Gannett Co. (GCI) Trading Up 0.8%
Gannett Co. (NYSE:GCI) was up 0.8% on Wednesday . The stock traded as high as $11.98 and last traded at $11.96, with a volume of 375,863 shares traded. The stock had previously closed at $11.87.
Several equities research analysts have weighed in on GCI shares. Zacks Investment Research cut Gannett from a “buy” rating to a “hold” rating in a report on Tuesday, July 19th. Jefferies Group reiterated a “hold” rating and issued a $15.00 price objective (down previously from $17.00) on shares of Gannett in a report on Monday, July 11th. Finally, Noble Financial reiterated a “buy” rating and issued a $23.00 price objective on shares of Gannett in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $17.67.
The company’s 50-day moving average price is $12.73 and its 200-day moving average price is $14.60. The stock has a market capitalization of $1.39 billion and a P/E ratio of 13.67.
Gannett (NYSE:GCI) last issued its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. During the same quarter last year, the business earned $0.46 earnings per share. The firm earned $748.80 million during the quarter, compared to analysts’ expectations of $794.77 million. The company’s revenue was up 3.0% on a year-over-year basis. On average, equities analysts expect that Gannett Co. will post $1.19 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 5.36%.
An institutional investor recently raised its position in Gannett stock. Principal Financial Group Inc. increased its stake in Gannett Co. (NYSE:GCI) by 4.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 780,865 shares of the company’s stock after buying an additional 34,086 shares during the period. Principal Financial Group Inc. owned about 0.68% of Gannett worth $12,720,000 as of its most recent SEC filing.
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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