Zacks Investment Research Upgrades Gannett Co., Inc. (NYSE:GCI) to “Hold”

Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday, November 7th.

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. “

GCI has been the topic of several other research reports. BidaskClub downgraded shares of Gannett from a “buy” rating to a “hold” rating in a report on Monday, August 7th. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy”.

Gannett (GCI) traded up $0.06 during trading on Tuesday, reaching $11.66. 327,223 shares of the company’s stock were exchanged, compared to its average volume of 877,496. Gannett has a 12 month low of $7.36 and a 12 month high of $11.85. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $1,300.00 and a price-to-earnings ratio of 11.90.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The firm had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. During the same period last year, the business earned ($0.21) EPS. Gannett’s revenue for the quarter was down 3.6% compared to the same quarter last year. analysts predict that Gannett will post 0.9 EPS for the current year.

In related news, insider John M. Zidich sold 17,954 shares of the company’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders sold 20,579 shares of company stock worth $222,035 over the last ninety days. 0.74% of the stock is currently owned by corporate insiders.

Several large investors have recently modified their holdings of GCI. BlackRock Inc. grew its position in shares of Gannett by 43,997.2% during the first quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock worth $120,348,000 after acquiring an additional 14,328,569 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Gannett by 1,094.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 1,372,602 shares of the company’s stock worth $12,353,000 after acquiring an additional 1,257,690 shares during the last quarter. Renaissance Technologies LLC bought a new position in Gannett in the 1st quarter valued at about $9,330,000. Dimensional Fund Advisors LP grew its position in Gannett by 19.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock valued at $53,277,000 after buying an additional 1,005,908 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Gannett by 158.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,549,481 shares of the company’s stock valued at $13,915,000 after buying an additional 949,923 shares in the last quarter. 85.10% of the stock is currently owned by institutional investors.

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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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