Gannett Co. (GCI) to Post Q3 2016 Earnings of $0.22 Per Share, Jefferies Group Forecasts
Gannett Co. (NYSE:GCI) – Stock analysts at Jefferies Group cut their Q3 2016 earnings estimates for Gannett in a research note issued to investors on Monday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will post earnings of $0.22 per share for the quarter, down from their prior forecast of $0.25. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Gannett’s Q4 2016 earnings at $0.47 EPS, FY2016 earnings at $1.27 EPS, Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.47 EPS and FY2017 earnings at $1.28 EPS.
Several other equities research analysts have also commented on the company. Zacks Investment Research lowered Gannett from a “buy” rating to a “hold” rating in a research note on Thursday, July 28th. Noble Financial restated a “buy” rating and set a $23.00 price target on shares of Gannett in a research note on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.80.
Shares of Gannett (NYSE:GCI) opened at 11.06 on Tuesday. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.67 and a beta of 0.03. The firm has a 50 day moving average price of $11.68 and a 200-day moving average price of $13.88. Gannett has a 52 week low of $11.03 and a 52 week high of $17.91.
Gannett (NYSE:GCI) last issued its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The company earned $748.80 million during the quarter, compared to analyst estimates of $794.77 million. During the same period last year, the business earned $0.46 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year.
Several large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Gannett during the fourth quarter worth approximately $32,474,000. Commonwealth Equity Services Inc increased its position in shares of Gannett by 7.3% in the first quarter. Commonwealth Equity Services Inc now owns 22,144 shares of the company’s stock worth $335,000 after buying an additional 1,508 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Gannett by 7.7% in the first quarter. Teachers Advisors Inc. now owns 302,940 shares of the company’s stock worth $4,587,000 after buying an additional 21,748 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Gannett by 8.5% in the first quarter. Prudential Financial Inc. now owns 287,978 shares of the company’s stock worth $4,360,000 after buying an additional 22,577 shares in the last quarter. Finally, BlackRock Inc. increased its position in shares of Gannett by 232.0% in the first quarter. BlackRock Inc. now owns 16,468 shares of the company’s stock worth $250,000 after buying an additional 11,508 shares in the last quarter. Institutional investors and hedge funds own 91.75% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Stockholders of record on Monday, December 5th will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.79%. Gannett’s dividend payout ratio (DPR) is currently 74.42%.
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.
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