Gray Television (NYSE:GTN.A) Shares Down 7.1% - Here's Why

Gray Television, Inc. (NYSE:GTN.A - Get Free Report) shares dropped 7.1% on Wednesday . The company traded as low as $6.79 and last traded at $6.71. Approximately 167 shares changed hands during trading, a decline of 98% from the average daily volume of 7,979 shares. The stock had previously closed at $7.22.

Gray Television Stock Down 2.3 %

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 company's 50 day moving average price is $7.06 and its two-hundred day moving average price is $7.16. The firm has a market cap of $705.72 million, a PE ratio of 4.63 and a beta of 0.94.

Gray Television (NYSE:GTN.A - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $1.59 EPS 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 firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Friday, March 14th were given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 4.60%. The ex-dividend date was Friday, March 14th. Gray Television's dividend payout ratio is presently 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.