Gray Media (NYSE:GTN) Trading Up 13.8% on Strong Earnings

Gray Media Inc. (NYSE:GTN)’s stock price traded up 13.8% during mid-day trading on Thursday following a better than expected earnings announcement. The stock traded as high as $5.34 and last traded at $5.4040. 511,157 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 1,291,517 shares. The stock had previously closed at $4.75.

The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.28) by $0.04. The business had revenue of $792.00 million for the quarter, compared to the consensus estimate of $780.50 million. Gray Media had a return on equity of 5.50% and a net margin of 2.81%.The company’s revenue was down 24.2% on a year-over-year basis. During the same period last year, the business posted $1.59 EPS.

Gray Media Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Friday, March 13th will be paid a $0.08 dividend. The ex-dividend date is Friday, March 13th. This represents a $0.32 annualized dividend and a dividend yield of 5.4%. Gray Media’s dividend payout ratio is 78.05%.

Key Stories Impacting Gray Media

Here are the key news stories impacting Gray Media this week:

• Positive Sentiment: Q4 results topped expectations — Gray reported a smaller-than-expected loss (GAAP EPS around ($0.24) vs. consensus ($0.28)) and revenue of $792M that beat estimates; management said revenue and Adjusted EBITDA exceeded guidance, which supports the rally. Gray Media Reports Fourth Quarter Results Exceeding Guidance
• Positive Sentiment: Board authorized a quarterly cash dividend of $0.08 per share (payable March 31, record date March 13), implying a ~5.4% yield — dividend increases income appeal to yield-seeking investors. GRAY ANNOUNCES QUARTERLY CASH DIVIDEND OF $0.08 PER SHARE
• Neutral Sentiment: Management hosted an earnings call and posted the slide presentation and transcript — these provide detail on drivers of the beat, cost trends, and strategic priorities; investors should review for clarity on cash flow and capital allocation. Gray Media, Inc. (GTN) Q4 2025 Earnings Call Transcript Gray Media, Inc. 2025 Q4 – Results – Earnings Call Presentation
• Neutral Sentiment: Local business development: Gray’s KPDX station entered partnerships with Portland sports teams — modestly positive for local ad/partnership revenue but unlikely to materially move the stock on its own. Gray Media’s KPDX enters partnership with Portland Fire, Portland Thorns
• Negative Sentiment: First-quarter revenue guidance was set below consensus (roughly $755M–$770M vs. Street ~$779M), signaling a softer near-term top‑line outlook; that guidance gap is a potential drag if investors focus on near-term revenue weakness. Gray Media Reports Fourth Quarter Results Exceeding Guidance

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Benchmark boosted their price objective on shares of Gray Media from $9.00 to $10.00 and gave the stock a “buy” rating in a report on Monday, November 10th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gray Media in a research note on Monday, December 29th. Wall Street Zen downgraded Gray Media from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Zacks Research upgraded Gray Media from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 28th. Finally, Wells Fargo & Company increased their target price on Gray Media from $5.00 to $5.50 and gave the company an “equal weight” rating in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Gray Media has an average rating of “Moderate Buy” and an average price target of $7.25.

Institutional Investors Weigh In On Gray Media

Institutional investors have recently made changes to their positions in the company. Allianz Asset Management GmbH raised its stake in Gray Media by 155.8% during the third quarter. Allianz Asset Management GmbH now owns 370,758 shares of the company’s stock worth $2,143,000 after acquiring an additional 225,843 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Gray Media during the third quarter valued at approximately $1,560,000. New York State Common Retirement Fund raised its position in shares of Gray Media by 36.7% during the 3rd quarter. New York State Common Retirement Fund now owns 1,881,087 shares of the company’s stock worth $10,873,000 after purchasing an additional 504,780 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Gray Media by 94.7% in the 2nd quarter. Prudential Financial Inc. now owns 907,347 shares of the company’s stock worth $4,110,000 after purchasing an additional 441,290 shares during the last quarter. Finally, Bank of Montreal Can acquired a new position in Gray Media during the 2nd quarter valued at approximately $363,000. 78.64% of the stock is currently owned by institutional investors.

Gray Media Stock Performance

The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50 day moving average of $4.65 and a 200 day moving average of $5.05. The stock has a market capitalization of $602.33 million, a P/E ratio of 14.39 and a beta of 0.89.

Gray Media Company Profile

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.