Gray Television (NYSE:GTN.A) Trading Down 8.3%

Gray Television, Inc. (NYSE:GTN.A)’s share price dropped 8.3% during mid-day trading on Friday . The company traded as low as $7.73 and last traded at $7.73. Approximately 291 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 1,997 shares. The stock had previously closed at $8.43.

Wall Street Analysts Forecast Growth

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

Gray Television Stock Performance

The stock has a 50-day simple moving average of $7.28 and a 200-day simple moving average of $8.04. The stock has a market cap of $845.64 million, a P/E ratio of -6.26 and a beta of 1.30. The company has a debt-to-equity ratio of 3.12, a current ratio of 1.18 and a quick ratio of 1.18.

Gray Television (NYSE:GTN.A) last announced its quarterly 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). Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%. The firm had revenue of $864.00 million for the quarter.

Gray Television Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.68%. The ex-dividend date was Thursday, March 14th. Gray Television’s payout ratio is -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.