Gannett Co., Inc. (GCI) Given Average Rating of “Buy” by Brokerages
Shares of Gannett Co., Inc. (NYSE:GCI) have been given an average rating of “Buy” by the five ratings firms that are covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company.
A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Gannett Co. from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. TheStreet upgraded Gannett Co. from a “d” rating to a “c-” rating in a report on Friday, June 23rd. ValuEngine cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, BidaskClub upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, June 30th.
Gannett Co. (GCI) traded up 0.96% during midday trading on Tuesday, reaching $8.39. 563,590 shares of the company’s stock traded hands. The company’s 50-day moving average price is $8.61 and its 200-day moving average price is $8.40. The stock’s market cap is $953.90 million. Gannett Co. has a 52-week low of $7.30 and a 52-week high of $12.39.
Gannett Co. (NYSE:GCI) last issued its earnings results on Thursday, August 3rd. The company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.19 by ($0.01). The business 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 business’s revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 EPS. On average, equities analysts predict that Gannett Co. will post $0.98 EPS for the current fiscal year.
The firm 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. The ex-dividend date is Wednesday, August 30th. This represents a $0.64 annualized dividend and a dividend yield of 7.63%. Gannett Co.’s dividend payout ratio is presently -3,200.00%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Great Lakes Advisors LLC bought a new position in Gannett Co. in the first quarter valued at approximately $105,000. Bank of Montreal Can boosted its position in Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after buying an additional 89 shares in the last quarter. Stifel Financial Corp acquired a new stake in Gannett Co. in the second quarter valued at approximately $113,000. Koch Industries Inc. acquired a new stake in Gannett Co. in the second quarter valued at approximately $127,000. Finally, Private Advisor Group LLC acquired a new stake in Gannett Co. in the first quarter valued at approximately $128,000. 81.63% of the stock is currently owned by institutional investors.
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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