Gray Media Inc. (NYSE:GTN) Declares $0.08 Quarterly Dividend

Gray Media Inc. (NYSE:GTN) announced a quarterly dividend on Friday, August 7th. Stockholders of record on Tuesday, September 15th will be paid a dividend of 0.08 per share on Wednesday, September 30th. This represents a c) annualized dividend and a dividend yield of 6.0%. 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. Research analysts expect Gray Media to earn ($1.13) 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 -28.3%.

Gray Media Price Performance

NYSE GTN opened at $5.34 on Friday. The company has a market cap of $548.73 million, a PE ratio of -3.49 and a beta of 0.94. The firm’s 50 day moving average price is $4.01 and its 200-day moving average price is $4.52. The company has a debt-to-equity ratio of 2.72, a quick ratio of 1.20 and a current ratio of 1.20. Gray Media has a 52-week low of $3.50 and a 52-week high of $6.43.

Gray Media (NYSE:GTN) last issued its quarterly earnings data on Friday, August 7th. The company reported $0.21 EPS for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.29. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $795.13 million. Gray Media had a negative net margin of 3.12% and a negative return on equity of 3.07%. Gray Media’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.71) earnings per share. Sell-side analysts forecast that Gray Media will post 1.85 EPS for the current fiscal year.

About Gray Media

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.