Gannett Co. (GCI) Trading Down 1.9%
Gannett Co. (NYSE:GCI)’s share price was down 1.9% during trading on Monday . The stock traded as low as $11.95 and last traded at $12.04, with a volume of 565,751 shares changing hands. The stock had previously closed at $12.27.
Several equities analysts recently commented on GCI shares. Zacks Investment Research lowered shares of Gannett from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Jefferies Group reaffirmed a “hold” rating and issued a $15.00 price objective (down from $17.00) on shares of Gannett in a research report on Monday, July 11th. Finally, Noble Financial reaffirmed a “buy” rating and issued a $23.00 price objective 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 given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $17.67.
The firm has a market capitalization of $1.39 billion and a P/E ratio of 13.71. The stock has a 50-day moving average price of $13.63 and a 200-day moving average price of $14.91.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. The business 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 earned $0.46 EPS. Gannett’s revenue for the quarter was up 3.0% on a year-over-year basis. On average, equities research analysts predict that Gannett Co. will post $1.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 19th. Stockholders of record on Tuesday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.35%. The ex-dividend date is Thursday, September 1st.
Several institutional investors recently made changes to their positions in the company. Nicholas Co. Inc. WI increased its position in shares of Gannett by 4.2% in the fourth quarter. Nicholas Co. Inc. WI now owns 2,710,150 shares of the company’s stock worth $44,148,000 after buying an additional 109,425 shares in the last quarter. State of Tennessee Treasury Department bought a new position in shares of Gannett during the fourth quarter worth approximately $1,463,000. Globeflex Capital L P bought a new position in shares of Gannett during the fourth quarter worth approximately $1,361,000. Swiss National Bank increased its position in shares of 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 in the last quarter. Finally, Rhumbline Advisers increased its position in shares of 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 in the last quarter.
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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