Gray Television (NYSE:GTN.A) Shares Down 17.4%

Gray Television, Inc. (NYSE:GTN.A)’s stock price traded down 17.4% during mid-day trading on Tuesday . The company traded as low as $7.21 and last traded at $7.21. 3,117 shares traded hands during trading, an increase of 43% from the average session volume of 2,185 shares. The stock had previously closed at $8.73.

Gray Television Stock Performance

The business has a 50-day simple moving average of $8.49 and a 200 day simple moving average of $8.05. The firm has a market cap of $760.39 million, a PE ratio of -63.92 and a beta of 1.32. The company has a debt-to-equity ratio of 2.98, a current ratio of 1.63 and a quick ratio of 1.63.

Gray Television (NYSE:GTN.A) last issued its earnings results on Thursday, August 8th. The company reported $0.09 earnings per share for the quarter. Gray Television had a net margin of 1.84% and a return on equity of 3.02%. The company had revenue of $826.00 million during the quarter.

Gray Television Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be issued a dividend of $0.08 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.32 annualized dividend and a yield of 4.17%. Gray Television’s payout ratio is -266.67%.

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.