Gray Media (NYSE:GTN.A) Shares Up 7.2% - Here's Why

Key Points

• Shares of Gray Media (NYSE:GTN.A) jumped 7.2%, trading as high as $11.80 and last at $11.52 on light volume (7,629 shares, ~63% below average).
• In the most recent quarter the company reported a loss of ($0.22) EPS on $792 million in revenue, with a negative net margin (−2.75%) and negative return on equity (−2.51%).
• Gray has a market cap of $1.18 billion, a negative P/E (−8.11), substantial leverage (debt‑to‑equity 2.66), and technicals showing a 50‑day moving average of $12.42 versus a 200‑day of $10.53.

Gray Media Inc. (NYSE:GTN.A - Get Free Report) shares shot up 7.2% during trading on Monday . The stock traded as high as $11.80 and last traded at $11.52. 7,629 shares were traded during mid-day trading, a decline of 63% from the average session volume of 20,456 shares. The stock had previously closed at $10.75.

Gray Media Stock Up 7.2%

The firm has a 50-day moving average of $12.42 and a two-hundred day moving average of $10.53. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of -8.11 and a beta of 0.92. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 2.66.

Gray Media (NYSE:GTN.A - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported ($0.22) earnings per share (EPS) for the quarter. The business had revenue of $792.00 million during the quarter. Gray Media had a negative net margin of 2.75% and a negative return on equity of 2.51%.

Gray Media Company Profile

Gray Media, doing business as Gray Television, Inc, operates an extensive network of local television stations and digital platforms across the United States. The company's broadcast portfolio offers a mix of network-affiliated programming—ranging from national news and entertainment from ABC, CBS, NBC and Fox—to locally produced content including news, sports and weather coverage. In addition to traditional broadcast, Gray Media provides digital advertising, streaming and over-the-top solutions through its websites, mobile apps and branded digital marketplaces.

Established in 1946 as Gray Communications Systems, the company went public in 2006 and adopted the Gray Television name in 2010.

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