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

Gray Media Inc. (NYSE:GTN – Get Free Report) declared a quarterly dividend on Friday, August 7th. Stockholders of record on Tuesday, September 15th will be given a dividend of 0.08 per share on Wednesday, September 30th. This represents a c) dividend on an annualized basis and a dividend yield of 6.6%. The ex-dividend date of this dividend is Tuesday, September 15th.

Gray Media has a dividend payout ratio of 12.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Gray Media to earn ($0.65) 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 -49.2%.

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Gray Media Price Performance

Shares of NYSE GTN opened at $4.86 on Friday. The company has a debt-to-equity ratio of 2.73, a quick ratio of 0.95 and a current ratio of 0.95. Gray Media has a fifty-two week low of $3.55 and a fifty-two week high of $6.43. The firm has a market capitalization of $500.48 million, a PE ratio of -7.97, a price-to-earnings-growth ratio of 0.10 and a beta of 0.96. The stock’s 50-day simple moving average is $4.50 and its 200-day simple moving average is $4.58.

Gray Media (NYSE:GTN – Get Free Report) last announced its quarterly earnings results on Friday, August 7th. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.29. Gray Media had a negative return on equity of 1.12% and a negative net margin of 0.83%.The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $795.13 million. During the same period in the prior year, the company posted ($0.71) earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities research analysts forecast that Gray Media will post 2.33 EPS for the current fiscal year.

About Gray Media

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Gray Media (NYSE:GTN) is a U.S.-based broadcasting and digital media company that owns and operates a portfolio of local television stations and associated digital platforms. The company’s core business centers on delivering local news, sports and entertainment programming through its network-affiliated broadcast outlets. In addition to traditional over-the-air distribution, Gray Media supports multi-platform video streaming and on-demand services for audiences across its markets.

Gray Media’s television stations carry network programming from major national broadcasters, including ABC, CBS, NBC, Fox and The CW, and often feature locally produced news and public affairs content.

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