Gray Television (NYSE:GTN.A) Shares Gap Down to $8.70

Gray Television, Inc. (NYSE:GTN.A)’s share price gapped down prior to trading on Monday . The stock had previously closed at $8.70, but opened at $8.21. Gray Television shares last traded at $8.21, with a volume of 105 shares changing hands.

Analysts Set New Price Targets

Separately, TheStreet cut shares of Gray Television from a “c-” rating to a “d+” rating in a report on Tuesday, March 12th.

Gray Television Stock Performance

The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18. The stock’s 50-day moving average is $7.28 and its 200 day moving average is $8.05. The stock has a market cap of $798.01 million, a price-to-earnings ratio of -5.91 and a beta of 1.30.

Gray Television (NYSE:GTN.A) last released its earnings results on Friday, February 23rd. The company reported ($0.24) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.08). The business had revenue of $864.00 million during the quarter. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%.

Gray Television Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were issued a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 3.90%. Gray Television’s dividend payout ratio (DPR) is currently -23.02%.

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.