Zacks: Brokerages Expect Gannett Co Inc (GCI) Will Post Earnings of $0.13 Per Share

Wall Street brokerages expect Gannett Co Inc (NYSE:GCI) to announce earnings of $0.13 per share for the current quarter, according to Zacks. Two analysts have made estimates for Gannett’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.16. Gannett reported earnings of $0.31 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 58.1%. The firm is expected to report its next earnings report on Thursday, August 8th.

On average, analysts expect that Gannett will report full-year earnings of $0.59 per share for the current financial year, with EPS estimates ranging from $0.57 to $0.60. For the next financial year, analysts expect that the company will post earnings of $0.82 per share, with EPS estimates ranging from $0.58 to $1.06. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover Gannett.

Gannett (NYSE:GCI) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.10 EPS for the quarter, beating the consensus estimate of $0.02 by $0.08. Gannett had a net margin of 0.12% and a return on equity of 11.24%. The business had revenue of $663.40 million during the quarter, compared to the consensus estimate of $677.85 million. During the same quarter in the prior year, the firm earned $0.13 EPS. The business’s revenue was down 8.2% on a year-over-year basis.

GCI has been the subject of a number of analyst reports. Zacks Investment Research raised shares of Gannett from a “sell” rating to a “hold” rating in a report on Wednesday, May 1st. ValuEngine downgraded shares of Gannett from a “buy” rating to a “hold” rating in a report on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $11.67.

GCI opened at $8.87 on Monday. Gannett has a 52 week low of $8.37 and a 52 week high of $11.99. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 8.21 and a beta of 1.22. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.55.

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 24th. Investors of record on Monday, June 10th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.22%. The ex-dividend date is Friday, June 7th. Gannett’s payout ratio is 59.26%.

A number of institutional investors have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. raised its position in Gannett by 5.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,257 shares of the company’s stock worth $156,000 after purchasing an additional 911 shares during the period. Mason Street Advisors LLC increased its position in shares of Gannett by 4.7% during the first quarter. Mason Street Advisors LLC now owns 36,761 shares of the company’s stock worth $387,000 after acquiring an additional 1,635 shares during the period. Thrivent Financial for Lutherans increased its position in shares of Gannett by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock worth $690,000 after acquiring an additional 1,778 shares during the period. Piedmont Investment Advisors Inc. increased its position in shares of Gannett by 6.7% during the first quarter. Piedmont Investment Advisors Inc. now owns 28,721 shares of the company’s stock worth $303,000 after acquiring an additional 1,801 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gannett by 33.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock worth $69,000 after acquiring an additional 2,034 shares during the period. 97.93% of the stock is currently owned by institutional investors.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.

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