Gannett (GCI) Rating Lowered to C at TheStreet

Gannett (NYSE:GCI) was downgraded by equities researchers at TheStreet from a “b-” rating to a “c” rating in a research note issued to investors on Thursday.

GCI has been the subject of several other research reports. Zacks Investment Research lowered shares of Gannett from a “hold” rating to a “sell” rating in a report on Tuesday, October 23rd. Noble Financial set a $15.00 price target on shares of Gannett and gave the stock a “buy” rating in a report on Tuesday, August 28th. Finally, ValuEngine lowered shares of Gannett from a “hold” rating to a “sell” rating in a report on Thursday, August 2nd. One 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. Gannett presently has an average rating of “Hold” and a consensus target price of $12.50.

Shares of NYSE:GCI traded up $0.39 during trading on Thursday, hitting $10.45. 1,118,146 shares of the stock traded hands, compared to its average volume of 1,140,844. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 1.22. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 10.15 and a beta of 0.83. Gannett has a 52-week low of $9.04 and a 52-week high of $12.38.

Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.17 by $0.03. The company had revenue of $711.70 million during the quarter, compared to analyst estimates of $723.60 million. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The firm’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.17 EPS. On average, sell-side analysts anticipate that Gannett will post 1.13 earnings per share for the current fiscal year.

In other news, insider Andrew T. Yost sold 5,175 shares of the company’s stock in a transaction 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 owns 7,034 shares of the company’s stock, valued at $73,083.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Andrew T. Yost sold 3,500 shares of the company’s stock in a transaction 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 directly owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. In the last three months, insiders sold 9,012 shares of company stock valued at $93,318. 0.74% of the stock is owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Xact Kapitalforvaltning AB grew its holdings in shares of Gannett by 32.9% during the first quarter. Xact Kapitalforvaltning AB now owns 17,776 shares of the company’s stock worth $177,000 after buying an additional 4,400 shares in the last quarter. Sei Investments Co. grew its holdings in shares of Gannett by 16.3% during the second quarter. Sei Investments Co. now owns 38,186 shares of the company’s stock worth $409,000 after buying an additional 5,343 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Gannett by 5.7% during the third quarter. State Board of Administration of Florida Retirement System now owns 104,539 shares of the company’s stock worth $1,046,000 after buying an additional 5,659 shares in the last quarter. AXA grew its holdings in shares of Gannett by 1.2% during the third quarter. AXA now owns 537,100 shares of the company’s stock worth $5,376,000 after buying an additional 6,600 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Gannett by 64.4% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 17,337 shares of the company’s stock worth $186,000 after buying an additional 6,790 shares in the last quarter. 96.34% of the stock is owned by institutional investors and hedge funds.

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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