Gannett Co. (GCI) Sets New 12-Month Low at $11.70
Shares of Gannett Co. (NYSE:GCI) hit a new 52-week low during trading on Tuesday . The stock traded as low as $11.70 and last traded at $11.74, with a volume of 478,036 shares traded. The stock had previously closed at $11.97.
Several brokerages have commented on GCI. Jefferies Group reaffirmed a “hold” rating on shares of Gannett in a research report on Friday. Zacks Investment Research lowered shares of Gannett from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Finally, Noble Financial reissued a “buy” rating and issued a $23.00 price target on shares of Gannett in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $17.67.
The firm has a market cap of $1.37 billion and a P/E ratio of 13.48. The stock’s 50 day moving average is $13.63 and its 200-day moving average is $14.91.
Gannett (NYSE:GCI) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. The firm had revenue of $748.80 million for the quarter, compared to analysts’ expectations of $794.77 million. The firm’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.46 earnings per share. On average, equities research analysts expect that Gannett Co. will post $1.18 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Tuesday, September 6th will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Thursday, September 1st.
A number of hedge funds and institutional investors have recently bought and sold shares of the company. Argent Capital Management LLC raised its position in Gannett by 0.7% in the fourth quarter. Argent Capital Management LLC now owns 759,392 shares of the company’s stock valued at $12,370,000 after buying an additional 5,323 shares during the last quarter. Nicholas Co. Inc. WI raised its position in Gannett by 4.2% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,710,150 shares of the company’s stock valued at $44,148,000 after buying an additional 109,425 shares during the last quarter. State of Tennessee Treasury Department purchased a new position in Gannett during the fourth quarter valued at approximately $1,463,000. Matarin Capital Management LLC purchased a new position in Gannett during the fourth quarter valued at approximately $2,814,000. Finally, Globeflex Capital L P purchased a new position in Gannett during the fourth quarter valued at approximately $1,361,000.
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.
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