Gannett Co Inc (GCI) Expected to Post Earnings of $0.53 Per Share

Equities analysts predict that Gannett Co Inc (NYSE:GCI) will announce $0.53 earnings per share for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Gannett’s earnings, with the highest EPS estimate coming in at $0.54 and the lowest estimate coming in at $0.52. Gannett reported earnings of $0.55 per share in the same quarter last year, which indicates a negative year over year growth rate of 3.6%. The firm is expected to report its next earnings results on Tuesday, February 19th.

According to Zacks, analysts expect that Gannett will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $1.12 to $1.15. For the next year, analysts anticipate that the business will report earnings of $0.99 per share, with EPS estimates ranging from $0.91 to $1.03. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Gannett.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, November 8th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.03. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The firm had revenue of $711.70 million for the quarter, compared to the consensus estimate of $723.60 million. During the same quarter last year, the firm posted $0.17 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year.

Several equities analysts have recently weighed in on the stock. Noble Financial set a $15.00 price objective on shares of Gannett and gave the stock a “buy” rating in a research note on Tuesday, August 28th. TheStreet cut shares of Gannett from a “b-” rating to a “c” rating in a research note on Thursday. ValuEngine cut shares of Gannett from a “hold” rating to a “sell” rating in a research note on Thursday, August 2nd. Finally, Zacks Investment Research upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research note on Tuesday, October 30th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. Gannett currently has an average rating of “Hold” and an average target price of $12.50.

In other news, insider Andrew T. Yost sold 5,175 shares of the stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total value of $53,768.25. Following the transaction, the insider now owns 7,034 shares in the company, valued at approximately $73,083.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Andrew T. Yost sold 3,500 shares of the 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 completion of the transaction, the chief marketing officer now owns 3,534 shares in the company, valued at approximately $36,435.54. The disclosure for this sale can be found here. Insiders sold a total of 9,012 shares of company stock worth $93,318 in the last quarter. Company insiders own 0.74% of the company’s stock.

Large investors have recently modified their holdings of the company. Suntrust Banks Inc. bought a new stake in Gannett during the 1st quarter worth approximately $117,000. NJ State Employees Deferred Compensation Plan bought a new stake in Gannett during the 3rd quarter worth approximately $120,000. Itau Unibanco Holding S.A. bought a new stake in Gannett during the 2nd quarter worth approximately $136,000. CSat Investment Advisory L.P. bought a new stake in Gannett during the 2nd quarter worth approximately $160,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. bought a new stake in Gannett during the 3rd quarter worth approximately $150,000. Hedge funds and other institutional investors own 96.34% of the company’s stock.

Shares of NYSE:GCI opened at $10.45 on Friday. Gannett has a twelve month low of $9.04 and a twelve month high of $12.38. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $1.17 billion, a PE ratio of 10.15 and a beta of 0.83.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 10th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 6.12%. The ex-dividend date of this dividend is Friday, December 7th. Gannett’s dividend payout ratio (DPR) is presently 62.14%.

About Gannett

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.

See Also: How Do Tariffs Affect Trade Balances?

Get a free copy of the Zacks research report on Gannett (GCI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Gannett (NYSE:GCI)

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.

Leave a Reply