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

Gray Media Inc. (NYSE:GTN) declared a quarterly dividend on Friday, November 6th. Shareholders of record on Tuesday, December 15th will be paid a dividend of $0.08 per share on Thursday, December 31st. This represents a $0.32 dividend on an annualized basis and a yield of 6.5%. The ex-dividend date is Tuesday, December 15th.

Gray Media has a dividend payout ratio of 12.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gray Media to earn ($0.73) 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 -43.8%.

Gray Media Stock Performance

Shares of Gray Media stock opened at $4.89 on Friday. The company has a market capitalization of $504.11 million, a PE ratio of 16.88, a P/E/G ratio of 0.10 and a beta of 1.01. The company has a 50-day simple moving average of $4.65 and a two-hundred day simple moving average of $4.59. Gray Media has a one year low of $3.55 and a one year high of $6.43. 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 (NYSE:GTN) last released its quarterly earnings results on Friday, November 6th. The company reported $0.66 earnings per share for the quarter, missing analysts’ consensus estimates of $0.86 by ($0.20). Gray Media had a negative net margin of 0.83% and a negative return on equity of 1.12%. The firm had revenue of $972.00 million during the quarter, compared to the consensus estimate of $955.75 million. During the same quarter in the prior year, the business posted ($0.24) earnings per share. The firm’s quarterly revenue was up 29.8% on a year-over-year basis. Research analysts expect that Gray Media will post 2.35 EPS for the current fiscal year.

About Gray Media

Gray Media, formerly known as Gray Television, is a multimedia company that owns and operates local television stations and related digital media properties in markets across the United States. Its stations provide local news, weather, sports, public affairs and entertainment programming, while also distributing content through websites, mobile platforms and other digital channels.

The company’s broadcast portfolio includes affiliates of major networks such as ABC, CBS, NBC, FOX and The CW, as well as independent and specialty stations.