Gannett Co. Price Target Raised to $33.00 at Benchmark Co. (GCI)
Analysts at Benchmark Co. boosted their target price on shares of Gannett Co. (NYSE:GCI) from $32.00 to $33.00 in a research report issued to clients and investors on Friday, AR Network reports. Benchmark Co.’s target price suggests a potential upside of 19.09% from the stock’s previous close.
Gannett Co. (NYSE:GCI) traded up 0.40% during mid-day trading on Friday, hitting $27.71. 1,923,064 shares of the company’s stock traded hands. Gannett Co. has a one year low of $18.89 and a one year high of $30.43. The stock’s 50-day moving average is $28.46 and its 200-day moving average is $26.67. The company has a market cap of $6.315 billion and a P/E ratio of 16.63.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.01. The company had revenue of $1.37 billion for the quarter, compared to the consensus estimate of $1.37 billion. During the same quarter last year, the company posted $0.89 earnings per share. Gannett Co.’s revenue was down 9.9% compared to the same quarter last year. On average, analysts predict that Gannett Co. will post $2.74 earnings per share for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Gannett Co. in a research note to investors on Thursday. They now have a $28.00 price target on the stock. Separately, analysts at Thomson Reuters/Verus downgraded shares of Gannett Co. from a “buy” rating to a “hold” rating in a research note to investors on Monday. Finally, analysts at Ned Davis Research downgraded shares of Gannett Co. from a “buy” rating to a “neutral” rating in a research note to investors on Monday, January 27th. One analyst has rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $29.81.
In other Gannett Co. news, Director Tony Prophet acquired 2,000 shares of the company’s stock on the open market in a transaction that occurred on Thursday, February 6th. The stock was purchased at an average cost of $27.37 per share, for a total transaction of $54,740.00. Following the completion of the transaction, the director now directly owns 2,000 shares of the company’s stock, valued at approximately $54,740. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Gannett Co, Inc is an international media and marketing solutions company, delivering content and services across an integrated, multiplatform portfolio.
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