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Gray Television Inc (GTN)


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Upturn Advisory Summary
10/15/2025: GTN (1-star) is a SELL. SELL since 4 days. Simulated Profits (-19.66%). Updated daily EoD!
1 Year Target Price $6.08
1 Year Target Price $6.08
3 | Strong Buy |
0 | Buy |
2 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -74.08% | Avg. Invested days 25 | Today’s Advisory SELL |
Upturn Star Rating ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 522.46M USD | Price to earnings Ratio 3.02 | 1Y Target Price 6.08 |
Price to earnings Ratio 3.02 | 1Y Target Price 6.08 | ||
Volume (30-day avg) 6 | Beta 1.19 | 52 Weeks Range 2.76 - 6.22 | Updated Date 10/16/2025 |
52 Weeks Range 2.76 - 6.22 | Updated Date 10/16/2025 | ||
Dividends yield (FY) 6.74% | Basic EPS (TTM) 1.53 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin 5.64% | Operating Margin (TTM) 13.47% |
Management Effectiveness
Return on Assets (TTM) 4.72% | Return on Equity (TTM) 7.23% |
Valuation
Trailing PE 3.02 | Forward PE 2.32 | Enterprise Value 6733239553 | Price to Sales(TTM) 0.15 |
Enterprise Value 6733239553 | Price to Sales(TTM) 0.15 | ||
Enterprise Value to Revenue 1.9 | Enterprise Value to EBITDA 6.38 | Shares Outstanding 92500245 | Shares Floating 82148411 |
Shares Outstanding 92500245 | Shares Floating 82148411 | ||
Percent Insiders 7.23 | Percent Institutions 79.27 |
Upturn AI SWOT
Gray Television Inc

Company Overview
History and Background
Gray Television was founded in 1946 as a single television station in Albany, Georgia. Over the years, it expanded through acquisitions to become one of the largest television broadcast companies in the United States.
Core Business Areas
- Television Broadcasting: Owns and operates television stations, providing programming and advertising services.
Leadership and Structure
Hilton H. Howell, Jr. serves as the Executive Chairman & CEO. The organizational structure includes various departments responsible for station operations, sales, programming, and corporate functions.
Top Products and Market Share
Key Offerings
- Television Advertising: Sells advertising time on its television stations. Market share varies by local market. Competitors include other local TV stations (Nexstar, Sinclair), cable providers (Comcast, Charter), and digital advertising platforms (Google, Facebook).
- Re-transmission Consent Fees: Negotiates fees with cable and satellite providers for the right to retransmit Gray's broadcast signals. Competitors are other local content providers and national networks.
Market Dynamics
Industry Overview
The television broadcasting industry is facing challenges from cord-cutting and the rise of streaming services, but local news and sports remain strong draws.
Positioning
Gray Television focuses on owning and operating stations in mid-sized and smaller markets, often with a strong emphasis on local news and community involvement. This focus on local news provides a competitive advantage.
Total Addressable Market (TAM)
The total advertising market in the US is hundreds of billions of dollars. Gray's positioning allows it to capture a portion of this by focusing on local advertising revenue streams.
Upturn SWOT Analysis
Strengths
- Extensive Network of Local TV Stations
- Focus on Local News and Community Programming
- Strong Relationships with Affiliates (e.g., NBC, CBS, ABC)
- Experienced Management Team
Weaknesses
- Dependence on Advertising Revenue
- Vulnerability to Cord-Cutting Trends
- High Debt Levels from Acquisitions
- Susceptible to economic downturns
Opportunities
- Expansion of Digital Offerings
- Growth in Re-transmission Consent Fees
- Acquisition of Additional TV Stations
- Increased Demand for Local Content
Threats
- Continued Cord-Cutting
- Competition from Streaming Services
- Decline in Advertising Rates
- Changes in FCC Regulations
Competitors and Market Share
Key Competitors
- NXST
- SBGI
- TEGNA
Competitive Landscape
Gray Television competes effectively by focusing on local news and smaller markets, but faces competition from larger national broadcast companies and digital platforms. The company is constantly looking for new avenues to grow its revenue streams.
Major Acquisitions
Quincy Media
- Year: 2021
- Acquisition Price (USD millions): 925
- Strategic Rationale: Expanded Gray's footprint and added stations in attractive markets.
Growth Trajectory and Initiatives
Historical Growth: Gray Television has historically grown through acquisitions of local television stations.
Future Projections: Future growth projections are subject to market conditions and company performance. Analyst estimates can be found on financial websites.
Recent Initiatives: Recent initiatives often include investments in digital platforms and local content creation.
Summary
Gray Television is a major player in the local broadcasting industry, focusing on smaller and mid-sized markets. Its strong local news programming is a key strength, though cord-cutting remains a significant challenge. The company's growth strategy relies heavily on acquisitions, increasing debt. Adapting to digital platforms is essential for future success.
Peer Comparison
Sources and Disclaimers
Data Sources:
- Company Reports
- Industry Analysis Reports
- Financial News Outlets
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market data is subject to change.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Gray Television Inc
Exchange NYSE | Headquaters Atlanta, GA, United States | ||
IPO Launch date 2002-08-30 | Executive Chairman & CEO Mr. Hilton Hatchett Howell Jr. | ||
Sector Communication Services | Industry Broadcasting | Full time employees 9118 | Website https://gray.tv |
Full time employees 9118 | Website https://gray.tv |
Gray Media, Inc., a multimedia company, owns and/or operates television stations and digital assets in the United States. The company operates through Broadcasting, Production Companies, and Other segments. It also owns Gray Digital Media, a digital agency that provides clients with digital marketing strategies; and operates video production companies and studio production facilities. The company was formerly known as Gray Television, Inc. and changed its name to Gray Media, Inc. in January 2025. Gray Media, Inc. was founded in 1891 and is headquartered in Atlanta, Georgia.

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