$848.50 Million in Sales Expected for Gannett Co Inc (GCI) This Quarter
Equities research analysts expect Gannett Co Inc (NYSE:GCI) to report sales of $848.50 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Gannett’s earnings. The lowest sales estimate is $837.00 million and the highest is $858.50 million. Gannett posted sales of $866.99 million during the same quarter last year, which suggests a negative year over year growth rate of 2.1%. The company is expected to issue its next quarterly earnings report on Thursday, February 8th.
On average, analysts expect that Gannett will report full-year sales of $848.50 million for the current year, with estimates ranging from $3.13 billion to $3.16 billion. For the next financial year, analysts anticipate that the firm will post sales of $3.03 billion per share, with estimates ranging from $2.96 billion to $3.11 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow Gannett.
Gannett (NYSE:GCI) last released its earnings results on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The company had revenue of $744.30 million for the quarter, compared to the consensus estimate of $762.97 million. During the same quarter last year, the business posted ($0.21) EPS. Gannett’s quarterly revenue was down 3.6% compared to the same quarter last year.
In other Gannett news, insider John M. Zidich sold 17,954 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total transaction of $192,287.34. The transaction was disclosed in a filing with the SEC, which is available at this link. In the last ninety days, insiders have sold 20,579 shares of company stock worth $222,035. 0.74% of the stock is currently owned by company insiders.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Gannett by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock worth $93,588,000 after purchasing an additional 439,304 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Gannett by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,751,566 shares of the company’s stock worth $60,764,000 after purchasing an additional 641,893 shares during the period. State Street Corp raised its position in shares of Gannett by 3.1% during the 2nd quarter. State Street Corp now owns 3,165,173 shares of the company’s stock worth $27,595,000 after purchasing an additional 96,469 shares during the period. Schwab Charles Investment Management Inc. raised its position in shares of Gannett by 15.0% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,797,837 shares of the company’s stock worth $16,181,000 after purchasing an additional 234,682 shares during the period. Finally, FMR LLC raised its position in shares of Gannett by 5.9% during the 2nd quarter. FMR LLC now owns 1,793,801 shares of the company’s stock worth $15,642,000 after purchasing an additional 99,229 shares during the period. Institutional investors and hedge funds own 84.77% of the company’s stock.
Gannett (NYSE:GCI) traded up $0.44 during trading hours on Friday, reaching $11.57. The company’s stock had a trading volume of 2,783,395 shares, compared to its average volume of 1,058,684. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. Gannett has a 52 week low of $7.36 and a 52 week high of $12.38. The company has a market cap of $1,243.99, a P/E ratio of 11.36 and a beta of 0.85.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.53%. The ex-dividend date is Monday, December 11th. Gannett’s dividend payout ratio is presently 164.11%.
Gannett 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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