Gannett (NYSE:GCI) – Equities researchers at Jefferies Group raised their Q4 2018 earnings per share (EPS) estimates for Gannett in a note issued to investors on Monday, May 7th, according to Zacks Investment Research. Jefferies Group analyst J. Janedis now anticipates that the company will earn $0.52 per share for the quarter, up from their previous estimate of $0.50. Jefferies Group also issued estimates for Gannett’s Q4 2019 earnings at $0.54 EPS.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Monday, May 7th. The company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.03 by $0.10. Gannett had a return on equity of 12.59% and a net margin of 0.28%. The firm had revenue of $722.95 million for the quarter, compared to analysts’ expectations of $721.63 million. During the same period in the previous year, the firm posted $0.14 EPS. The business’s revenue for the quarter was down 6.5% compared to the same quarter last year.
A number of other analysts have also recently commented on GCI. ValuEngine raised Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Zacks Investment Research cut Gannett from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd.
Shares of GCI opened at $11.52 on Wednesday. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Gannett has a 52 week low of $11.46 and a 52 week high of $11.57. The company has a market capitalization of $1.30 billion, a PE ratio of 11.18 and a beta of 0.95.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 25th. Investors of record on Monday, June 11th will be given a $0.16 dividend. The ex-dividend date is Friday, June 8th. This represents a $0.64 annualized dividend and a yield of 5.56%. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
Gannett declared that its board has authorized a stock repurchase plan on Tuesday, May 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.1% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.
In related news, SVP Barbara W. Wall sold 10,954 shares of the company’s stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $10.43, for a total value of $114,250.22. Following the transaction, the senior vice president now directly owns 18,023 shares of the company’s stock, valued at approximately $187,979.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Robert J. Dickey sold 19,533 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.35, for a total value of $202,166.55. Following the completion of the transaction, the chief executive officer now directly owns 224,986 shares in the company, valued at $2,328,605.10. The disclosure for this sale can be found here. Insiders sold a total of 78,673 shares of company stock worth $804,778 over the last ninety days. 0.74% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in GCI. North Star Investment Management Corp. lifted its position in Gannett by 5.1% in the 4th quarter. North Star Investment Management Corp. now owns 351,488 shares of the company’s stock valued at $4,074,000 after acquiring an additional 17,057 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its position in Gannett by 3.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 1,851,197 shares of the company’s stock valued at $21,456,000 after acquiring an additional 53,360 shares in the last quarter. Acadian Asset Management LLC lifted its position in Gannett by 2,266.1% in the 4th quarter. Acadian Asset Management LLC now owns 704,187 shares of the company’s stock valued at $8,160,000 after acquiring an additional 674,426 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Gannett in the 4th quarter valued at approximately $117,000. Finally, James Investment Research Inc. bought a new position in Gannett in the 4th quarter valued at approximately $2,018,000. 92.62% of the stock is currently owned by institutional investors and hedge funds.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.
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