Gray Television (NYSE:GTN.A) Stock Price Down 4.5% – Here’s Why

Gray Television, Inc. (NYSE:GTN.A)’s share price traded down 4.5% during trading on Tuesday . The company traded as low as $6.95 and last traded at $6.79. 1,415 shares changed hands during trading, a decline of 82% from the average session volume of 8,006 shares. The stock had previously closed at $7.11.

Gray Television Stock Performance

The stock has a market capitalization of $689.48 million, a P/E ratio of 4.53 and a beta of 0.94. The stock’s 50-day simple moving average is $7.05 and its 200 day simple moving average is $7.16. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13.

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

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 4.71%. The ex-dividend date was Friday, March 14th. Gray Television’s dividend payout ratio is currently 9.61%.

About Gray Television

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.