Gannett (GCI) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of Gannett (NYSE:GCI) from a sell rating to a hold rating in a research report released on Tuesday morning.

According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “

GCI has been the subject of several other research reports. Noble Financial set a $15.00 price objective on shares of Gannett and gave the company a buy rating in a research report on Friday, July 13th. JPMorgan Chase & Co. lowered shares of Gannett from a neutral rating to an underweight rating and set a $10.00 price objective for the company. in a research report on Friday, July 6th. Finally, ValuEngine upgraded shares of Gannett from a sell rating to a hold rating in a research report on Wednesday, August 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and an average target price of $12.50.

NYSE:GCI opened at $9.77 on Tuesday. Gannett has a twelve month low of $8.84 and a twelve month high of $12.38. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 1.22. The stock has a market cap of $1.10 billion, a PE ratio of 8.43 and a beta of 0.83.

Gannett (NYSE:GCI) last posted its quarterly earnings data on Thursday, August 9th. The company reported $0.31 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The company had revenue of $730.77 million during the quarter, compared to analyst estimates of $739.17 million. During the same quarter last year, the firm posted $0.18 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts expect that Gannett will post 1.09 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.55%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s dividend payout ratio is presently 62.14%.

In other Gannett news, CMO Andrew T. Yost sold 3,500 shares of the company’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $10.31, for a total transaction of $36,085.00. Following the completion of the sale, the chief marketing officer now directly owns 3,534 shares of the company’s stock, valued at $36,435.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total transaction of $53,768.25. Following the sale, the insider now directly owns 7,034 shares of the company’s stock, valued at $73,083.26. The disclosure for this sale can be found here. Insiders have sold 9,012 shares of company stock valued at $93,318 over the last ninety days. Insiders own 0.74% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Suntrust Banks Inc. purchased a new stake in Gannett during the first quarter valued at about $117,000. NJ State Employees Deferred Compensation Plan purchased a new stake in Gannett during the third quarter valued at about $120,000. Itau Unibanco Holding S.A. purchased a new stake in Gannett during the second quarter valued at about $136,000. CSat Investment Advisory L.P. purchased a new stake in Gannett during the second quarter valued at about $160,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Gannett during the third quarter valued at about $150,000. 98.32% of the stock is owned by institutional investors.

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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