Gray Media (NYSE:GTN.A) Shares Gap Down – Here’s Why

Gray Media Inc. (NYSE:GTN.A)’s share price gapped down before the market opened on Friday . The stock had previously closed at $11.51, but opened at $11.16. Gray Media shares last traded at $12.0850, with a volume of 13,658 shares trading hands.

Gray Media Price Performance

The company’s 50-day moving average is $9.07 and its 200-day moving average is $9.86. The stock has a market cap of $1.24 billion, a price-to-earnings ratio of 29.72 and a beta of 0.89. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 2.60.

Gray Media (NYSE:GTN.A) last released its quarterly earnings data on Friday, November 7th. The company reported ($0.24) EPS for the quarter. The company had revenue of $749.00 million during the quarter. Gray Media had a net margin of 2.81% and a return on equity of 5.50%.

About Gray Media

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company’s broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.