Equities analysts predict that Gannett Co Inc (NYSE:GCI) will post earnings per share of ($0.03) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Gannett’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at $0.02. Gannett reported earnings per share of $0.13 in the same quarter last year, which indicates a negative year-over-year growth rate of 123.1%. The firm is scheduled to issue its next quarterly earnings results on Monday, May 6th.
According to Zacks, analysts expect that Gannett will report full-year earnings of $0.57 per share for the current financial year, with EPS estimates ranging from $0.50 to $0.62. For the next fiscal year, analysts forecast that the business will post earnings of $0.85 per share, with EPS estimates ranging from $0.63 to $1.06. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts that follow Gannett.
Gannett (NYSE:GCI) last released its earnings results on Wednesday, February 20th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.07). The business had revenue of $751.40 million during the quarter, compared to analyst estimates of $768.47 million. Gannett had a net margin of 0.52% and a return on equity of 11.52%. The business’s revenue for the quarter was down 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.55 earnings per share.
Several brokerages have recently weighed in on GCI. ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Zacks Investment Research raised Gannett from a “sell” rating to a “hold” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $11.67.
A number of institutional investors and hedge funds have recently bought and sold shares of GCI. Norges Bank acquired a new stake in Gannett in the 4th quarter valued at approximately $20,333,000. Vanguard Group Inc increased its position in Gannett by 7.2% in the 3rd quarter. Vanguard Group Inc now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after acquiring an additional 862,310 shares during the period. Vanguard Group Inc. increased its position in Gannett by 7.2% in the 3rd quarter. Vanguard Group Inc. now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after acquiring an additional 862,310 shares during the period. Matarin Capital Management LLC acquired a new stake in Gannett in the 3rd quarter valued at approximately $8,132,000. Finally, BlackRock Inc. increased its position in Gannett by 3.7% in the 3rd quarter. BlackRock Inc. now owns 16,183,546 shares of the company’s stock valued at $161,997,000 after acquiring an additional 570,900 shares during the period. Hedge funds and other institutional investors own 97.93% of the company’s stock.
NYSE:GCI traded down $0.28 on Thursday, hitting $10.56. 912,586 shares of the stock were exchanged, compared to its average volume of 1,455,789. The firm has a market capitalization of $1.23 billion, a PE ratio of 9.78 and a beta of 1.31. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.05 and a quick ratio of 0.97. Gannett has a fifty-two week low of $8.37 and a fifty-two week high of $11.99.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Investors of record on Monday, March 11th were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.06%. The ex-dividend date of this dividend was Friday, March 8th. Gannett’s dividend payout ratio is currently 59.26%.
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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