Zacks Investment Research downgraded shares of Gannett (NYSE:GCI) from a hold rating to a sell rating in a report published on Tuesday.

According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “

A number of other research analysts have also recently commented on GCI. TheStreet upgraded Gannett from a c rating to a b- rating in a research report on Friday, June 22nd. ValuEngine upgraded Gannett from a hold rating to a buy rating in a research report on Monday, July 2nd. JPMorgan Chase & Co. cut Gannett from a neutral rating to an underweight rating and set a $10.00 price target on the stock. in a research report on Friday, July 6th. Finally, Noble Financial set a $15.00 price target on Gannett and gave the stock a buy rating in a research report on Friday, July 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the stock. Gannett currently has an average rating of Hold and a consensus target price of $12.50.

Shares of NYSE GCI opened at $9.61 on Tuesday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. Gannett has a 52 week low of $8.42 and a 52 week high of $12.38. The firm has a market capitalization of $1.07 billion, a P/E ratio of 9.33 and a beta of 0.91.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.31 EPS for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.10. Gannett had a return on equity of 13.14% and a net margin of 0.83%. The company had revenue of $730.77 million for the quarter, compared to analysts’ expectations of $739.17 million. During the same quarter last year, the business earned $0.18 earnings per share. Gannett’s revenue was down 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Gannett will post 1.07 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 10th will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.66%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s payout ratio is currently 62.14%.

In other Gannett news, CMO Andrew T. Yost sold 3,500 shares of Gannett 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 in the company, valued at $36,435.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Andrew T. Yost sold 5,175 shares of Gannett stock in a transaction dated Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total value 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 disclosure for this sale can be found here. In the last quarter, insiders sold 9,012 shares of company stock worth $93,318. Company insiders own 0.74% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB grew its position in Gannett by 32.9% in the first 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 during the last quarter. Sei Investments Co. grew its position in Gannett by 16.3% in the second 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 during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in Gannett by 64.4% in the second 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 during the last quarter. Bowling Portfolio Management LLC grew its position in Gannett by 5.5% in the second 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 during the last quarter. Finally, WBI Investments Inc. grew its position in Gannett by 46.4% in the second 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 during the last quarter. Hedge funds and other institutional investors own 98.28% 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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