That’s a question Zacks Equity Research sought to answer on Friday, as the broadcast TV station ownership group has enjoyed a 20.8% year-over-year gain in its NYSE-traded shares but remains far below where “GTN” was trading today in 2021.
In fact, Gray Media stock is down some 74% from February 2021, and in March 2022 was trading in the low-$22 range.
By mid-December 2024, Gray shares had slipped to just below $3 a share before moderating across the last 13 months.
Today, Zacks has a “Buy” rating for Gray shares and places a Value grade of “A” on the stock.
“Investors will also notice that GTN has a PEG ratio of 0.50,” Zacks says. “This figure is similar to the commonly-used P/E ratio, with the PEG ratio also factoring in a company’s expected earnings growth rate. GTN’s industry currently sports an average PEG of 1.40. Over the last 12 months, GTN’s PEG has been as high as 5.49 and as low as -6.48, with a median of 0.48.”
Meanwhile, GTN has a P/S ratio of 0.15. This compares to its industry’s average P/S of 0.4.
This, Zacks concludes, helps show that Gray Media is likely being undervalued right now.
As of the end of 2025, Gray’s top institutional holders were comprised of BlackRock (at 7.6% equity interest); Capital Management Corp. (at 6.6%); and Vanguard Group (at 6.5%).
