Gray Media (NYSE:GTN.A) Trading Down 4% - Here's What Happened

Gray Media Inc. (NYSE:GTN.A - Get Free Report) dropped 4% during mid-day trading on Monday . The company traded as low as $9.61 and last traded at $9.24. Approximately 695 shares changed hands during trading, a decline of 92% from the average daily volume of 8,410 shares. The stock had previously closed at $9.62.

Gray Media Price Performance

The stock has a market capitalization of $868.78 million, a price-to-earnings ratio of 3.70 and a beta of 1.02. The business's fifty day moving average price is $7.94 and its 200-day moving average price is $7.37. The company has a debt-to-equity ratio of 3.48, a current ratio of 0.91 and a quick ratio of 0.91.

Gray Media (NYSE:GTN.A - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported ($0.23) earnings per share (EPS) for the quarter. Gray Media had a net margin of 7.72% and a return on equity of 13.78%.

Gray Media Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend is Friday, June 13th. Gray Media's dividend payout ratio is currently 13.85%.

Gray Media Company Profile

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.