Gray Media (NYSE:GTN.A) Sees Large Volume Increase After Dividend Announcement

Key Points

• Gray Media's stocks experienced a 138% increase in trading volume following the announcement of a dividend of $0.08 per share, which will be paid on September 30th.
• The company's current market cap is $1.06 billion, with a P/E ratio of 6.93 and a debt-to-equity ratio of 2.48.
• Gray Media reported a net margin of 5.64% and earnings of ($0.42) per share in its last quarterly earnings, indicating financial challenges amidst a revenue of $772 million.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares saw strong trading volume on Tuesday after the company announced a dividend. 6,270 shares traded hands during trading, an increase of 138% from the previous session's volume of 2,635 shares.The stock last traded at $10.47 and had previously closed at $10.10.The newly announced dividend which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be paid a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.1%. The ex-dividend date is Monday, September 15th. Gray Media's payout ratio is currently 21.19%.

Gray Media Price Performance

The company has a market cap of $1.06 billion, a P/E ratio of 6.93 and a beta of 1.10. The stock has a 50-day simple moving average of $9.98 and a 200 day simple moving average of $8.26. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.91 and a current ratio of 0.91.

Gray Media (NYSE:GTN.A - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.42) earnings per share for the quarter. Gray Media had a net margin of 5.64% and a return on equity of 10.26%. The company had revenue of $772.00 million during the quarter.

About Gray Media

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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