Gray Media (NYSE:GTN.A) Stock Price Passes Below 200-Day Moving Average - Here's Why

Key Points

• Gray Media's stock (NYSE:GTN.A) has dropped below its 200-day moving average of $8.33, trading as low as $8.32.
• The company reported a net loss of ($0.42) earnings per share in its quarterly earnings, with revenue of $772 million.
• Gray Media has declared a quarterly dividend of $0.08 per share, resulting in an annualized dividend of $0.32 and a dividend yield of 3.3%.

Shares of Gray Media Inc. (NYSE:GTN.A - Get Free Report) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $8.33 and traded as low as $8.32. Gray Media shares last traded at $9.63, with a volume of 13,241 shares trading hands.

Gray Media Stock Up 5.0%

The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 2.56. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 6.99 and a beta of 1.10. The business's fifty day moving average is $10.29 and its two-hundred day moving average is $8.41.

Gray Media (NYSE:GTN.A - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.42) earnings per share for the quarter. The business 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be issued a $0.08 dividend. The ex-dividend date is Monday, September 15th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.0%. Gray Media's payout ratio is 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.