Gannett Co., Inc. (NYSE:GCI) Stake Reduced by PNC Financial Services Group Inc.
PNC Financial Services Group Inc. lowered its stake in shares of Gannett Co., Inc. (NYSE:GCI) by 40.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,290 shares of the company’s stock after selling 32,464 shares during the period. PNC Financial Services Group Inc.’s holdings in Gannett Co. were worth $404,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of the company. Norges Bank acquired a new stake in Gannett Co. during the fourth quarter worth $20,127,000. Schroder Investment Management Group raised its stake in Gannett Co. by 27.3% in the first quarter. Schroder Investment Management Group now owns 2,072,784 shares of the company’s stock worth $17,494,000 after buying an additional 444,076 shares in the last quarter. Heartland Advisors Inc. acquired a new stake in Gannett Co. during the first quarter worth $3,352,000. Advisors Asset Management Inc. raised its stake in Gannett Co. by 82.3% in the first quarter. Advisors Asset Management Inc. now owns 680,423 shares of the company’s stock worth $5,702,000 after buying an additional 307,227 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in Gannett Co. by 108.5% in the fourth quarter. Guggenheim Capital LLC now owns 544,287 shares of the company’s stock worth $5,284,000 after buying an additional 283,270 shares in the last quarter. Institutional investors own 84.08% of the company’s stock.
Gannett Co., Inc. (NYSE GCI) traded up 0.45% on Monday, reaching $9.00. 759,762 shares of the company traded hands. Gannett Co., Inc. has a 1-year low of $7.30 and a 1-year high of $12.49. The stock has a market capitalization of $1.02 billion, a price-to-earnings ratio of 98.90 and a beta of 0.58. The stock’s 50-day moving average is $8.77 and its 200-day moving average is $8.55.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 business had revenue of $774.50 million for the quarter, compared to analysts’ expectations of $783.06 million. During the same period in the prior year, the business posted $0.30 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that Gannett Co., Inc. will post $1.04 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 18th. Stockholders 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 dividend yield of 7.11%. The ex-dividend date of this dividend is Wednesday, August 30th. Gannett Co.’s dividend payout ratio (DPR) is -3,200.00%.
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Several equities research analysts have commented on GCI shares. BidaskClub upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Noble Financial reiterated a “buy” rating on shares of Gannett Co. in a research note on Sunday, May 14th. TheStreet upgraded shares of Gannett Co. from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, ValuEngine downgraded shares of Gannett Co. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $16.00.
Gannett Co. Company Profile
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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