Gray Television (NYSE:GTN.A) Shares Gap Down to $7.15

Gray Television, Inc. (NYSE:GTN.A) gapped down before the market opened on Thursday . The stock had previously closed at $7.15, but opened at $6.44. Gray Television shares last traded at $6.44, with a volume of 1,342 shares.

Analysts Set New Price Targets

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

Gray Television Stock Down 15.5 %

The firm has a market cap of $587.09 million, a PE ratio of -4.46 and a beta of 1.30. The firm’s 50 day moving average is $7.33 and its 200-day moving average is $8.05. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 3.12.

Gray Television (NYSE:GTN.A) last released its quarterly earnings data on Friday, February 23rd. The company reported ($0.24) earnings per share for the quarter, missing the consensus estimate 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 during the quarter.

Gray Television Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Friday, March 15th were issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 5.30%. The ex-dividend date was Thursday, March 14th. Gray Television’s dividend payout ratio (DPR) is presently -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.