Wall Street brokerages forecast that Gannett Co Inc (NYSE:GCI) will post $724.39 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gannett’s earnings, with the highest sales estimate coming in at $729.00 million and the lowest estimate coming in at $720.07 million. Gannett reported sales of $744.27 million in the same quarter last year, which indicates a negative year-over-year growth rate of 2.7%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Gannett will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $2.97 billion to $2.99 billion. For the next financial year, analysts anticipate that the business will report sales of $2.93 billion, with estimates ranging from $2.90 billion to $2.99 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Gannett.

Gannett (NYSE:GCI) last released its quarterly earnings data on Thursday, August 9th. The company reported $0.31 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The business had revenue of $730.77 million during the quarter, compared to analysts’ expectations of $739.17 million. During the same quarter in the prior year, the company earned $0.18 EPS. The firm’s quarterly revenue was down 5.6% on a year-over-year basis.

GCI has been the subject of a number of research reports. TheStreet upgraded Gannett from a “c” rating to a “b-” rating in a report on Friday, June 22nd. ValuEngine upgraded Gannett from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. JPMorgan Chase & Co. cut Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 target price for the company. in a report on Friday, July 6th. Noble Financial set a $15.00 target price on Gannett and gave the stock a “buy” rating in a report on Friday, July 13th. Finally, Zacks Investment Research cut Gannett from a “hold” rating to a “sell” rating in a report on Tuesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $12.50.

GCI stock opened at $9.48 on Friday. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 9.20 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 1.22. Gannett has a 1 year low of $8.42 and a 1 year high of $12.38.

The company also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 6.75%. The ex-dividend date is Friday, December 7th. Gannett’s dividend payout ratio (DPR) is presently 62.14%.

In other Gannett news, insider Andrew T. Yost sold 5,175 shares of the stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the transaction, the insider now owns 7,034 shares in the company, valued at approximately $73,083.26. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CMO Andrew T. Yost sold 3,500 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $10.31, for a total value of $36,085.00. Following the transaction, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,012 shares of company stock valued at $93,318. Corporate insiders own 1.06% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Xact Kapitalforvaltning AB grew its holdings in shares of Gannett by 32.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 17,776 shares of the company’s stock valued at $177,000 after acquiring an additional 4,400 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Gannett by 16.3% in the 2nd quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock valued at $409,000 after acquiring an additional 5,343 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gannett by 64.4% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,337 shares of the company’s stock valued at $186,000 after acquiring an additional 6,790 shares in the last quarter. Bowling Portfolio Management LLC grew its holdings in shares of Gannett by 5.5% in the 2nd quarter. Bowling Portfolio Management LLC now owns 134,126 shares of the company’s stock valued at $1,435,000 after acquiring an additional 7,001 shares in the last quarter. Finally, WBI Investments Inc. grew its holdings in shares of Gannett by 46.4% in the 2nd quarter. WBI Investments Inc. now owns 25,633 shares of the company’s stock valued at $274,000 after acquiring an additional 8,130 shares in the last quarter. Institutional investors own 98.27% of the company’s stock.

Gannett Company Profile

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.

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Earnings History and Estimates for Gannett (NYSE:GCI)

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