Gannett Co. Plans Quarterly Dividend of $0.16 (GCI)
Gannett Co. (NYSE:GCI) announced a quarterly dividend on Wednesday, October 12th. Investors of record on Monday, December 5th will be paid a dividend of 0.16 per share on Monday, December 19th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.79%.
Shares of Gannett (NYSE:GCI) traded down 0.72% during mid-day trading on Wednesday, hitting $11.06. 678,954 shares of the company were exchanged. Gannett has a 12-month low of $11.03 and a 12-month high of $17.91. The company’s 50-day moving average price is $11.71 and its 200-day moving average price is $13.90. The firm has a market capitalization of $1.29 billion, a P/E ratio of 12.67 and a beta of 0.03.
Gannett (NYSE:GCI) last announced its earnings results 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. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The business had revenue of $748.80 million for the quarter, compared to analyst estimates of $794.77 million. During the same quarter in the previous year, the company earned $0.46 EPS. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts predict that Gannett will post $1.19 earnings per share for the current fiscal year.
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A number of research analysts have issued reports on GCI shares. Zacks Investment Research lowered shares of Gannett from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Jefferies Group reaffirmed a “hold” rating and set a $15.00 price target (down previously from $17.00) on shares of Gannett in a report on Monday, July 11th. Finally, Noble Financial reaffirmed a “buy” rating and set a $23.00 price target on shares of Gannett in a report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $17.80.
A number of institutional investors have recently modified their holdings of the stock. KCG Holdings Inc. acquired a new position in Gannett during the second quarter valued at about $151,000. Capstone Investment Advisors LLC acquired a new position in Gannett during the second quarter valued at about $217,000. ProShare Advisors LLC acquired a new position in Gannett during the second quarter valued at about $251,000. United Services Automobile Association increased its position in Gannett by 3.4% in the second quarter. United Services Automobile Association now owns 24,020 shares of the company’s stock valued at $332,000 after buying an additional 800 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Gannett during the second quarter valued at about $417,000. 91.75% of the stock is owned by institutional investors and hedge funds.
Gannett Company Profile
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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