Gray Television (NYSE:GTN.A) Trading 5% Higher – Here’s What Happened

Gray Television, Inc. (NYSE:GTN.A)’s stock price was up 5% on Thursday . The stock traded as high as $6.78 and last traded at $6.40. Approximately 5,379 shares changed hands during trading, a decline of 32% from the average daily volume of 7,923 shares. The stock had previously closed at $6.10.

Gray Television Stock Performance

The firm has a market capitalization of $650.83 million, a price-to-earnings ratio of 4.35 and a beta of 1.24. The company has a fifty day moving average of $7.07 and a two-hundred day moving average of $7.29. The company has a debt-to-equity ratio of 2.76, a quick ratio of 1.13 and a current ratio of 1.13.

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

Gray Television Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.32 annualized dividend and a yield of 4.90%. Gray Television’s dividend payout ratio is presently 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.