Analysts forecast that Gannett Co Inc (NYSE:GCI) will report sales of $848.50 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gannett’s earnings, with estimates ranging from $837.00 million to $858.50 million. Gannett posted sales of $866.99 million during the same quarter last year, which would indicate a negative year over year growth rate of 2.1%. The firm is scheduled to report its next earnings report before the market opens on Tuesday, February 20th.
On average, analysts expect that Gannett will report full year sales of $848.50 million for the current fiscal year, with estimates ranging from $3.13 billion to $3.16 billion. For the next fiscal year, analysts expect that the firm will report sales of $3.03 billion per share, with estimates ranging from $2.96 billion to $3.11 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover Gannett.
GCI has been the topic of a number of analyst reports. ValuEngine upgraded shares of Gannett from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy”.
Several hedge funds have recently added to or reduced their stakes in GCI. Stifel Financial Corp purchased a new position in shares of Gannett during the second quarter valued at about $113,000. Fox Run Management L.L.C. purchased a new position in shares of Gannett during the fourth quarter valued at about $117,000. Koch Industries Inc. purchased a new position in shares of Gannett during the second quarter valued at about $127,000. Meeder Asset Management Inc. increased its position in shares of Gannett by 213.9% during the fourth quarter. Meeder Asset Management Inc. now owns 13,886 shares of the company’s stock valued at $161,000 after buying an additional 9,462 shares during the period. Finally, HBK Investments L P purchased a new position in shares of Gannett during the fourth quarter valued at about $161,000. Hedge funds and other institutional investors own 87.13% of the company’s stock.
Gannett (NYSE:GCI) opened at $11.26 on Tuesday. Gannett has a 52-week low of $7.36 and a 52-week high of $12.38. The stock has a market cap of $1,260.00 and a PE ratio of 24.48. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gannett and related companies with MarketBeat.com's FREE daily email newsletter.