Gannett Co., Inc. (GCI) Upgraded to Hold at Zacks Investment Research
Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “
A number of other equities analysts have also weighed in on the stock. Noble Financial reiterated a “buy” rating on shares of Gannett Co. in a research report on Sunday, May 14th. ValuEngine lowered shares of Gannett Co. from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. BidaskClub upgraded shares of Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, June 30th. Finally, TheStreet upgraded shares of Gannett Co. from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. Four investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $16.00.
Gannett Co. (NYSE GCI) traded down 3.56% during mid-day trading on Tuesday, hitting $8.68. 1,049,924 shares of the stock traded hands. The company has a 50 day moving average of $8.76 and a 200-day moving average of $8.55. Gannett Co. has a 12-month low of $7.30 and a 12-month high of $12.39. The stock has a market cap of $986.35 million, a PE ratio of 95.38 and a beta of 0.58.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.19 by $0.01. Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The firm had revenue of $774.50 million during the quarter, compared to analysts’ expectations of $783.06 million. During the same quarter last year, the business earned $0.30 earnings per share. The business’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Gannett Co. will post $0.99 earnings per share for the current year.
Several large investors have recently modified their holdings of GCI. Advisors Asset Management Inc. raised its stake in shares of Gannett Co. by 82.3% in the first quarter. Advisors Asset Management Inc. now owns 680,423 shares of the company’s stock valued at $5,702,000 after buying an additional 307,227 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Gannett Co. by 45.1% in the first quarter. First Trust Advisors LP now owns 264,920 shares of the company’s stock valued at $2,220,000 after buying an additional 82,367 shares during the last quarter. LSV Asset Management raised its stake in shares of Gannett Co. by 0.8% in the first quarter. LSV Asset Management now owns 2,643,895 shares of the company’s stock valued at $22,155,000 after buying an additional 21,727 shares during the last quarter. Heartland Advisors Inc. bought a new stake in shares of Gannett Co. during the first quarter valued at approximately $3,352,000. Finally, Great West Life Assurance Co. Can raised its stake in shares of Gannett Co. by 2.8% in the first quarter. Great West Life Assurance Co. Can now owns 155,621 shares of the company’s stock valued at $1,303,000 after buying an additional 4,268 shares during the last quarter. Institutional investors own 84.08% of the company’s stock.
Gannett Co. Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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