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

Key Points

• Shares gapped down before the market opened, falling from a $11.39 close to an $10.60 open and last trading at $10.60 on very light volume (200 shares).
• Gray reported ($0.22) earnings per share on $792 million in revenue for the quarter, with a negative net margin (-2.75%) and negative return on equity (-2.51%), and carries significant leverage (debt-to-equity 2.66).
• Gray Television operates a nationwide portfolio of local broadcast stations and digital/streaming advertising platforms and has a market capitalization of about $1.10 billion.

Shares of Gray Media Inc. (NYSE:GTN.A - Get Free Report) gapped down before the market opened on Thursday . The stock had previously closed at $11.39, but opened at $10.60. Gray Media shares last traded at $10.60, with a volume of 200 shares changing hands.

Gray Media Stock Performance

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 stock has a market cap of $1.10 billion, a P/E ratio of -7.46 and a beta of 0.82. The business's 50-day moving average price is $11.31 and its 200-day moving average price is $10.81.

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

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.

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