Gannett Co., Inc. (NYSE:GCI) SVP Barbara W. Wall sold 2,049 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $11.51, for a total transaction of $23,583.99. Following the completion of the transaction, the senior vice president now owns 10,954 shares of the company’s stock, valued at $126,080.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Shares of Gannett Co., Inc. (GCI) traded down $0.35 during trading hours on Thursday, hitting $11.34. 1,244,602 shares of the company traded hands, compared to its average volume of 1,048,722. Gannett Co., Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $12.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1,305.46, a P/E ratio of 11.92 and a beta of 0.85.
Gannett (NYSE:GCI) last released its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. Gannett had a net margin of 1.43% and a return on equity of 13.25%. The company had revenue of $744.30 million during the quarter, compared to the consensus estimate of $762.97 million. During the same quarter in the prior year, the firm earned ($0.21) EPS. The company’s revenue was down 3.6% compared to the same quarter last year. sell-side analysts predict that Gannett Co., Inc. will post 0.9 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be given a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 dividend on an annualized basis and a yield of 5.64%. Gannett’s payout ratio is 164.11%.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its stake in shares of Gannett by 43,997.2% during the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock worth $120,348,000 after purchasing an additional 14,328,569 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Gannett by 4.3% during the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock worth $93,588,000 after purchasing an additional 439,304 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Gannett by 10.5% during the 3rd quarter. Dimensional Fund Advisors LP now owns 6,751,566 shares of the company’s stock worth $60,764,000 after purchasing an additional 641,893 shares during the last quarter. State Street Corp increased its stake in shares of Gannett by 3.1% during the 2nd quarter. State Street Corp now owns 3,165,173 shares of the company’s stock worth $27,595,000 after purchasing an additional 96,469 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its stake in Gannett by 15.0% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 1,797,837 shares of the company’s stock valued at $16,181,000 after buying an additional 234,682 shares during the last quarter. Institutional investors own 84.77% of the company’s stock.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Gannett from a “hold” rating to a “strong sell” rating in a report on Monday, October 9th. ValuEngine upgraded shares of Gannett from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy”.
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Gannett Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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