Gannett Co Inc (NYSE:GCI)‘s stock had its “buy” rating restated by equities researchers at Noble Financial in a research note issued on Sunday, May 14th.
Separately, Zacks Investment Research lowered shares of Gannett Co from a “hold” rating to a “sell” rating in a report on Wednesday, April 26th.
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Gannett Co (NYSE GCI) opened at 7.66 on Friday. Gannett Co has a 1-year low of $7.30 and a 1-year high of $15.58. The stock has a market capitalization of $870.44 million, a P/E ratio of 84.18 and a beta of 0.73. The stock has a 50 day moving average price of $8.12 and a 200-day moving average price of $8.87.
Gannett Co (NYSE:GCI) last posted its quarterly earnings results on Tuesday, April 25th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.12 by $0.02. Gannett Co had a net margin of 1.44% and a return on equity of 12.56%. The company had revenue of $773.50 million for the quarter, compared to analyst estimates of $767.99 million. During the same period in the prior year, the company earned $0.27 earnings per share. The firm’s revenue was up 17.3% on a year-over-year basis. Equities research analysts expect that Gannett Co will post $1.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 19th. Shareholders of record on Monday, June 5th will be given a $0.16 dividend. The ex-dividend date is Thursday, June 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.36%. Gannett Co’s dividend payout ratio (DPR) is currently 177.78%.
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Hedge funds and other institutional investors have recently modified their holdings of the company. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Gannett Co by 31.8% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 25,443 shares of the company’s stock worth $566,000 after buying an additional 6,143 shares during the period. BlackRock Advisors LLC increased its position in shares of Gannett Co by 12.0% in the third quarter. BlackRock Advisors LLC now owns 60,976 shares of the company’s stock worth $710,000 after buying an additional 6,522 shares during the period. BlackRock Investment Management LLC increased its position in shares of Gannett Co by 0.5% in the third quarter. BlackRock Investment Management LLC now owns 537,704 shares of the company’s stock worth $6,259,000 after buying an additional 2,803 shares during the period. BlackRock Inc. increased its position in shares of Gannett Co by 2.3% in the third quarter. BlackRock Inc. now owns 36,062 shares of the company’s stock worth $420,000 after buying an additional 818 shares during the period. Finally, Teachers Advisors LLC increased its position in shares of Gannett Co by 1.4% in the third quarter. Teachers Advisors LLC now owns 186,920 shares of the company’s stock worth $2,176,000 after buying an additional 2,652 shares during the period. Institutional investors and hedge funds own 86.27% of the company’s stock.
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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