Friday, March 1, 2019

Gray Television (GTN)

Politically speaking.

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). 

Michael Kupinski, DOR, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to full report for price target, fundamental analysis and rating.

 

• Record quarter. The company exceeded our Q4 adj. cash flow (EBITDA)
  expectations on record revenues, bolstered by higher than expected political
  revenues of $83.2 million versus our $81.6 million estimate. The company also
  highlighted the Raycom acquisition, expected cost synergies, and provided 1Q
  2019 guidance. 
• Q4 Revenue and EBITDA
  come in strong.  Record revenues in Q4 2018 of $328.2 million exceeded
  our estimates of $321.1 million. Full year 2018 revenues were $1.084 billion.
  Q4 Adj. EBITDA of $163.5 million beat expectations by 5.4% compar…
  
  
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*Analyst
certification and important disclosures included in 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.