Gannett Co., Inc. (NYSE:GCI) – Investment analysts at Gabelli cut their FY2018 earnings per share estimates for shares of Gannett Co. in a report issued on Tuesday. Gabelli analyst B. Lucas now forecasts that the company will post earnings of $0.87 per share for the year, down from their prior estimate of $1.05. Gabelli also issued estimates for Gannett Co.’s FY2019 earnings at $0.80 EPS and FY2020 earnings at $0.77 EPS.
Several other equities analysts also recently issued reports on the stock. Noble Financial reissued a “buy” rating on shares of Gannett Co. in a report on Sunday, May 14th. ValuEngine downgraded shares of Gannett Co. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. BidaskClub raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, June 30th. Zacks Investment Research downgraded shares of Gannett Co. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, TheStreet raised shares of Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. Three investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Gannett Co. presently has an average rating of “Hold” and an average target price of $16.00.
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Gannett Co. (NYSE:GCI) traded up 4.12% on Wednesday, reaching $8.84. 881,763 shares of the company’s stock traded hands. Gannett Co. has a 52-week low of $7.30 and a 52-week high of $12.39. The firm’s 50-day moving average is $8.63 and its 200 day moving average is $8.40. The stock’s market capitalization is $1.01 billion.
Gannett Co. (NYSE:GCI) last posted its earnings results on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by $0.01. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The firm had revenue of $774.50 million during the quarter, compared to the consensus estimate of $783.06 million. During the same quarter last year, the company posted $0.30 EPS. Gannett Co.’s revenue for the quarter was up 3.4% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 7.54%. The ex-dividend date is Wednesday, August 30th. Gannett Co.’s dividend payout ratio is currently -3,200.00%.
Institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of Gannett Co. by 43,997.2% in the first quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock valued at $120,348,000 after buying an additional 14,328,569 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Gannett Co. during the first quarter worth $9,330,000. Dimensional Fund Advisors LP increased its position in shares of Gannett Co. by 19.7% in the second quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock worth $53,277,000 after buying an additional 1,005,908 shares in the last quarter. Credit Suisse AG increased its position in shares of Gannett Co. by 220.8% in the first quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock worth $7,118,000 after buying an additional 584,591 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in shares of Gannett Co. by 41.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock worth $13,631,000 after buying an additional 461,479 shares in the last quarter. 81.63% of the stock is 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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