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

Gray Media Inc. (NYSE:GTN.A - Get Free Report)'s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $8.97, but opened at $8.60. Gray Media shares last traded at $8.62, with a volume of 1,291 shares changing hands.

Gray Media Price Performance

The firm has a market cap of $866.64 million, a P/E ratio of 3.69 and a beta of 1.02. The company has a fifty day moving average of $7.97 and a 200-day moving average of $7.38. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.91 and a quick ratio of 0.91.

Gray Media (NYSE:GTN.A - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter. Gray Media had a return on equity of 13.78% and a net margin of 7.72%.

Gray Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, June 13th. Gray Media's dividend payout ratio (DPR) is presently 13.85%.

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.