Gannett Co Inc (GCI) Expected to Post Quarterly Sales of $669.61 Million

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 brokerages have recently weighed in on GCI. Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research note on Monday. ValuEngine downgraded shares of Gannett from a “buy” rating to a “hold” rating in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $11.67.

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.

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Earnings History and Estimates for Gannett (NYSE:GCI)

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