Movers and SHAKERS
Gray Television Inc. (GTN)
Georgia Is On Its Mind For an Extraordinary Political Year
Gray Television, Inc. operates as a television broadcast company in the United States. As of April 6, 2010, it operated 36 television stations in 30 markets, including 17 affiliated with CBS Inc.; 10 affiliated with the National Broadcasting Company, Inc.; 8 affiliated with the American Broadcasting Company (ABC); and 1 affiliated with FOX Entertainment Group, Inc. (FOX). The company also operated 39 digital second channels comprising 1 affiliated with ABC, 4 affiliated with FOX, 7 affiliated with CW Network, LLC, 18 affiliated with Twentieth Television, Inc., 2 affiliated with Universal Sports Network, and 7 local news/weather channels. Gray Television, Inc. was founded in 1897 and is headquartered in Atlanta, Georgia.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Beats Q3 expectations. Revenues beat even the most recent company update, fueled by record Political advertising, $128 million in the latest quarter. As a result of this high margin advertising, cash flow, as measured by adjusted EBITDA, exceeded expectations, $261 million versus our $197 million estimate.
Extraordinary Political year. The company once again raised its Political expectations, from $300 million to north of $380 million for 2020. Notably, management believes that the Senate run-off in Georgia could further boost Political advertising into December and early 2021 ...
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.