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

Key Points

• Gray Media's stock opened at $10.91 after closing at $10.43, but it last traded lower at $10.14, indicating a 2.8% decrease.
• The company reported a net margin of 5.64% and a return on equity of 10.31%, with quarterly earnings showing an EPS of ($0.42).
• Gray Media recently announced a quarterly dividend of $0.08, reflecting a 3.2% yield, with a dividend payout ratio of 21.19%.

Gray Media Inc. (NYSE:GTN.A - Get Free Report)'s share price gapped up prior to trading on Tuesday . The stock had previously closed at $10.43, but opened at $10.91. Gray Media shares last traded at $10.14, with a volume of 1,515 shares trading hands.

Gray Media Stock Down 2.8%

The company has a debt-to-equity ratio of 2.56, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $1.04 billion, a P/E ratio of 6.72 and a beta of 1.10. The firm has a 50-day simple moving average of $10.26 and a 200 day simple moving average of $9.27.

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

Gray Media Dividend Announcement

The company 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 annualized dividend and a yield of 3.2%. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.