Gannett (GCI) Upgraded at TheStreet

TheStreet upgraded shares of Gannett (NYSE:GCI) from a c rating to a b- rating in a research report report published on Friday.

GCI has been the subject of several other research reports. ValuEngine cut Gannett from a buy rating to a hold rating in a research report on Friday, June 15th. Zacks Investment Research upgraded Gannett from a sell rating to a hold rating in a report on Thursday, May 10th.

Shares of Gannett opened at $10.62 on Friday, Marketbeat.com reports. The firm has a market capitalization of $1.20 billion, a PE ratio of 10.31 and a beta of 0.99. The company has a quick ratio of 1.16, a current 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.

Gannett (NYSE:GCI) last issued its earnings results on Monday, May 7th. The company reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.03 by $0.10. The business had revenue of $722.95 million during the quarter, compared to analysts’ expectations of $721.63 million. Gannett had a return on equity of 12.59% and a net margin of 0.28%. Gannett’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. analysts predict that Gannett will post 1.03 earnings per share for the current fiscal year.

Gannett announced that its Board of Directors has initiated a stock buyback program on Tuesday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 25th. Investors of record on Monday, June 11th were issued a dividend of $0.16 per share. The ex-dividend date was Friday, June 8th. This represents a $0.64 annualized dividend and a dividend yield of 6.03%. Gannett’s dividend payout ratio is 62.14%.

In other news, CFO Alison K. Engel acquired 4,300 shares of the business’s stock in a transaction that occurred on Friday, May 11th. The stock was acquired at an average cost of $11.61 per share, for a total transaction of $49,923.00. Following the completion of the acquisition, the chief financial officer now owns 42,690 shares in the company, valued at $495,630.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.06% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in GCI. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Gannett during the first quarter worth $105,000. Suntrust Banks Inc. bought a new position in Gannett during the first quarter valued at about $117,000. Elkfork Partners LLC bought a new position in Gannett during the fourth quarter valued at about $139,000. Xact Kapitalforvaltning AB bought a new position in Gannett during the fourth quarter valued at about $155,000. Finally, HBK Investments L P bought a new position in Gannett during the fourth quarter valued at about $161,000. Institutional investors and hedge funds own 91.55% of the company’s stock.

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.

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