Shares of Gray Television, Inc. (NYSE:GTN.A – Get Free Report) fell 14% on Friday . The stock traded as low as $6.15 and last traded at $6.15. 826 shares traded hands during trading, a decline of 60% from the average session volume of 2,050 shares. The stock had previously closed at $7.15.
Analyst Upgrades and Downgrades
Separately, TheStreet downgraded Gray Television from a “c-” rating to a “d+” rating in a research note on Tuesday, March 12th.
Read Our Latest Analysis on Gray Television
Gray Television Trading Down 3.3 %
Gray Television (NYSE:GTN.A – Get Free Report) last posted its quarterly earnings results 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). The firm had revenue of $864.00 million for the quarter. Gray Television had a negative net margin of 2.32% and a negative return on equity of 3.76%.
Gray Television Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Friday, March 15th were paid a dividend of $0.08 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.32 annualized dividend and a yield of 5.38%. Gray Television’s payout ratio 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.
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