Gray Media (NYSE:GTN.A) Trading Up 7% - Here's Why

Key Points

• Gray Media Inc. shares increased by 7% during trading, reaching as high as $11.25, although the trading volume decreased by 46% from its average.
• The company has a market capitalization of $1.03 billion and a PE ratio of 4.37, indicating strong earnings relative to its stock price.
• Gray Media recently declared a quarterly dividend of $0.08 per share, with an annualized yield of 3.17% and a payout ratio of 13.85%.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shot up 7% during trading on Tuesday . The stock traded as high as $11.25 and last traded at $11.50. 1,682 shares changed hands during mid-day trading, a decline of 46% from the average session volume of 3,117 shares. The stock had previously closed at $10.75.

Gray Media Price Performance

The company has a 50 day moving average price of $9.83 and a 200 day moving average price of $8.13. The company has a market capitalization of $1.08 billion, a price-to-earnings ratio of 4.61 and a beta of 1.10. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 2.48.

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

Gray Media Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were issued a dividend of $0.08 per share. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 3.0%. Gray Media's payout ratio is currently 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.