The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell".
The average consensus recommendation for the broadcasting peer group is "buy".
Wall Street's median 12-month price target for Gray Media Inc is $6.50, about 51.9% above its August 6 closing price of $4.28. The stock recently traded at 40 times the next 12-month earnings versus a P/E of 4 three months ago.
Gray Media sees Q3 2026 total revenue between $935 million and $965 million. The company expects Q3 2026 political advertising revenue between $165 million and $185 million.
Gray Media also anticipates 2026 capital expenditures of $120 million to $130 million.
Gray Media said U.S. local TV broadcaster's Q2 revenue grew 9% year over year and beat analyst expectations. Net income for Q2 was $14 million, also beating analyst estimates.
The company authorized a $250 million debt repurchase program through 2027.
