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

Gray Media Inc. (NYSE:GTN.A)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $12.63, but opened at $11.94. Gray Media shares last traded at $11.94, with a volume of 111 shares trading hands.

Gray Media Trading Down 4.1%

The company has a debt-to-equity ratio of 2.66, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market cap of $1.23 billion, a P/E ratio of -8.38 and a beta of 0.92. The firm has a 50 day simple moving average of $11.99 and a 200 day simple moving average of $10.70.

Gray Media (NYSE:GTN.A) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.22) earnings per share for the quarter. Gray Media had a negative net margin of 2.75% and a negative return on equity of 2.51%. The company had revenue of $792.00 million for the quarter.

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.