FY2018 Earnings Estimate for Gannett Co. Issued By Jefferies Group (GCI)
Gannett Co. (NYSE:GCI) – Stock analysts at Jefferies Group dropped their FY2018 earnings per share estimates for Gannett in a research note issued on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will post earnings per share of $1.37 for the year, down from their previous estimate of $1.40. Jefferies Group currently has a “Hold” rating on the stock.
Several other research firms have also recently commented on GCI. Zacks Investment Research cut shares of Gannett from a “buy” rating to a “hold” rating in a research report on Tuesday, July 19th. Noble Financial reaffirmed a “buy” rating and issued a $23.00 price objective on shares of Gannett in a research report on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Gannett currently has a consensus rating of “Hold” and a consensus price target of $17.80.
Shares of Gannett (NYSE:GCI) traded down 2.08% during midday trading on Wednesday, hitting $10.83. The stock had a trading volume of 826,479 shares. The firm has a market capitalization of $1.26 billion, a PE ratio of 12.41 and a beta of 0.03. Gannett has a 1-year low of $10.82 and a 1-year high of $17.91. The company’s 50 day moving average price is $11.68 and its 200-day moving average price is $13.88.
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Gannett (NYSE:GCI) last issued its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.31 by $0.01. The business earned $748.80 million during the quarter, compared to analyst estimates of $794.77 million. Gannett had a net margin of 3.62% and a return on equity of 17.02%. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.46 earnings per share.
A number of large investors have recently modified their holdings of GCI. Tower Research Capital LLC TRC boosted its stake in shares of Gannett by 43.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,794 shares of the company’s stock valued at $107,000 after buying an additional 2,365 shares during the period. KCG Holdings Inc. purchased a new position in Gannett during the second quarter valued at $151,000. Amalgamated Bank raised its position in Gannett by 5.9% in the second quarter. Amalgamated Bank now owns 13,977 shares of the company’s stock valued at $163,000 after buying an additional 777 shares in the last quarter. ARGI Investment Services LLC raised its position in Gannett by 1.5% in the second quarter. ARGI Investment Services LLC now owns 12,909 shares of the company’s stock valued at $177,000 after buying an additional 192 shares in the last quarter. Finally, Parkwood LLC purchased a new position in Gannett during the second quarter valued at $188,000. 91.75% of the stock is currently owned by hedge funds and other institutional investors.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Shareholders of record on Monday, December 5th will be given a dividend of $0.16 per share. The ex-dividend date is Thursday, December 1st. This represents a $0.64 annualized dividend and a yield of 5.91%. Gannett’s dividend payout ratio (DPR) is presently 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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