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

Key Points

• The shares of Gray Media Inc. (NYSE:GTN.A) gapped down from a previous close of $11.25 to open at $10.13, and last traded at $10.61.
• Gray Media reported a quarterly earnings loss of ($0.23) EPS, with a market cap of $1.09 billion and a debt-to-equity ratio of 2.48.
• The company announced a quarterly dividend of $0.08 per share, representing an annualized dividend yield of 2.99% with a payout ratio of 13.85%.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares gapped down prior to trading on Wednesday . The stock had previously closed at $11.25, but opened at $10.13. Gray Media shares last traded at $10.61, with a volume of 1,822 shares traded.

Gray Media Price Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 0.91 and a quick ratio of 0.91. The company has a market cap of $1.08 billion, a PE ratio of 4.61 and a beta of 1.08. The stock's 50-day moving average is $9.80 and its 200 day moving average is $8.11.

Gray Media (NYSE:GTN.A - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter. Gray Media had a net margin of 7.72% and a return on equity of 12.75%.

Gray Media Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Friday, June 13th were issued a $0.08 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 3.0%. Gray Media's dividend payout ratio (DPR) is presently 13.85%.

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.