Zacks Investment Research Downgrades Gannett (GCI) to Sell

Zacks Investment Research downgraded shares of Gannett (NYSE:GCI) from a hold rating to a sell rating in a research note published on Monday.

According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “

Separately, ValuEngine raised shares of Gannett from a hold rating to a buy rating in a research note on Tuesday, January 15th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $11.67.

Gannett stock opened at $10.44 on Monday. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.08 and a beta of 1.33. Gannett has a twelve month low of $8.37 and a twelve month high of $11.99.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Wednesday, February 20th. The company reported $0.44 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.07). The business had revenue of $751.40 million during the quarter, compared to the consensus estimate of $768.47 million. Gannett had a return on equity of 11.52% and a net margin of 0.52%. The business’s revenue for the quarter was down 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 earnings per share. On average, equities analysts anticipate that Gannett will post 0.57 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 6.13%. The ex-dividend date is Friday, March 8th. Gannett’s dividend payout ratio is presently 59.26%.

A number of institutional investors have recently bought and sold shares of GCI. Norges Bank bought a new stake in Gannett in the fourth quarter worth $20,333,000. Vanguard Group Inc increased its position in shares of Gannett by 7.2% during the third quarter. Vanguard Group Inc now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after buying an additional 862,310 shares during the period. Vanguard Group Inc. increased its position in shares of Gannett by 7.2% during the third quarter. Vanguard Group Inc. now owns 12,836,904 shares of the company’s stock valued at $128,497,000 after buying an additional 862,310 shares during the period. Matarin Capital Management LLC purchased a new position in shares of Gannett during the third quarter valued at about $8,132,000. Finally, BlackRock Inc. increased its position in shares of Gannett by 3.7% during the third quarter. BlackRock Inc. now owns 16,183,546 shares of the company’s stock valued at $161,997,000 after buying an additional 570,900 shares during the period. 97.93% of the stock is owned by institutional investors and hedge funds.

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.

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