Gray Television (NYSE:GTN.A) Shares Gap Down to $8.50

Gray Television, Inc. (NYSE:GTN.A)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $8.50, but opened at $8.04. Gray Television shares last traded at $8.04, with a volume of 101 shares changing hands.

Wall Street Analysts Forecast Growth

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

Gray Television Trading Down 5.4 %

The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 2.99. The company has a 50 day moving average price of $7.72 and a 200 day moving average price of $8.11.

Gray Television (NYSE:GTN.A) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.08). Gray Television had a net margin of 1.30% and a return on equity of 2.13%. The firm had revenue of $864.00 million during the quarter.

Gray Television Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be issued a $0.08 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.32 annualized dividend and a dividend yield of 3.98%. Gray Television’s dividend payout ratio is currently -266.67%.

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.