Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued 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. “
Other analysts have also recently issued reports about the company. BidaskClub cut Gannett Co. from a “buy” rating to a “hold” rating in a report on Monday. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a research note on Friday, June 23rd. Noble Financial reaffirmed a “buy” rating on shares of Gannett Co. in a research note on Sunday, May 14th. Finally, ValuEngine cut Gannett Co. from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $16.00.
Gannett Co. (NYSE:GCI) opened at 8.65 on Tuesday. The stock has a market capitalization of $982.94 million, a P/E ratio of 95.05 and a beta of 0.58. The stock has a 50 day moving average of $8.77 and a 200 day moving average of $8.53. Gannett Co. has a 52 week low of $7.30 and a 52 week high of $12.39.
Gannett Co. (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.19 by $0.01. The firm had revenue of $774.50 million for the quarter, compared to the consensus estimate of $783.06 million. Gannett Co. had a positive return on equity of 11.30% and a negative net margin of 0.07%. The business’s revenue for the quarter was up 3.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 earnings per share. On average, equities research analysts predict that Gannett Co. will post $0.95 earnings per share for the current fiscal year.
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Several hedge funds have recently made changes to their positions in the stock. Miles Capital Inc. boosted its stake in shares of Gannett Co. by 0.3% in the first quarter. Miles Capital Inc. now owns 17,702 shares of the company’s stock worth $148,000 after buying an additional 48 shares during the period. Bank of Montreal Can boosted its stake in shares of Gannett Co. by 0.7% in the second quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock worth $110,000 after buying an additional 89 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in shares of Gannett Co. by 1.0% in the first quarter. Municipal Employees Retirement System of Michigan now owns 43,910 shares of the company’s stock worth $368,000 after buying an additional 440 shares during the period. Texas Permanent School Fund boosted its stake in shares of Gannett Co. by 0.8% in the second quarter. Texas Permanent School Fund now owns 82,928 shares of the company’s stock worth $723,000 after buying an additional 692 shares during the period. Finally, Thrivent Financial For Lutherans boosted its stake in shares of Gannett Co. by 1.5% in the first quarter. Thrivent Financial For Lutherans now owns 64,330 shares of the company’s stock worth $539,000 after buying an additional 970 shares during the period. 84.08% of the stock is owned by institutional investors.
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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