Brokerages expect Gannett (NYSE:GCI) to announce earnings of $0.02 per share for the current fiscal quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gannett’s earnings. The lowest EPS estimate is ($0.03) and the highest is $0.10. Gannett posted earnings per share of $0.14 in the same quarter last year, which would indicate a negative year over year growth rate of 85.7%. The company is scheduled to issue its next quarterly earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Gannett will report full-year earnings of $1.00 per share for the current year, with EPS estimates ranging from $0.86 to $1.13. For the next fiscal year, analysts anticipate that the business will post earnings of $1.03 per share, with EPS estimates ranging from $0.93 to $1.15. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Gannett.
Gannett (NYSE:GCI) last posted its quarterly earnings data on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. Gannett had a return on equity of 13.29% and a net margin of 0.22%. The company had revenue of $854.00 million during the quarter, compared to analyst estimates of $848.74 million. During the same quarter last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was down 1.5% on a year-over-year basis.
Separately, ValuEngine raised Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Gannett currently has an average rating of “Buy”.
GCI stock traded up $0.11 on Tuesday, reaching $9.39. 1,024,820 shares of the company traded hands, compared to its average volume of 1,628,214. Gannett has a one year low of $7.36 and a one year high of $12.38. The company has a quick ratio of 1.10, a current ratio of 1.16 and a debt-to-equity ratio of 0.35. The firm has a market cap of $1,047.01, a PE ratio of 9.12 and a beta of 0.94.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Shareholders of record on Monday, March 12th were paid a dividend of $0.16 per share. The ex-dividend date was Friday, March 9th. This represents a $0.64 annualized dividend and a yield of 6.82%. Gannett’s dividend payout ratio is 62.14%.
In other Gannett news, insider John M. Zidich sold 28,089 shares of the stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $10.21, for a total transaction of $286,788.69. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Walker Henry K. Faure sold 20,097 shares of the stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $10.03, for a total value of $201,572.91. Following the sale, the chief executive officer now owns 1,351 shares in the company, valued at $13,550.53. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,673 shares of company stock worth $804,778. Company insiders own 0.74% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in shares of Gannett in the 4th quarter worth $117,000. Elkfork Partners LLC purchased a new position in shares of Gannett in the 4th quarter worth $139,000. Xact Kapitalforvaltning AB purchased a new position in shares of Gannett in the 4th quarter worth $155,000. Meeder Asset Management Inc. boosted its stake in shares of Gannett by 213.9% in the 4th quarter. Meeder Asset Management Inc. now owns 13,886 shares of the company’s stock worth $161,000 after buying an additional 9,462 shares during the last quarter. Finally, HBK Investments L P purchased a new position in shares of Gannett in the 4th quarter worth $161,000. Hedge funds and other institutional investors own 89.45% of the company’s stock.
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Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.
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