Gray Media Inc. (NYSE: GTN.A) experienced a noticeable decline in its stock price before the trading session on Friday. The shares, which had closed the previous day at $12.50, opened lower at $12.13. By the end of the trading day, Gray Media’s stock was last seen at $12.64, with a trading volume of 2,854 shares.
Stock Performance and Financial Overview
The company, which boasts a market capitalization of approximately $1.56 billion, reported a price-to-earnings ratio of 37.29 and a beta of 0.89. Financial metrics indicate a debt-to-equity ratio of 2.60, along with a current ratio of 0.93 and a quick ratio of 0.93. Over the past 50 days, the stock has maintained a simple moving average of $9.32, while the two-hundred-day simple moving average stands at $9.96.
Gray Media revealed its quarterly earnings results on November 7, 2023. The company reported an earnings per share (EPS) of ($0.24) for the quarter, with total revenue reaching $749 million. The company recorded a net margin of 2.81% and a return on equity of 5.50%.
About Gray Media
Gray Media, operating under the name Gray Television, Inc., manages a vast network of local television stations and digital platforms throughout the United States. Its broadcast portfolio includes a diverse array of programming, featuring national news and entertainment from major networks such as ABC, CBS, NBC, and Fox, as well as locally produced content that encompasses news, sports, and weather coverage.
In addition to traditional broadcasting, Gray Media offers digital advertising, streaming, and over-the-top solutions through its various websites, mobile applications, and branded digital marketplaces. The company was established in 1946 as Gray Communications Systems, transitioned to a public entity in 2006, and officially adopted the name Gray Television in 2010.
Overall, Gray Media’s recent stock movement reflects ongoing fluctuations in the market, highlighting the company’s financial performance amid a competitive landscape.
