Gray Media Inc. (GTN) To Go Ex-Dividend on December 15th

Gray Media Inc. (NYSE:GTN) announced a quarterly dividend on Friday, November 7th. Investors of record on Monday, December 15th will be paid a dividend of 0.08 per share on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 6.0%. The ex-dividend date is Monday, December 15th.

Gray Media has a dividend payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Gray Media to earn ($0.28) per share next year, which means the company may not be able to cover its $0.32 annual dividend with an expected future payout ratio of -114.3%.

Gray Media Stock Down 4.1%

NYSE GTN traded down $0.23 on Friday, reaching $5.31. The company had a trading volume of 1,148,913 shares, compared to its average volume of 1,096,129. The company has a debt-to-equity ratio of 2.60, a current ratio of 0.93 and a quick ratio of 0.93. Gray Media has a 1 year low of $2.91 and a 1 year high of $6.30. The firm has a 50-day moving average of $4.83 and a 200-day moving average of $5.00. The firm has a market capitalization of $541.59 million, a PE ratio of 12.94 and a beta of 0.89.

Gray Media (NYSE:GTN) last posted its quarterly earnings data on Friday, November 7th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.17. The company had revenue of $749.00 million for the quarter, compared to analyst estimates of $745.25 million. Gray Media had a net margin of 2.81% and a return on equity of 5.50%. The business’s quarterly revenue was down 21.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 earnings per share. On average, equities research analysts anticipate that Gray Media will post 3.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on GTN shares. Wells Fargo & Company upped their price objective on shares of Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Benchmark raised their price objective on Gray Media from $9.00 to $10.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Wall Street Zen downgraded Gray Media from a “hold” rating to a “sell” rating in a report on Sunday, November 16th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research note on Monday. Finally, Barrington Research restated an “outperform” rating and issued a $6.50 price target on shares of Gray Media in a research note on Tuesday, September 23rd. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $7.25.

Gray Media Company Profile

Gray Television, Inc, a television broadcasting company, owns and/or operates television stations and digital assets in the United States. It also broadcasts secondary digital channels affiliated to ABC, CBS, NBC, and FOX, as well as various other networks and program services, including CW Plus Network, MY Network, the MeTV Network, Circle, Telemundo, THE365, and Outlaw; and local news/weather channels in various markets.