Gannett Co. (GCI) Trading 0.8% Higher
Shares of Gannett Co. (NYSE:GCI) traded up 0.8% during mid-day trading on Wednesday . The company 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.
A number of analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating on shares of Gannett in a research note on Monday, August 22nd. Zacks Investment Research raised shares of Gannett from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Thursday, July 21st. Finally, Noble Financial reissued a “buy” rating and issued a $23.00 price objective on shares of Gannett in a research note on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $17.67.
The firm’s 50-day moving average is $12.60 and its 200-day moving average is $14.56. The company has a market capitalization of $1.39 billion and a P/E ratio of 13.619.
Gannett (NYSE:GCI) last released its earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.31 by $0.01. During the same quarter in the previous year, the company posted $0.46 earnings per share. The business had revenue of $748.80 million for the quarter, compared to the consensus estimate of $794.77 million. The company’s revenue was up 3.0% compared to the same quarter last year. Equities analysts predict that Gannett Co. will post $1.19 EPS for the current fiscal year.
The firm 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. This represents a $0.64 annualized dividend and a yield of 5.44%. The ex-dividend date of this dividend is Thursday, September 1st.
An institutional investor recently raised its position in Gannett stock. Principal Financial Group Inc. raised its stake in shares of Gannett Co. (NYSE:GCI) by 4.6% during the fourth quarter, according to its most recent disclosure with the SEC. The firm 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 filing with the SEC.
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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