Gray Media (NYSE:GTN.A) Shares Down 9.1% - Here's What Happened

Key Points

• Gray Media's stock price decreased by 9.1% on Friday, closing at $10.20 after trading as low as $10.00, with a significant drop in trading volume.
• The company reported a quarterly loss of ($0.42) EPS along with a revenue of $772 million, highlighting a net margin of 5.64% and a return on equity of 10.31%.
• Gray Media announced a quarterly dividend of $0.08 per share with a yield of 3.5%, payable to stockholders on September 30th.

Gray Media Inc. (NYSE:GTN.A - Get Free Report)'s stock price fell 9.1% during trading on Friday . The company traded as low as $10.00 and last traded at $10.20. 2,152 shares were traded during trading, a decline of 50% from the average session volume of 4,290 shares. The stock had previously closed at $11.22.

Gray Media Trading Up 6.9%

The stock's fifty day moving average price is $10.28 and its 200 day moving average price is $8.39. 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 $1.10 billion, a PE ratio of 7.11 and a beta of 1.10.

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

Gray Media Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.08 per share. 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 dividend payout ratio is presently 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.