Benchmark Co. Sticks to Its Buy Rating for Gray Television

By Jason Carr

Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on Gray Television (NYSE: GTN) today and set a price target of $21. The company’s shares closed yesterday at $15.25.

Kurnos wrote:

“We noted in our recent political primer that the Alaskan gubernatorial race has heated up once again, albeit not to the same degree, while Gray reaches the third largest number of toss- up/contested DMAs in our broadcast group, which bodes well for material upside. Change in Earnings Forecast Rating: Buy Current Price $15.25 Price Target $21.00 52-Wk Range $11.70 – $17.80 Shares Outstanding (mm) 73 Market Cap (mm) $1,106 Enterprise Value (mm) $2,837 Average Volume (000s) 811 Net Debt (mm) $1,731 Sector Weight Market Weight Daniel L. Kurnos, CFA 561-939-8262 FY Dec Q1 Q2 Q3 Q4 Total P/E EV/EBITDA EPS 2017E $0.14A $0.97A $0.21A $0.22E $1.55E 10x 2018E $0.30E $0.48E $0.50E $0.75E $2.03E 8x 2019E $0.27E $0.52E $0.35E $0.34E $1.49E 10x EBITDA 2017E $64A $86A $73A $75E $297E 10x 2018E $76E $93E $94E $119E $382E 7x 2019E $73E $98E $81E $80E $331E 9x Gray Television, Inc.”

According to, Kurnos is a 5-star analyst with an average return of 12.3% and a 57.9% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Liquidity Services, and Sinclair Broadcast.

Gray Television has an analyst consensus of Strong Buy, with a price target consensus of $20.

Gray Television’s market cap is currently $1.11B and has a P/E ratio of 8.43. The company has a book value ratio of 1.8801.

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Gray Television, Inc. is a television broadcasting company. It owns and operates television stations and digital assets in markets throughout the U.S. The company also broadcast secondary digital channels within a market. Gray Television was founded in 1897 and is headquartered in Atlanta, GA.