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

Gray Media Inc. (NYSE:GTN.A)’s share price gapped down before the market opened on Monday . The stock had previously closed at $9.84, but opened at $9.63. Gray Media shares last traded at $9.62, with a volume of 1,950 shares traded.

Gray Media Price Performance

The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 6.76 and a beta of 1.13. The company’s 50-day simple moving average is $10.33 and its 200 day simple moving average is $9.06. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56.

Gray Media (NYSE:GTN.A) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.42) earnings per share (EPS) for the quarter. The business had revenue of $772.00 million during the quarter. Gray Media had a net margin of 5.64% and a return on equity of 10.31%.

Gray Media Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, September 15th. This represents a $0.32 annualized dividend and a dividend yield of 3.1%. Gray Media’s payout ratio is presently 21.19%.

Gray Media Company Profile

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.