Gray Television (NYSE:GTN.A) Shares Gap Up - Here's Why

Shares of Gray Television, Inc. (NYSE:GTN.A - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $6.88, but opened at $7.12. Gray Television shares last traded at $6.90, with a volume of 101 shares trading hands.

Gray Television Price Performance

The company's 50 day moving average price is $7.02 and its 200-day moving average price is $7.17. The stock has a market cap of $849.81 million, a P/E ratio of 5.58 and a beta of 1.24. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 2.76.

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

Gray Television Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.08 dividend. This represents a $0.32 dividend on an annualized basis and a yield of 3.82%. The ex-dividend date is Friday, March 14th. Gray Television's payout ratio is 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.