Last $10.48 USD
Change Today -0.01 / -0.10%
Volume 128.0K
GTN On Other Exchanges
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As of 12:15 PM 11/28/14 All times are local (Market data is delayed by at least 15 minutes).

gray television inc (GTN) Snapshot

Open
$10.46
Previous Close
$10.49
Day High
$10.64
Day Low
$10.41
52 Week High
12/31/13 - $15.17
52 Week Low
10/13/14 - $7.16
Market Cap
601.5M
Average Volume 10 Days
337.6K
EPS TTM
$0.45
Shares Outstanding
52.5M
EX-Date
03/16/09
P/E TM
23.6x
Dividend
--
Dividend Yield
--
Current Stock Chart for GRAY TELEVISION INC (GTN)

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gray television inc (GTN) Details

Gray Television, Inc. operates as a television broadcast company in the United States. As of February 1, 2014, the company owned and/or operated television stations in 34 television markets broadcasting a total of 110 programming streams, including 24 affiliates of the CBS Network, 14 affiliates of the NBC Network, 9 affiliates of the ABC Network, and 5 affiliates of the FOX Network. It also broadcasts secondary digital channels that are affiliated to CW Network or the CW Plus Network, MyNetworkTV, the MeTV Network, This TV Network, Antenna TV, Live Well Network, and Telemudo. In addition, the company broadcasts nine local news/weather channels. The company was founded in 1897 and is headquartered in Atlanta, Georgia.

2,093 Employees
Last Reported Date: 03/11/14
Founded in 1897

gray television inc (GTN) Top Compensated Officers

Vice Chairman, Chief Executive Officer, Presi...
Total Annual Compensation: $1.0M
Chief Financial Officer and Senior Vice Presi...
Total Annual Compensation: $610.7K
Senior Vice President of Business Affairs, Ge...
Total Annual Compensation: $610.7K
Compensation as of Fiscal Year 2013.

gray television inc (GTN) Key Developments

Gray Television Reaches Agreement in Principle With NBC To Renew All Gray NBC Affiliations Nationwide

Gray Television Inc. announced that it has reached an agreement in principle with NBC Network that extends and renews all of Gray's existing NBC network affiliations, which cover 24 stations in 21 television markets nationwide. The agreement in principle includes early renewals for all 24 Gray-owned NBC affiliates: WSAZ in Charleston-Huntington, West Virginia; WOWT in Omaha, Nebraska; WMTV in Madison, Wisconsin; WNDU in South Bend, Indiana; WITN in Greenville, North Carolina; KSNB in Lincoln, Nebraska; WILX in Lansing, Michigan; KVLY in Fargo, North Dakota; WEAU in Eau Claire, Wisconsin; KFYR, KMOT, KUMV and KQCD in Minot-Bismarck-Dickinson, North Dakota; WJHG in Panama City, Florida; WRGX in Dothan, Alabama; KALB in Alexandria, Louisiana; KGNS in Laredo, Texas; KKCO in Grand Junction, Colorado; KBGF in Great Falls, Montana; WTAP in Parkersburg, West Virginia; KCWY in Casper, Wyoming; KCHY in Cheyenne, Wyoming; KTVH in Helena, Montana; and KNOP in North Platte, Nebraska.

Gray Television Renews All CW Network Affiliation Agreements

Gray Television Inc. announced that it has entered into multi-year agreements with the CW Network that extend and renew the network affiliations for 14 Gray owned and/or operated CW Network and CW Plus Network affiliated stations and launch one new affiliate in Casper, Wyoming. When combined with the recently launched CW affiliated channel on Gray's WTVG in Toledo, Ohio, today's announcement will soon provide Gray with 16 CW and CW Plus affiliates across its 44 markets. The stations covered by the new affiliation agreements are WKYT in Lexington, Kentucky; WQCW in Charleston-Huntington, West Virginia; KWTX in Waco, Texas; KBTX in Bryan-College Station, Texas; KSFY in Sioux Falls, South Dakota; KNOE in Monroe-El Dorado, Louisiana; WSWG in Albany, Georgia; WJHG in Panama City, Florida; WTVY in Dothan, Alabama; WBKO in Bowling Green, Kentucky; WTOK in Meridian, Mississippi; and KGWN in Cheyenne, Wyoming. In addition, the new affiliation agreements will cover two stations to which Gray currently provides services, KJCT in Grand Junction, Colorado, and KMTF in Helena, Montana, effective upon Gray's anticipated acquisition of those stations in the next few weeks. Gray will launch CW Plus on KCWY in Casper, Wyoming, on January 26, 2015.

Gray Television Inc. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Revenue Guidance for the Fourth Quarter of 2014; Provides Capital Expenditure Guidance for 2014

Gray Television Inc. announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported revenue (less agency commissions) of $131,702,000 compared to $88,288,000 a year ago. Operating income was $41,156,000 compared to $24,220,000 a year ago. Income before income tax was $22,548,000 compared to $11,564,000 a year ago. Net income was $13,940,000 or $0.24 per basic and dilutes share compared to $7,073,000 or $0.12 per basic and dilutes share a year ago. Purchase of property and equipment was $9,996,000 compared to $5,953,000 a year ago. Free cash flow was $25,309,000 compared to $13,319,000 a year ago. For the nine months, the company reported revenue (less agency commissions) of $330,248,000 compared to $250,742,000 a year ago. Operating income was $81,752,000 compared to $60,592,000 a year ago. Income before income tax was $27,151,000 compared to $22,802,000 a year ago. Net income was $16,808,000 or $0.29 per basic and dilutes share compared to $13,087,000 or $0.23 per basic and dilutes share a year ago. Net cash provided by operating activities was $88,404,000 compared to $51,590,000 a year ago. Purchase of property and equipment was $20,452,000 compared to $18,441,000 a year ago. Free cash flow was $41,644,000 compared to $27,021,000 a year ago. For the fourth quarter of 2014, the company expects revenue (less agency commissions) in the range from $171,000,000 to 4174,000,000. Political revenue will range between $46.0 million and $47.0 million bringing anticipated full year 2014 political revenue to range between $83.0 million and $84.0 million. For fiscal 2014, the company expects capital expenditure to be in between $5 million to $10 million.

 

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Industry Analysis

GTN

Industry Average

Valuation GTN Industry Range
Price/Earnings 27.8x
Price/Sales 1.4x
Price/Book 3.1x
Price/Cash Flow 9.9x
TEV/Sales NM Not Meaningful
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