Gannett Co. (GCI) Announces Quarterly Earnings, Misses Expectations By $0.02 EPS
Gannett Co. (NYSE:GCI) announced its earnings results on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02, American Banking News.com reports. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the company posted $0.56 earnings per share. Gannett Co.’s revenue was down 4.3% compared to the same quarter last year.
Several analysts have recently commented on the stock. Analysts at Zacks reiterated a “hold” rating on shares of Gannett Co. in a research note to investors on Wednesday, October 9th. They now have a $27.00 price target on the stock. On a related note, analysts at UBS AG cut their price target on shares of Gannett Co. from $27.00 to $25.00 in a research note to investors on Wednesday, October 9th. They now have a “neutral” rating on the stock. Finally, analysts at Ned Davis Research upgraded shares of Gannett Co. from a “neutral” rating to a “buy” rating in a research note to investors on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $26.72.
Gannett Co. (NYSE:GCI) opened at 27.49 on Monday. Gannett Co. has a 1-year low of $16.35 and a 1-year high of $27.72. The stock has a 50-day moving average of $25.74 and a 200-day moving average of $23.84. The company has a market cap of $6.299 billion and a P/E ratio of 14.23.
Gannett Co, Inc is an international media and marketing solutions company, delivering content and services across an integrated, multiplatform portfolio.
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