Gray Television (NYSE:GTN.A) Shares Down 5.1% – What’s Next?

Shares of Gray Television, Inc. (NYSE:GTN.A) dropped 5.1% during mid-day trading on Wednesday . The stock traded as low as $7.91 and last traded at $8.06. Approximately 259 shares changed hands during mid-day trading, a decline of 97% from the average daily volume of 8,030 shares. The stock had previously closed at $8.49.

Gray Television Stock Down 3.4 %

The stock has a 50-day moving average of $7.06 and a 200-day moving average of $7.18. The company has a debt-to-equity ratio of 2.76, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $833.16 million, a price-to-earnings ratio of 5.37 and a beta of 1.24.

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

Gray Television Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.08 per share. The ex-dividend date is Friday, March 14th. This represents a $0.32 dividend on an annualized basis and a yield of 3.90%. 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.