Gannett Co., Inc. (GCI) Stock Price Up 5.3%

Shares of Gannett Co., Inc. (NYSE:GCI) rose 5.3% on Thursday . The company traded as high as $11.41 and last traded at $11.28. Approximately 1,589,679 shares traded hands during trading, an increase of 58% from the average daily volume of 1,009,041 shares. The stock had previously closed at $10.71.

GCI has been the subject of a number of recent analyst reports. BidaskClub upgraded Gannett Co. from a “hold” rating to a “buy” rating in a research report on Tuesday, August 1st. ValuEngine upgraded Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Zacks Investment Research downgraded Gannett Co. from a “hold” rating to a “strong sell” rating in a research report on Monday, October 9th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Gannett Co. presently has an average rating of “Buy”.

The company has a market capitalization of $1,260.00 and a PE ratio of 10.99. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.09 and a current ratio of 1.09.

Gannett Co. (NYSE:GCI) last released its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.11 by $0.05. The firm had revenue of $744.30 million during the quarter, compared to the consensus estimate of $762.97 million. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The company’s revenue was down 3.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.21) EPS. sell-side analysts predict that Gannett Co., Inc. will post 0.9 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th will be given a dividend of $0.16 per share. The ex-dividend date is Monday, December 11th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.57%. Gannett Co.’s payout ratio is 139.13%.

In other news, insider John M. Zidich sold 17,954 shares of the company’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.74% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Bank of Montreal Can lifted its position in shares of Gannett Co. by 0.7% during the 2nd 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 last quarter. Stifel Financial Corp bought a new stake in shares of Gannett Co. during the 2nd quarter worth $113,000. BB&T Securities LLC bought a new stake in shares of Gannett Co. during the 2nd quarter worth $129,000. National Asset Management Inc. lifted its position in shares of Gannett Co. by 1.9% during the 2nd quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock worth $167,000 after buying an additional 356 shares during the last quarter. Finally, WBI Investments Inc. bought a new stake in shares of Gannett Co. during the 2nd quarter worth $170,000. Institutional investors and hedge funds own 83.84% of the company’s stock.

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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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