Zacks Investment Research upgraded shares of Gannett Co., Inc. (NYSE:GCI) from a sell rating to a hold rating in a research note released on Tuesday, August 8th.
According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “
Several other brokerages also recently issued reports on GCI. Noble Financial reiterated a buy rating on shares of Gannett Co. in a report on Sunday, May 14th. ValuEngine downgraded Gannett Co. from a buy rating to a hold rating in a report on Friday, June 2nd. BidaskClub upgraded Gannett Co. from a hold rating to a buy rating in a report on Friday, June 30th. Finally, TheStreet raised Gannett Co. from a d rating to a c- rating in a research report on Friday, June 23rd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Gannett Co. currently has an average rating of Hold and an average price target of $16.00.
Shares of Gannett Co. (GCI) traded up 0.49% during mid-day trading on Tuesday, hitting $8.18. The stock had a trading volume of 827,845 shares. The firm’s market capitalization is $930.03 million. Gannett Co. has a 1-year low of $7.30 and a 1-year high of $12.39. The stock’s 50-day moving average is $8.69 and its 200-day moving average is $8.47.
Gannett Co. (NYSE:GCI) last issued its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. The business had revenue of $774.50 million during the quarter, compared to the consensus estimate of $783.06 million. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.30 earnings per share. Equities analysts expect that Gannett Co. will post $0.98 earnings per share for the current year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 18th. Shareholders of record on Friday, September 1st will be given a $0.16 dividend. The ex-dividend date of this dividend is Wednesday, August 30th. This represents a $0.64 annualized dividend and a yield of 7.82%. Gannett Co.’s dividend payout ratio is currently -3,200.00%.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. boosted its position in shares of Gannett Co. by 82.3% in the first quarter. Advisors Asset Management Inc. now owns 680,423 shares of the company’s stock worth $5,702,000 after buying an additional 307,227 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Gannett Co. by 45.1% in the first quarter. First Trust Advisors LP now owns 264,920 shares of the company’s stock worth $2,220,000 after buying an additional 82,367 shares in the last quarter. LSV Asset Management boosted its position in shares of Gannett Co. by 0.8% in the first quarter. LSV Asset Management now owns 2,643,895 shares of the company’s stock worth $22,155,000 after buying an additional 21,727 shares in the last quarter. Heartland Advisors Inc. purchased a new position in shares of Gannett Co. during the first quarter worth approximately $3,352,000. Finally, Great West Life Assurance Co. Can boosted its position in shares of Gannett Co. by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 155,621 shares of the company’s stock worth $1,303,000 after buying an additional 4,268 shares in the last quarter. 84.91% of the stock is currently owned by hedge funds and other institutional investors.
About Gannett Co.
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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