Gannett (GCI) Rating Lowered to Hold at ValuEngine

Gannett (NYSE:GCI) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Friday.

Separately, Zacks Investment Research raised shares of Gannett from a “sell” rating to a “hold” rating in a research note on Thursday, May 10th.

Shares of Gannett opened at $10.30 on Friday, Marketbeat reports. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. Gannett has a 12 month low of $7.94 and a 12 month high of $12.38. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 10.00 and a beta of 0.99.

Gannett (NYSE:GCI) last released its quarterly earnings results on Monday, May 7th. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.03 by $0.10. The business had revenue of $722.95 million for the quarter, compared to the consensus estimate of $721.63 million. Gannett had a net margin of 0.28% and a return on equity of 12.59%. The business’s revenue was down 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.14 EPS. research analysts anticipate that Gannett will post 1.03 EPS for the current fiscal year.

Gannett announced that its board has initiated a share repurchase plan on Tuesday, May 8th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 8.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

In related news, CFO Alison K. Engel purchased 4,300 shares of Gannett stock in a transaction dated Friday, May 11th. The shares were acquired at an average cost of $11.61 per share, with a total value of $49,923.00. Following the purchase, the chief financial officer now owns 42,690 shares of the company’s stock, valued at $495,630.90. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.74% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Gannett in the 1st quarter valued at approximately $105,000. Suntrust Banks Inc. purchased a new stake in shares of Gannett in the 1st quarter valued at approximately $117,000. Elkfork Partners LLC purchased a new stake in Gannett during the 4th quarter worth approximately $139,000. Xact Kapitalforvaltning AB purchased a new stake in Gannett during the 4th quarter worth approximately $155,000. Finally, HBK Investments L P purchased a new stake in Gannett during the 4th quarter worth approximately $161,000. 91.83% of the stock is currently owned by institutional investors and hedge funds.

About Gannett

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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