Gannett Co. (NYSE:GCI) – Investment analysts at Jefferies Group reduced their Q3 2016 earnings per share estimates for Gannett in a report released on Monday. Jefferies Group analyst J. Janedis now anticipates that the brokerage will earn $0.22 per share for the quarter, down from their prior estimate of $0.25. Jefferies Group 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.
Several other equities research analysts have also recently issued reports on the stock. Zacks Investment Research cut shares of Gannett from a “buy” rating to a “hold” rating in a research report on Thursday, July 28th. Noble Financial restated a “buy” rating and issued a $23.00 price target on shares of Gannett in a research report on Wednesday, June 29th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.80.
Shares of Gannett (NYSE:GCI) opened at 11.06 on Tuesday. The stock has a market capitalization of $1.29 billion, a PE ratio of 12.67 and a beta of 0.03. The stock has a 50 day moving average of $11.68 and a 200 day moving average of $13.88. Gannett has a 52-week low of $11.03 and a 52-week high of $17.91.
Gannett (NYSE:GCI) last posted its earnings results on Wednesday, July 27th. The company reported $0.30 EPS for the quarter, missing the Thomson Reuters’ 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 company earned $748.80 million during the quarter, compared to analysts’ expectations of $794.77 million. During the same period in the prior year, the business posted $0.46 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its position in Gannett by 43.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,794 shares of the company’s stock worth $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 worth $151,000. Amalgamated Bank boosted its position in Gannett by 5.9% in the second quarter. Amalgamated Bank now owns 13,977 shares of the company’s stock worth $163,000 after buying an additional 777 shares during the period. ARGI Investment Services LLC boosted 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 worth $177,000 after buying an additional 192 shares during the period. Finally, Parkwood LLC purchased a new position in Gannett during the second quarter worth $188,000. Institutional investors and hedge funds own 91.75% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Monday, December 5th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 5.79%. Gannett’s dividend payout ratio is presently 74.42%.
Gannett Company Profile