Wall Street brokerages forecast that Gannett (NYSE:GCI) will report sales of $723.89 million for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Gannett’s earnings. The lowest sales estimate is $717.00 million and the highest is $729.77 million. Gannett reported sales of $773.46 million during the same quarter last year, which indicates a negative year over year growth rate of 6.4%. The business is scheduled to report its next earnings report on Tuesday, April 24th.
On average, analysts expect that Gannett will report full year sales of $723.89 million for the current year, with estimates ranging from $2.93 billion to $3.02 billion. For the next year, analysts forecast that the company will report sales of $2.87 billion per share, with estimates ranging from $2.81 billion to $2.97 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that follow Gannett.
Gannett (NYSE:GCI) last issued its quarterly earnings data on Tuesday, February 20th. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.46 by $0.09. The firm had revenue of $854.00 million during the quarter, compared to the consensus estimate of $848.74 million. Gannett had a return on equity of 13.29% and a net margin of 0.22%. The company’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share.
Shares of Gannett stock traded up $0.05 on Monday, hitting $9.98. The company had a trading volume of 1,678,217 shares, compared to its average volume of 1,208,547. The company has a market cap of $1,125.98, a PE ratio of 9.69 and a beta of 1.00. Gannett has a 1 year low of $7.36 and a 1 year high of $12.38. The company has a quick ratio of 1.10, a current ratio of 1.16 and a debt-to-equity ratio of 0.35.
The business also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Monday, March 12th were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 6.41%. The ex-dividend date of this dividend was Friday, March 9th. Gannett’s dividend payout ratio (DPR) is presently 62.14%.
In other news, insider John M. Zidich sold 28,089 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $10.21, for a total value of $286,788.69. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Barbara W. Wall sold 10,954 shares of the stock in a transaction that occurred on Friday, March 2nd. The stock was sold at an average price of $10.43, for a total value of $114,250.22. Following the completion of the sale, the senior vice president now directly owns 18,023 shares of the company’s stock, valued at $187,979.89. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,673 shares of company stock valued at $804,778. Company insiders own 0.74% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Fox Run Management L.L.C. bought a new position in shares of Gannett in the fourth quarter valued at approximately $117,000. Elkfork Partners LLC bought a new position in shares of Gannett in the fourth quarter valued at approximately $139,000. Xact Kapitalforvaltning AB bought a new position in shares of Gannett in the fourth quarter valued at approximately $155,000. Meeder Asset Management Inc. grew its holdings in shares of Gannett by 213.9% in the fourth quarter. Meeder Asset Management Inc. now owns 13,886 shares of the company’s stock valued at $161,000 after acquiring an additional 9,462 shares in the last quarter. Finally, HBK Investments L P bought a new position in shares of Gannett in the fourth quarter valued at approximately $161,000. 89.45% of the stock is owned by hedge funds and other institutional investors.
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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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