Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued 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. “
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Monday, August 7th. ValuEngine raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Buy”.
Gannett Co. (NYSE:GCI) opened at $11.48 on Tuesday. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.43. Gannett Co. has a 1-year low of $7.36 and a 1-year high of $11.66. The stock has a market capitalization of $1,280.00 and a price-to-earnings ratio of 11.71.
Gannett Co. (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.05. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The firm had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. During the same period in the previous year, the company posted ($0.21) earnings per share. The company’s quarterly revenue was down 3.6% compared to the same quarter last year. analysts anticipate that Gannett Co. will post 0.9 earnings per share for the current fiscal year.
In other Gannett Co. news, insider John M. Zidich sold 17,954 shares of Gannett Co. stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $10.71, for a total value of $192,287.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.74% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of GCI. Bank of Montreal Can raised its stake in Gannett Co. by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after acquiring an additional 89 shares in the last quarter. National Asset Management Inc. raised its stake in shares of Gannett Co. by 1.9% in the 2nd quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock worth $167,000 after buying an additional 356 shares in the last quarter. Texas Permanent School Fund grew its holdings in shares of Gannett Co. by 0.8% during the second quarter. Texas Permanent School Fund now owns 82,928 shares of the company’s stock valued at $723,000 after buying an additional 692 shares in the last quarter. Thrivent Financial For Lutherans grew its stake in Gannett Co. by 1.5% in the first quarter. Thrivent Financial For Lutherans now owns 64,330 shares of the company’s stock valued at $539,000 after purchasing an additional 970 shares in the last quarter. Finally, White Pine Investment CO lifted its position in shares of Gannett Co. by 1.2% in the second quarter. White Pine Investment CO now owns 124,354 shares of the company’s stock worth $1,084,000 after buying an additional 1,430 shares during the last quarter. 85.10% of the stock is currently owned by institutional investors and hedge funds.
Gannett Co. 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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