Gray Media (NYSE:GTN.A) Stock Price Down 6% - Here's What Happened

Key Points

• Gray Media's shares declined 6%, trading down to $9.68 from a previous close of $10.30, with volume decreasing significantly to 1,093 shares compared to the average of 2,445 shares.
• The company reported a loss of ($0.42) EPS in its latest quarterly earnings, with revenue reaching $772 million and a return on equity of 10.31%.
• Gray Media declared a quarterly dividend of $0.08 per share, providing a yield of 3.2%, with the ex-dividend date set for September 15.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares dropped 6% on Tuesday . The stock traded as low as $10.00 and last traded at $9.68. Approximately 1,093 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 2,445 shares. The stock had previously closed at $10.30.

Gray Media Stock Performance

The business has a 50-day simple moving average of $10.47 and a 200 day simple moving average of $8.78. The firm has a market cap of $1.01 billion, a PE ratio of 6.54 and a beta of 1.13. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87.

Gray Media (NYSE:GTN.A - Get Free Report) 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 return on equity of 10.31% and a net margin of 5.64%.

Gray Media Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.08 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.2%. Gray Media's dividend payout ratio (DPR) is presently 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.