Gannett Co., Inc. (NYSE:GCI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, October 9th.
According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “
A number of other equities research analysts have also weighed in on the company. ValuEngine upgraded Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. BidaskClub lowered Gannett Co. from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. Finally, TheStreet upgraded Gannett Co. from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the company. Gannett Co. presently has an average rating of “Hold” and an average price target of $16.00.
Shares of Gannett Co. (NYSE:GCI) traded up 2.12% during trading on Monday, reaching $9.65. 542,291 shares of the company traded hands. The stock’s market capitalization is $1.10 billion. Gannett Co. has a 12-month low of $7.30 and a 12-month high of $10.63. The firm’s 50-day moving average is $8.91 and its 200-day moving average is $8.54.
Gannett Co. (NYSE:GCI) last posted its earnings results on Thursday, August 3rd. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.19 by ($0.01). Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The company had revenue of $774.50 million during the quarter, compared to analysts’ expectations of $783.06 million. During the same quarter last year, the firm earned $0.30 EPS. Gannett Co.’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities analysts predict that Gannett Co. will post $0.98 earnings per share for the current fiscal year.
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Several institutional investors have recently added to or reduced their stakes in GCI. Bank of Montreal Can lifted its holdings in shares of Gannett Co. by 0.7% during the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock worth $110,000 after purchasing an additional 89 shares during the period. Stifel Financial Corp acquired a new stake in shares of Gannett Co. during the second quarter worth about $113,000. Koch Industries Inc. acquired a new stake in shares of Gannett Co. during the second quarter worth about $127,000. BB&T Securities LLC acquired a new stake in shares of Gannett Co. during the second quarter worth about $129,000. Finally, Miles Capital Inc. lifted its holdings in shares of Gannett Co. by 0.3% during the first quarter. Miles Capital Inc. now owns 17,702 shares of the company’s stock worth $148,000 after purchasing an additional 48 shares during the period. 81.68% of the stock is owned by hedge funds and other 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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