Gannett (GCI) Posts Quarterly Earnings Results

Gannett (NYSE:GCI) announced its earnings results on Thursday. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03, MarketWatch Earnings reports. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The company had revenue of $711.70 million during the quarter, compared to analysts’ expectations of $723.60 million. During the same period last year, the company posted $0.17 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Gannett updated its FY 2018 guidance to EPS.

GCI stock opened at $10.06 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.16 billion, a P/E ratio of 9.77 and a beta of 0.83. Gannett has a 52 week low of $9.04 and a 52 week high of $12.38.

The business also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Investors of record on Monday, December 10th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.36%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s dividend payout ratio is currently 62.14%.

GCI has been the subject of several recent analyst reports. Noble Financial set a $15.00 target price on shares of Gannett and gave the stock a “buy” rating in a report on Tuesday, August 28th. ValuEngine cut shares of Gannett from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research cut shares of Gannett from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. Gannett currently has an average rating of “Hold” and a consensus target price of $12.50.

In related news, insider Andrew T. Yost sold 5,175 shares of the firm’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the sale, the insider now directly owns 7,034 shares in the company, valued at $73,083.26. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Andrew T. Yost sold 3,500 shares of the firm’s stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $10.31, for a total transaction of $36,085.00. Following the sale, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at $36,435.54. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,012 shares of company stock valued at $93,318. 0.74% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Sun Life Financial INC bought a new position in Gannett during the second quarter valued at approximately $215,000. Sei Investments Co. raised its position in shares of Gannett by 16.3% in the second quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock valued at $409,000 after purchasing an additional 5,343 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Gannett by 9.9% in the second quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock valued at $98,696,000 after purchasing an additional 829,856 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of Gannett in the second quarter valued at approximately $363,000. Finally, Nisa Investment Advisors LLC raised its position in shares of Gannett by 28.9% in the third quarter. Nisa Investment Advisors LLC now owns 140,650 shares of the company’s stock valued at $1,408,000 after purchasing an additional 31,500 shares during the period. 96.34% of the stock is currently owned by hedge funds and other institutional investors.

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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 for Gannett (NYSE:GCI)

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