Wall Street analysts expect Gannett Co Inc (NYSE:GCI) to announce $669.61 million in sales for the current quarter, Zacks reports. Two analysts have made estimates for Gannett’s earnings, with the highest sales estimate coming in at $675.10 million and the lowest estimate coming in at $664.11 million. Gannett posted sales of $722.95 million during the same quarter last year, which suggests a negative year-over-year growth rate of 7.4%. The company is scheduled to issue its next earnings results on Monday, May 6th.
On average, analysts expect that Gannett will report full year sales of $2.76 billion for the current fiscal year, with estimates ranging from $2.75 billion to $2.77 billion. For the next financial year, analysts anticipate that the business will report sales of $2.61 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Gannett.
Gannett (NYSE:GCI) last released its quarterly earnings data on Wednesday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). Gannett had a return on equity of 11.52% and a net margin of 0.52%. The business had revenue of $751.40 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same quarter in the prior year, the firm earned $0.55 earnings per share. Gannett’s quarterly revenue was down 12.0% compared to the same quarter last year.
Several large investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Gannett by 5.3% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 18,257 shares of the company’s stock worth $156,000 after purchasing an additional 911 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Gannett by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock worth $690,000 after acquiring an additional 1,778 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Gannett by 33.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock worth $69,000 after acquiring an additional 2,034 shares during the period. Hsbc Holdings PLC increased its holdings in shares of Gannett by 5.1% in the 4th quarter. Hsbc Holdings PLC now owns 52,059 shares of the company’s stock worth $444,000 after acquiring an additional 2,518 shares during the period. Finally, Bessemer Group Inc. increased its holdings in shares of Gannett by 529.9% in the 4th quarter. Bessemer Group Inc. now owns 3,200 shares of the company’s stock worth $27,000 after acquiring an additional 2,692 shares during the period. 97.93% of the stock is currently owned by institutional investors.
GCI opened at $10.71 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. Gannett has a 52-week low of $8.37 and a 52-week high of $11.99. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 9.92 and a beta of 1.31.
The firm also recently announced a quarterly dividend, which was paid on Monday, March 25th. Shareholders of record on Monday, March 11th were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 5.98%. Gannett’s dividend payout ratio (DPR) is 59.26%.
Gannett Company Profile
Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.
Featured Story: How do candlesticks reflect price movement?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gannett and related companies with MarketBeat.com's FREE daily email newsletter.