Gray Media (NYSE:GTN.A) Sees Large Volume Increase - Here's Why

Key Points

• Gray Media's stock (NYSE:GTN.A) experienced a 29% increase in trading volume, with 5,056 shares traded, closing at $10.77 after a previous close of $9.99.
• The company reported a loss of ($0.42) earnings per share for its most recent quarter, with revenue amounting to $772 million, and a return on equity of 10.31%.
• Gray Media declared a quarterly dividend of $0.08, translating to an annual yield of 3.1% and a dividend payout ratio of 21.19%.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares saw an uptick in trading volume on Wednesday . 5,056 shares traded hands during trading, an increase of 29% from the previous session's volume of 3,915 shares.The stock last traded at $10.77 and had previously closed at $9.99.

Gray Media Price Performance

The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt-to-equity ratio of 2.56. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 6.94 and a beta of 1.10. The company's 50-day moving average is $10.24 and its 200-day moving average is $9.27.

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

Gray Media Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were given a $0.08 dividend. The ex-dividend date was Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a yield of 3.1%. Gray Media's dividend payout ratio (DPR) is currently 21.19%.

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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