Brokerages expect Gannett Co Inc (NYSE:GCI) to announce $0.51 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for Gannett’s earnings, with estimates ranging from $0.48 to $0.54. Gannett reported earnings of $0.55 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.3%. The business is expected to report its next earnings report on Tuesday, February 19th.
According to Zacks, analysts expect that Gannett will report full-year earnings of $1.13 per share for the current financial year, with EPS estimates ranging from $1.11 to $1.15. For the next fiscal year, analysts forecast that the firm will post earnings of $1.04 per share, with EPS estimates ranging from $1.03 to $1.04. Zacks’ earnings per share averages are an average based on a survey of research firms that that provide coverage for Gannett.
Gannett (NYSE:GCI) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.03. Gannett had a net margin of 0.52% and a return on equity of 12.75%. The business had revenue of $711.70 million during the quarter, compared to analysts’ expectations of $723.60 million. During the same quarter in the previous year, the company earned $0.17 EPS. The business’s revenue was down 4.4% on a year-over-year basis.
Several analysts have weighed in on the stock. ValuEngine upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. Zacks Investment Research cut shares of Gannett from a “buy” rating to a “hold” rating in a research note on Thursday, November 15th. TheStreet cut shares of Gannett from a “b-” rating to a “c” rating in a research note on Thursday, November 8th. Finally, Noble Financial set a $15.00 price objective on shares of Gannett and gave the stock a “buy” rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. Gannett currently has a consensus rating of “Hold” and an average target price of $12.00.
Shares of Gannett stock opened at $10.20 on Tuesday. Gannett has a twelve month low of $9.04 and a twelve month high of $12.23. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.90 and a beta of 0.85.
The firm 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 $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.27%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s dividend payout ratio (DPR) is 62.14%.
Institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Gannett by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after buying an additional 862,310 shares in the last quarter. Legal & General Group Plc raised its position in shares of Gannett by 10.3% in the 3rd quarter. Legal & General Group Plc now owns 366,372 shares of the company’s stock valued at $3,676,000 after buying an additional 34,296 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Gannett by 3.8% in the 3rd quarter. Teachers Advisors LLC now owns 235,614 shares of the company’s stock valued at $2,358,000 after buying an additional 8,579 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Gannett by 2.8% in the 3rd quarter. AQR Capital Management LLC now owns 393,636 shares of the company’s stock valued at $3,940,000 after buying an additional 10,650 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its position in shares of Gannett by 55.2% in the 3rd quarter. MetLife Investment Advisors LLC now owns 75,151 shares of the company’s stock valued at $752,000 after buying an additional 26,744 shares in the last quarter. Institutional investors and hedge funds own 97.89% of the company’s stock.
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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