Other equities research analysts have also recently issued research reports about the stock. ValuEngine cut shares of Gannett from a strong-buy rating to a buy rating in a report on Saturday, June 2nd. Zacks Investment Research cut shares of Gannett from a hold rating to a sell rating in a report on Wednesday, May 2nd.
Shares of GCI opened at $10.62 on Friday. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of 10.31 and a beta of 0.99. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.16 and a current ratio of 1.16. Gannett has a fifty-two week low of $7.94 and a fifty-two week high of $12.38.
Gannett (NYSE:GCI) last announced its quarterly earnings data on Monday, May 7th. The company reported $0.13 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.10. The business had revenue of $722.95 million for the quarter, compared to analysts’ expectations of $721.63 million. Gannett had a net margin of 0.28% and a return on equity of 12.59%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.14 earnings per share. equities analysts predict that Gannett will post 1.03 earnings per share for the current year.
Gannett announced that its board has approved a share buyback plan on Tuesday, May 8th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 8.1% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 25th. Shareholders of record on Monday, June 11th were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 6.03%. The ex-dividend date was Friday, June 8th. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
In other news, CFO Alison K. Engel purchased 4,300 shares of the business’s stock in a transaction dated Friday, May 11th. The shares were purchased at an average price of $11.61 per share, for a total transaction of $49,923.00. Following the completion of the acquisition, the chief financial officer now directly owns 42,690 shares in the company, valued at approximately $495,630.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 1.06% of the company’s stock.
Several large investors have recently bought and sold shares of GCI. Dimensional Fund Advisors LP grew its holdings in shares of Gannett by 12.6% during the first quarter. Dimensional Fund Advisors LP now owns 8,394,081 shares of the company’s stock valued at $83,773,000 after buying an additional 941,055 shares during the last quarter. LSV Asset Management grew its holdings in shares of Gannett by 26.3% during the first quarter. LSV Asset Management now owns 4,505,536 shares of the company’s stock valued at $44,965,000 after buying an additional 937,841 shares during the last quarter. Matarin Capital Management LLC purchased a new stake in shares of Gannett during the first quarter valued at approximately $7,749,000. JPMorgan Chase & Co. grew its holdings in shares of Gannett by 20.5% during the first quarter. JPMorgan Chase & Co. now owns 4,047,892 shares of the company’s stock valued at $40,398,000 after buying an additional 687,854 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Gannett by 39.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 2,076,340 shares of the company’s stock valued at $20,721,000 after buying an additional 582,037 shares during the last quarter. Hedge funds and other institutional investors own 91.55% of the company’s stock.
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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