Gray Television (NYSE:GTN.A) Shares Gap Down – Here’s Why

Gray Television, Inc. (NYSE:GTN.A) gapped down prior to trading on Monday . The stock had previously closed at $8.55, but opened at $8.18. Gray Television shares last traded at $8.00, with a volume of 163 shares changing hands.

Gray Television Trading Down 6.5 %

The business has a 50 day moving average of $7.02 and a two-hundred day moving average of $7.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 2.76. The firm has a market cap of $811.33 million, a P/E ratio of 5.33 and a beta of 1.24.

Gray Television (NYSE:GTN.A) last posted its quarterly earnings results on Thursday, February 27th. The company reported $1.59 earnings per share for the quarter. Gray Television had a return on equity of 9.60% and a net margin of 5.69%. The business had revenue of $1.05 billion for the quarter.

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 4.01%. The ex-dividend date is Friday, March 14th. Gray Television’s payout ratio is 9.61%.

Gray Television Company Profile

Gray Television, Inc, a television broadcast company, owns and operates television stations and digital assets in the United States. As of February 28, 2019, it owned and operated television stations in 91 television markets broadcasting approximately 400 program streams, including approximately 150 channels affiliated with the CBS Network, the NBC Network, the ABC Network, and the FOX Network.