Analysts expect that Gannett Co Inc (NYSE:GCI) will announce $0.15 earnings per share (EPS) for the current quarter, according to Zacks. Three analysts have provided estimates for Gannett’s earnings, with the highest EPS estimate coming in at $0.17 and the lowest estimate coming in at $0.11. Gannett posted earnings per share of $0.16 in the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The company is scheduled to issue its next quarterly earnings report on Thursday, November 1st.
According to Zacks, analysts expect that Gannett will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.00 to $1.15. For the next financial year, analysts expect that the business will post earnings of $0.97 per share, with EPS estimates ranging from $0.74 to $1.15. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow Gannett.
Gannett (NYSE:GCI) last announced its earnings results on Thursday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.10. The business had revenue of $730.77 million for the quarter, compared to analyst estimates of $739.17 million. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.18 earnings per share.
GCI has been the topic of a number of research reports. Noble Financial set a $17.00 target price on shares of Gannett and gave the stock a “buy” rating in a research report on Friday, August 10th. ValuEngine lowered shares of Gannett from a “hold” rating to a “sell” rating in a research report on Thursday, August 2nd. JPMorgan Chase & Co. lowered shares of Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 target price on the stock. in a research report on Friday, July 6th. Finally, TheStreet upgraded shares of Gannett from a “c” rating to a “b-” rating in a research report on Friday, June 22nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $12.50.
In related news, CMO Andrew T. Yost sold 3,500 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $10.31, for a total transaction of $36,085.00. Following the completion of the sale, the chief marketing officer now directly owns 3,534 shares of the company’s stock, valued at $36,435.54. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrew T. Yost sold 5,175 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $10.39, for a total value of $53,768.25. Following the sale, the insider now directly owns 7,034 shares of the company’s stock, valued at $73,083.26. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,012 shares of company stock valued at $93,318. Corporate insiders own 0.74% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GCI. Acadian Asset Management LLC acquired a new stake in shares of Gannett during the second quarter worth $17,775,000. Millennium Management LLC lifted its holdings in shares of Gannett by 1,547.3% during the second quarter. Millennium Management LLC now owns 1,207,217 shares of the company’s stock worth $12,917,000 after purchasing an additional 1,133,934 shares during the period. BlackRock Inc. lifted its holdings in shares of Gannett by 6.7% during the second quarter. BlackRock Inc. now owns 15,612,646 shares of the company’s stock worth $167,055,000 after purchasing an additional 982,808 shares during the period. Dimensional Fund Advisors LP lifted 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 worth $83,773,000 after purchasing an additional 941,055 shares during the period. Finally, Matarin Capital Management LLC acquired a new stake in shares of Gannett during the first quarter worth $7,749,000. 98.28% of the stock is owned by hedge funds and other institutional investors.
Shares of GCI traded up $0.49 during mid-day trading on Thursday, reaching $10.43. 1,018,600 shares of the company’s stock were exchanged, compared to its average volume of 1,143,728. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. The firm has a market cap of $1.12 billion, a PE ratio of 10.13 and a beta of 0.91. Gannett has a 52-week low of $7.94 and a 52-week high of $12.38.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 24th. Investors of record on Monday, September 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.14%. The ex-dividend date is Friday, September 7th. Gannett’s dividend payout ratio is presently 62.14%.
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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