Gray Media (NYSE:GTN.A) Shares Gap Down - Here's What Happened

Key Points

• Shares gapped down, opening at $10.60 after a $11.50 close and last trading at $10.60 on very light volume (170 shares).
• Gray reported quarterly EPS of ($0.22) on $792 million in revenue and posted a negative return on equity (-2.51%) and net margin (-2.75%).
• The company has a $1.10 billion market cap, a negative P/E of -7.46 and relatively high leverage (debt-to-equity 2.66), with the 50-day SMA ($11.86) above the current price.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares gapped down prior to trading on Tuesday . The stock had previously closed at $11.50, but opened at $10.60. Gray Media shares last traded at $10.60, with a volume of 170 shares changing hands.

Gray Media Stock Up 2.0%

The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66. The stock has a market cap of $1.10 billion, a P/E ratio of -7.46 and a beta of 0.82. The firm has a 50-day simple moving average of $11.86 and a two-hundred day simple moving average of $10.73.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.