FY2018 Earnings Estimate for Gannett Co. Issued By Jefferies Group (GCI)
Gannett Co. (NYSE:GCI) – Stock analysts at Jefferies Group cut their FY2018 earnings estimates for shares of Gannett in a report released on Monday. Jefferies Group analyst J. Janedis now forecasts that the firm will post earnings of $1.37 per share for the year, down from their previous forecast of $1.40. Jefferies Group currently has a “Hold” rating on the stock.
Gannett (NYSE:GCI) last released its earnings results on Wednesday, July 27th. The company reported $0.30 EPS for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The firm had revenue of $748.80 million for the quarter, compared to the consensus estimate of $794.77 million. During the same quarter in the previous year, the business posted $0.46 EPS. Gannett’s revenue was up 3.0% on a year-over-year basis.
Other equities analysts have also issued research reports about the company. Zacks Investment Research upgraded Gannett from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research note on Thursday, July 21st. Noble Financial restated a “buy” rating and set a $23.00 price target on shares of Gannett in a research note on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $17.80.
Gannett (NYSE:GCI) traded down 2.08% during midday trading on Wednesday, reaching $10.83. 826,479 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 12.41 and a beta of 0.03. The firm’s 50 day moving average is $11.68 and its 200 day moving average is $13.88. Gannett has a 52 week low of $10.82 and a 52 week high of $17.91.
A number of large investors have recently modified their holdings of GCI. Capital International Investors raised its stake in shares of Gannett by 0.6% in the second quarter. Capital International Investors now owns 8,772,340 shares of the company’s stock worth $121,146,000 after buying an additional 53,100 shares in the last quarter. BlackRock Fund Advisors raised its stake in shares of Gannett by 36.4% in the second quarter. BlackRock Fund Advisors now owns 7,717,925 shares of the company’s stock worth $106,585,000 after buying an additional 2,060,031 shares in the last quarter. Smead Capital Management Inc. raised its stake in shares of Gannett by 6.2% in the second quarter. Smead Capital Management Inc. now owns 6,411,556 shares of the company’s stock worth $88,544,000 after buying an additional 371,795 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Gannett by 46.9% in the second quarter. Dimensional Fund Advisors LP now owns 4,201,042 shares of the company’s stock worth $58,015,000 after buying an additional 1,341,108 shares in the last quarter. Finally, Nicholas Co. Inc. WI raised its stake in shares of Gannett by 0.4% in the second quarter. Nicholas Co. Inc. WI now owns 2,926,065 shares of the company’s stock worth $40,408,000 after buying an additional 10,655 shares in the last quarter. Hedge funds and other institutional investors own 91.75% of the company’s stock.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, December 5th will be given a $0.16 dividend. The ex-dividend date is Thursday, December 1st. This represents a $0.64 dividend on an annualized basis and a yield of 5.91%. Gannett’s dividend payout ratio is currently 74.42%.
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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