Analysts Set Expectations for Gannett Co.’s Q3 2016 Earnings (GCI)
Gannett Co. (NYSE:GCI) – Equities research analysts at Jefferies Group lowered their Q3 2016 EPS estimates for shares of Gannett in a report released on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings per share of $0.22 for the quarter, down from their prior forecast of $0.25. Jefferies Group currently has a “Hold” rating on the stock. Jefferies Group also issued estimates for Gannett’s Q4 2016 earnings at $0.47 EPS, FY2016 earnings at $1.27 EPS, Q3 2017 earnings at $0.21 EPS, Q4 2017 earnings at $0.47 EPS and FY2017 earnings at $1.28 EPS.
GCI has been the topic of several other reports. Zacks Investment Research upgraded Gannett from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Thursday, July 21st. Noble Financial reiterated a “buy” rating and issued a $23.00 price target on shares of Gannett in a report on Wednesday, June 29th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $17.80.
Gannett (NYSE:GCI) traded down 2.17% on Tuesday, hitting $11.25. The stock had a trading volume of 714,910 shares. The firm has a market cap of $1.31 billion, a PE ratio of 12.89 and a beta of 0.03. The company has a 50-day moving average price of $11.74 and a 200 day moving average price of $13.92. Gannett has a 52-week low of $11.17 and a 52-week high of $17.91.
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Gannett (NYSE:GCI) last announced its quarterly earnings data on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.31 by $0.01. The company had revenue of $748.80 million for the quarter, compared to analysts’ expectations of $794.77 million. Gannett had a net margin of 3.62% and a return on equity of 17.02%. The firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.46 EPS.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Gannett during the fourth quarter valued at about $32,474,000. Commonwealth Equity Services Inc boosted its position in shares of Gannett by 7.3% in the first quarter. Commonwealth Equity Services Inc now owns 22,144 shares of the company’s stock valued at $335,000 after buying an additional 1,508 shares during the period. Teachers Advisors Inc. boosted its position in shares of Gannett by 7.7% in the first quarter. Teachers Advisors Inc. now owns 302,940 shares of the company’s stock valued at $4,587,000 after buying an additional 21,748 shares during the period. Prudential Financial Inc. boosted its position in shares of Gannett by 8.5% in the first quarter. Prudential Financial Inc. now owns 287,978 shares of the company’s stock valued at $4,360,000 after buying an additional 22,577 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Gannett by 232.0% in the first quarter. BlackRock Inc. now owns 16,468 shares of the company’s stock valued at $250,000 after buying an additional 11,508 shares during the period. 91.75% of the stock is currently owned by institutional investors.
The company also recently disclosed a quarterly dividend, which was paid on Monday, September 19th. Investors of record on Tuesday, September 6th were paid a $0.16 dividend. The ex-dividend date was Thursday, September 1st. This represents a $0.64 annualized dividend and a yield of 5.57%. Gannett’s dividend payout ratio (DPR) is currently 74.42%.
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.
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