Gannett (NYSE:GCI) released its quarterly earnings results on Tuesday. The company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.09, Bloomberg Earnings reports. The firm had revenue of $854.00 million for the quarter, compared to analysts’ expectations of $848.74 million. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.50 EPS.
Gannett (NYSE GCI) opened at $11.00 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. The firm has a market capitalization of $1,258.52, a price-to-earnings ratio of 28.87 and a beta of 0.80. Gannett has a fifty-two week low of $7.36 and a fifty-two week high of $12.38.
A number of hedge funds have recently made changes to their positions in the business. BlackRock Inc. lifted its holdings in Gannett by 0.9% in the 4th quarter. BlackRock Inc. now owns 14,449,359 shares of the company’s stock valued at $167,470,000 after purchasing an additional 132,129 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Gannett by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock valued at $93,588,000 after purchasing an additional 439,304 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gannett by 10.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,751,566 shares of the company’s stock valued at $60,764,000 after purchasing an additional 641,893 shares in the last quarter. LSV Asset Management lifted its holdings in Gannett by 20.4% in the 4th quarter. LSV Asset Management now owns 3,567,695 shares of the company’s stock valued at $41,349,000 after purchasing an additional 604,450 shares in the last quarter. Finally, State Street Corp lifted its holdings in Gannett by 3.1% in the 2nd quarter. State Street Corp now owns 3,165,173 shares of the company’s stock valued at $27,595,000 after purchasing an additional 96,469 shares in the last quarter. Institutional investors own 87.13% of the company’s stock.
GCI has been the topic of a number of research reports. Zacks Investment Research upgraded Gannett from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. ValuEngine upgraded Gannett from a “buy” rating to a “strong-buy” rating in a report on Friday, February 2nd. Two research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. Gannett presently has an average rating of “Buy”.
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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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