Brokerages predict that Gannett (NYSE:GCI) will post $0.02 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have made estimates for Gannett’s earnings. The highest EPS estimate is $0.10 and the lowest is ($0.03). Gannett reported earnings of $0.14 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 85.7%. The business is expected to report its next earnings results on Tuesday, April 24th.
According to Zacks, analysts expect that Gannett will report full-year earnings of $1.00 per share for the current financial year, with EPS estimates ranging from $0.86 to $1.13. For the next fiscal year, analysts anticipate that the business will report earnings of $1.03 per share, with EPS estimates ranging from $0.93 to $1.15. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Gannett.
Gannett (NYSE:GCI) last released its quarterly earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. The firm had revenue of $854.00 million during the quarter, compared to analysts’ expectations of $848.74 million. Gannett had a return on equity of 13.29% and a net margin of 0.22%. Gannett’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.50 EPS.
Separately, ValuEngine upgraded Gannett from a “buy” rating to a “strong-buy” rating in a research note on Friday, February 2nd. Two research 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. The stock presently has an average rating of “Buy”.
Shares of Gannett stock traded down $0.04 on Tuesday, hitting $9.52. 902,760 shares of the company’s stock traded hands, compared to its average volume of 1,224,553. The stock has a market cap of $1,059.42, a P/E ratio of 9.24 and a beta of 0.94. The company has a current ratio of 1.16, a quick ratio of 1.10 and a debt-to-equity ratio of 0.35. Gannett has a 52-week low of $7.36 and a 52-week high of $12.38.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.72%. The ex-dividend date was Friday, March 9th. Gannett’s dividend payout ratio (DPR) is currently 62.14%.
In other news, SVP Barbara W. Wall sold 10,954 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $10.43, for a total transaction of $114,250.22. Following the completion of the transaction, the senior vice president now directly owns 18,023 shares in the company, valued at approximately $187,979.89. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider John M. Zidich sold 28,089 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $10.21, for a total value of $286,788.69. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,673 shares of company stock valued at $804,778. Company insiders own 1.06% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Fox Run Management L.L.C. purchased a new position in shares of Gannett during the 4th quarter valued at approximately $117,000. Elkfork Partners LLC purchased a new position in shares of Gannett during the 4th quarter valued at approximately $139,000. Xact Kapitalforvaltning AB purchased a new position in shares of Gannett during the 4th quarter valued at approximately $155,000. Meeder Asset Management Inc. boosted its stake in shares of Gannett by 213.9% during the 4th 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 last quarter. Finally, HBK Investments L P purchased a new position in shares of Gannett during the 4th quarter valued at approximately $161,000. Institutional investors own 89.46% of the company’s stock.
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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