Gannett Co. (GCI) Trading Down 1%
Gannett Co. (NYSE:GCI)’s share price traded down 1% during mid-day trading on Monday . The company traded as low as $11.76 and last traded at $11.81, with a volume of 349,613 shares traded. The stock had previously closed at $11.93.
A number of equities analysts have issued reports on the company. Jefferies Group restated a “hold” rating on shares of Gannett in a report on Monday. 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 report on Thursday, July 21st. Finally, Noble Financial restated a “buy” rating and set a $23.00 target price on shares of Gannett in a report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Gannett currently has a consensus rating of “Buy” and an average price target of $17.67.
The company has a 50 day moving average price of $12.84 and a 200-day moving average price of $14.64. The firm has a market cap of $1.36 billion and a P/E ratio of 13.37.
Gannett (NYSE:GCI) last posted its quarterly 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. During the same period in the prior year, the business earned $0.46 earnings per share. The firm earned $748.80 million during the quarter, compared to the consensus estimate of $794.77 million. The business’s quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts forecast that Gannett Co. will post $1.19 EPS 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 issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.48%.
An institutional investor recently raised its position in Gannett stock. Principal Financial Group Inc. raised its position in Gannett Co. (NYSE:GCI) by 4.6% during the fourth quarter, according to its most recent disclosure 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 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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