Gannett Co Inc (GCI) Expected to Announce Quarterly Sales of $848.50 Million

Brokerages expect Gannett Co Inc (NYSE:GCI) to report sales of $848.50 million for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Gannett’s earnings. The highest sales estimate is $858.50 million and the lowest is $837.00 million. Gannett reported sales of $866.99 million in the same quarter last year, which would suggest a negative year over year growth rate of 2.1%. The business is expected to report its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that Gannett will report full-year sales of $848.50 million for the current fiscal year, with estimates ranging from $3.13 billion to $3.16 billion. For the next year, analysts anticipate that the company will report sales of $3.03 billion per share, with estimates ranging from $2.96 billion to $3.11 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Gannett.

Gannett (NYSE:GCI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.11 by $0.05. Gannett had a return on equity of 13.25% and a net margin of 1.43%. The firm had revenue of $744.30 million for the quarter, compared to analysts’ expectations of $762.97 million. During the same period in the previous year, the firm earned ($0.21) EPS. The business’s quarterly revenue was down 3.6% on a year-over-year basis.

Separately, Zacks Investment Research raised Gannett from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Gannett presently has a consensus rating of “Buy”.

In other news, insider John M. Zidich sold 17,954 shares of Gannett stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $10.71, for a total transaction of $192,287.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders have sold 20,579 shares of company stock worth $222,035. Insiders own 0.74% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp purchased a new position in Gannett in the 2nd quarter worth approximately $113,000. Koch Industries Inc. purchased a new position in Gannett in the 2nd quarter worth approximately $127,000. National Asset Management Inc. lifted its holdings in Gannett by 1.9% in the 2nd quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock worth $167,000 after purchasing an additional 356 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in Gannett in the 2nd quarter worth approximately $214,000. Finally, Verition Fund Management LLC purchased a new position in Gannett in the 2nd quarter worth approximately $219,000. 84.66% of the stock is currently owned by institutional investors.

Gannett (NYSE GCI) traded down $0.06 during mid-day trading on Thursday, hitting $12.05. The stock had a trading volume of 148,843 shares, compared to its average volume of 927,573. Gannett has a 12-month low of $7.36 and a 12-month high of $12.38. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1,340.00 and a PE ratio of 26.20.

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Gannett 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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Earnings History and Estimates for Gannett (NYSE:GCI)

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