Gray Media (NYSE:GTN.A) Shares Gap Down – Here’s Why

Shares of Gray Media Inc. (NYSE:GTN.A) gapped down before the market opened on Tuesday . The stock had previously closed at $10.86, but opened at $10.32. Gray Media shares last traded at $10.21, with a volume of 280 shares.

Gray Media Trading Down 4.8%

The stock has a market cap of $1.05 billion, a price-to-earnings ratio of 4.47 and a beta of 1.01. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.91 and a quick ratio of 0.91. The company’s fifty day moving average price is $8.31 and its 200-day moving average price is $7.50.

Gray Media (NYSE:GTN.A) last issued its quarterly earnings results 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 12.75%.

Gray Media Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Friday, June 13th were paid a dividend of $0.08 per share. The ex-dividend date was Friday, June 13th. This represents a $0.32 annualized dividend and a yield of 3.10%. Gray Media’s payout ratio is presently 13.85%.

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.