Gannett (NYSE:GCI) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of Gannett (NYSE:GCI) from a sell rating to a hold rating in a research note released on Tuesday morning, Zacks.com reports.

According to Zacks, “Gannett Co. Inc. is a digitally focused media and marketing solutions company. Its products and services include Pulitzer-Prize winning content, consumer experiences and benefits, and advertiser. Gannett Co. Inc. is based in VA, United States. “

NYSE GCI opened at $5.30 on Tuesday. The company has a fifty day simple moving average of $5.19 and a two-hundred day simple moving average of $5.67. Gannett has a 12-month low of $3.66 and a 12-month high of $7.05. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 2.10.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Friday, November 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.17 by ($0.01). Gannett had a positive return on equity of 6.44% and a negative net margin of 7.21%. The company had revenue of $800.19 million during the quarter, compared to analysts’ expectations of $821.67 million. During the same period in the prior year, the business posted ($0.39) EPS. On average, research analysts expect that Gannett will post 0.15 earnings per share for the current year.

Institutional investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. raised its holdings in shares of Gannett by 119.2% during the second quarter. PNC Financial Services Group Inc. now owns 6,509 shares of the company’s stock worth $35,000 after purchasing an additional 3,540 shares during the last quarter. Levin Capital Strategies L.P. purchased a new position in shares of Gannett during the second quarter worth $55,000. Royal Bank of Canada raised its holdings in shares of Gannett by 223.4% during the second quarter. Royal Bank of Canada now owns 11,339 shares of the company’s stock worth $62,000 after purchasing an additional 7,833 shares during the last quarter. First Republic Investment Management Inc. purchased a new position in shares of Gannett during the third quarter worth $67,000. Finally, Beirne Wealth Consulting Services LLC purchased a new position in shares of Gannett during the third quarter worth $68,000. 68.07% of the stock is owned by hedge funds and other institutional investors.

Gannett Company Profile

Gannett Media Corp. provided media and marketing solutions. The company was headquartered in McLean, VA.

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