The Gannett Co. Plans Quarterly Dividend of $0.16 (GCI)

The 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.

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.

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