||US$8.89m||3.82% $56.6m|
|Executive VP & CFO||21.58yrs||US$4.50m||0.43% $6.4m|
|Executive VP & COO of Local Media||1.83yrs||US$3.39m||0.20% $2.9m|
|Executive VP||4.25yrs||US$4.57m||0.46% $6.9m|
|Senior VP & Chief Accounting Officer||no data||no data||0.026% $390.6k|
|Senior VP & Chief Technology Officer||1.33yrs||no data||no data|
|Vice President of Corporate Development||6.83yrs||no data||no data|
|Senior Vice President of Sales Operations||4.67yrs||no data||no data|
|Group Director of Marketing & Client Services||1.33yrs||no data||no data|
Experienced Management: GTN's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.
|Executive Chairman & CEO||1.33yrs||US$8.89m||3.82% $56.6m|
|Director Emeritus||3yrs||US$36.50k||3.41% $50.5m|
|Independent Director||29.33yrs||US$235.00k||0.055% $821.2k|
|Lead Independent Director||4.08yrs||US$246.25k||0.088% $1.3m|
|Independent Director||1.33yrs||US$207.50k||0.045% $670.4k|
|Independent Director||17.33yrs||US$205.00k||0.069% $1.0m|
|Independent Director||3.67yrs||US$220.00k||0.031% $465.9k|
|Independent Director||3.92yrs||US$205.00k||0.028% $417.1k|
Experienced Board: GTN's board of directors are considered experienced (4 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Gray Television, Inc.'s company bio, employee growth, exchange listings and data sources
- Name: Gray Television, Inc.
- Ticker: GTN
- Exchange: NYSE
- Founded: 1897
- Industry: Broadcasting
- Sector: Media
- Market Cap: US$1.482b
- Shares outstanding: 98.02m
- Website: https://www.gray.tv
Number of Employees
- Gray Television, Inc.
- 4370 Peachtree Road, NE
- Suite 400
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|GTN.A||NYSE (New York Stock Exchange)||Class A Common Stock||US||USD||Jan 1980|
|GTN||NYSE (New York Stock Exchange)||Yes||Common Stock||US||USD||Sep 1996|
|GCZB||DB (Deutsche Boerse AG)||Yes||Common Stock||DE||EUR||Sep 1996|
Gray Television, Inc., a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network. The company also broadcasts secondary digital channels affiliated to ABC, CBS, and FOX, as well as channels affiliated with various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, This TV Network, Antenna TV, Telemundo, Cozi, Heroes and Icons, and MOVIES! Network; and local news/weather channels in various markets. In addition, it is also involved in the video program production, marketing, and digital businesses including Raycom Sports, Tupelo-Raycom, and RTM Studios; and production of PowerNation programs and content. The company was formerly known as Gray Communications Systems, Inc. and changed its name to Gray Television, Inc. in August 2002. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/05/28 03:08|
|End of Day Share Price||2020/05/27 00:00|