Gannett Co. (GCI) Hits New 52-Week Low at $11.70
Gannett Co. (NYSE:GCI) shares 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. The stock had previously closed at $11.97.
Several brokerages have commented on GCI. Jefferies Group cut their target price on Gannett from $15.00 to $14.00 and set a “hold” rating for the company in a research note on Thursday, July 28th. Zacks Investment Research upgraded Gannett from a “hold” rating to a “buy” rating and set a $16.00 target price for the company in a research note on Thursday, July 21st. Finally, Noble Financial restated a “buy” rating and issued a $23.00 target price on shares of Gannett in a research note on Monday, April 25th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Gannett presently has a consensus rating of “Buy” and a consensus target price of $17.67.
The firm has a market capitalization of $1.36 billion and a PE ratio of 13.32. The stock’s 50 day moving average price is $13.44 and its 200 day moving average price is $14.87.
Gannett (NYSE:GCI) last posted its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. During the same period in the prior year, the company earned $0.46 EPS. The firm earned $748.80 million during the quarter, compared to analysts’ expectations of $794.77 million. Gannett’s revenue was up 3.0% on a year-over-year basis. Analysts forecast that Gannett Co. will post $1.19 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Tuesday, September 6th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 5.50%. The ex-dividend date is Thursday, September 1st.
Several hedge funds and institutional investors have bought and sold shares of GCI. Globeflex Capital L P acquired a new position in Gannett during the fourth quarter valued at $1,361,000. State of Tennessee Treasury Department purchased a new stake in Gannett during the fourth quarter worth approximately $1,463,000. Rhumbline Advisers boosted its stake in Gannett by 7.8% in the fourth quarter. Rhumbline Advisers now owns 99,466 shares of the company’s stock worth $1,620,000 after buying an additional 7,157 shares during the period. Swiss National Bank boosted its stake in Gannett by 8.0% in the fourth quarter. Swiss National Bank now owns 143,608 shares of the company’s stock worth $2,339,000 after buying an additional 10,588 shares during the period. Finally, Matarin Capital Management LLC purchased a new stake in Gannett during the fourth quarter worth approximately $2,814,000.
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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