Gannett (GCI) Shares Gap Down to $9.97

Gannett Co Inc (NYSE:GCI) gapped down prior to trading on Wednesday . The stock had previously closed at $9.32, but opened at $9.97. Gannett shares last traded at $10.26, with a volume of 404441 shares trading hands.

GCI has been the topic of a number of recent research reports. ValuEngine raised Gannett from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Zacks Investment Research upgraded Gannett from a “sell” rating to a “hold” rating in a report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy”.

The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1,160.00 and a price-to-earnings ratio of 172.83.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.46 by $0.09. The company had revenue of $854.00 million during the quarter, compared to the consensus estimate of $848.74 million. Gannett had a return on equity of 13.25% and a net margin of 1.43%. Gannett’s revenue was down 1.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.50 EPS. equities research analysts anticipate that Gannett Co Inc will post 0.94 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. raised 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 acquiring an additional 132,129 shares during the last quarter. Vanguard Group Inc. raised 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 acquiring an additional 439,304 shares during the last quarter. Dimensional Fund Advisors LP raised 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 acquiring an additional 641,893 shares during the last quarter. LSV Asset Management raised 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 acquiring an additional 604,450 shares during the last quarter. Finally, State Street Corp raised 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 acquiring an additional 96,469 shares during the last quarter. Institutional investors own 87.13% of the company’s stock.

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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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