Gannett (NYSE:GCI) posted its quarterly earnings data on Thursday. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.03, MarketWatch Earnings reports. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The business had revenue of $711.70 million during the quarter, compared to the consensus estimate of $723.60 million. During the same quarter last year, the company posted $0.17 earnings per share. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. Gannett updated its FY 2018 guidance to EPS.
Shares of GCI traded up $0.39 during trading hours on Friday, hitting $10.45. The company’s stock had a trading volume of 1,118,146 shares, compared to its average volume of 1,140,844. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.83. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. Gannett has a 52-week low of $9.04 and a 52-week high of $12.38.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 10th will be paid a $0.16 dividend. The ex-dividend date is Friday, December 7th. This represents a $0.64 annualized dividend and a dividend yield of 6.12%. Gannett’s payout ratio is 62.14%.
A number of analysts recently issued reports on the stock. Noble Financial set a $15.00 price objective on shares of Gannett and gave the stock a “buy” rating in a report on Tuesday, August 28th. TheStreet downgraded shares of Gannett from a “b-” rating to a “c” rating in a report on Thursday. ValuEngine downgraded shares of Gannett from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $12.50.
In other news, 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 $73,083.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $36,085.00. Following the completion of the transaction, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. Insiders sold 9,012 shares of company stock valued at $93,318 in the last quarter. Corporate insiders own 0.74% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Xact Kapitalforvaltning AB increased its stake in shares of Gannett by 32.9% in the first quarter. Xact Kapitalforvaltning AB now owns 17,776 shares of the company’s stock worth $177,000 after purchasing an additional 4,400 shares in the last quarter. Sei Investments Co. increased its stake in shares of Gannett by 16.3% in the second quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock worth $409,000 after purchasing an additional 5,343 shares in the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Gannett by 5.7% in the third quarter. State Board of Administration of Florida Retirement System now owns 104,539 shares of the company’s stock worth $1,046,000 after purchasing an additional 5,659 shares in the last quarter. AXA increased its stake in shares of Gannett by 1.2% in the third quarter. AXA now owns 537,100 shares of the company’s stock worth $5,376,000 after purchasing an additional 6,600 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its stake in shares of Gannett by 64.4% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,337 shares of the company’s stock worth $186,000 after purchasing an additional 6,790 shares in the last quarter. Hedge funds and other institutional investors own 96.34% of the company’s stock.
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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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