Gannett Co Inc (NYSE:GCI) shares hit a new 52-week low during trading on Monday . The stock traded as low as $8.32 and last traded at $8.32, with a volume of 12624 shares trading hands. The stock had previously closed at $8.54.
Several research analysts recently commented on GCI shares. Zacks Investment Research cut Gannett from a “hold” rating to a “sell” rating in a research report on Wednesday, February 27th. ValuEngine cut Gannett from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has given a buy rating to the stock. Gannett currently has an average rating of “Hold” and a consensus target price of $11.67.
The stock has a market cap of $978.00 million, a PE ratio of 7.32 and a beta of 1.22. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.00 and a quick ratio of 1.00.
Gannett (NYSE:GCI) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.08. Gannett had a return on equity of 11.24% and a net margin of 0.12%. The company had revenue of $663.40 million during the quarter, compared to analysts’ expectations of $677.85 million. During the same period last year, the firm posted $0.13 earnings per share. The business’s revenue was down 8.2% on a year-over-year basis. On average, equities research analysts predict that Gannett Co Inc will post 0.59 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Stockholders of record on Monday, June 10th will be given a $0.16 dividend. The ex-dividend date is Friday, June 7th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 8.09%. Gannett’s payout ratio is 59.26%.
Several institutional investors and hedge funds have recently added to or reduced their stakes in GCI. Teachers Advisors LLC lifted its position in shares of Gannett by 3.8% in the third 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 during the last quarter. Legal & General Group Plc lifted its holdings in Gannett by 10.3% during the 3rd quarter. Legal & General Group Plc now owns 366,372 shares of the company’s stock worth $3,676,000 after purchasing an additional 34,296 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Gannett by 7.2% during the 3rd quarter. Vanguard Group Inc. now owns 12,836,904 shares of the company’s stock worth $128,497,000 after purchasing an additional 862,310 shares during the last quarter. Bank of Montreal Can lifted its holdings in Gannett by 83.6% during the 4th quarter. Bank of Montreal Can now owns 136,723 shares of the company’s stock worth $1,167,000 after purchasing an additional 62,269 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Gannett by 33.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock worth $69,000 after purchasing an additional 2,034 shares during the last quarter. 97.93% of the stock is owned by institutional investors.
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About Gannett (NYSE:GCI)
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.
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