FY2017 EPS Estimates for Gannett Co., Inc. Lowered by Gabelli (GCI)
Gannett Co., Inc. (NYSE:GCI) – Investment analysts at Gabelli reduced their FY2017 earnings estimates for shares of Gannett Co. in a research report issued to clients and investors on Tuesday. Gabelli analyst B. Lucas now expects that the company will post earnings of $0.59 per share for the year, down from their previous estimate of $0.81.
Gannett Co. (NYSE:GCI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by $0.01. The company had revenue of $774.50 million for the quarter, compared to the consensus estimate of $783.06 million. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. ILLEGAL ACTIVITY WARNING: “FY2017 EPS Estimates for Gannett Co., Inc. Lowered by Gabelli (GCI)” was first published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this story on another publication, it was copied illegally and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/09/02/fy2017-eps-estimates-for-gannett-co-inc-lowered-by-gabelli-gci.html.
GCI has been the subject of several other research reports. BidaskClub raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. TheStreet raised shares of Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. ValuEngine raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday. Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Finally, Noble Financial reissued a “buy” rating on shares of Gannett Co. in a report on Sunday, May 14th. Two equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $16.00.
Gannett Co. (NYSE:GCI) opened at 8.74 on Thursday. The company’s 50-day moving average is $8.63 and its 200-day moving average is $8.41. The company’s market cap is $993.69 million. Gannett Co. has a 12 month low of $7.30 and a 12 month high of $12.39.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 18th. Investors of record on Friday, September 1st will be issued a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 7.32%. The ex-dividend date is Wednesday, August 30th. Gannett Co.’s payout ratio is presently -3,200.00%.
Large investors have recently modified their holdings of the company. OppenheimerFunds Inc. raised its stake in shares of Gannett Co. by 52.7% in the first quarter. OppenheimerFunds Inc. now owns 280,057 shares of the company’s stock valued at $2,346,000 after buying an additional 96,623 shares during the last quarter. Quantbot Technologies LP raised its stake in shares of Gannett Co. by 1,668.6% in the first quarter. Quantbot Technologies LP now owns 115,313 shares of the company’s stock valued at $966,000 after buying an additional 108,793 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of Gannett Co. by 3.8% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 427,782 shares of the company’s stock valued at $3,585,000 after buying an additional 15,840 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of Gannett Co. during the first quarter valued at approximately $3,352,000. Finally, Credit Suisse AG raised its stake in shares of Gannett Co. by 220.8% in the first quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock valued at $7,118,000 after buying an additional 584,591 shares during the last quarter. 81.63% of the stock is owned by institutional investors.
About Gannett Co.
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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