Gannett (NYSE:GCI) Given “Market Perform” Rating at Noble Financial

Noble Financial reiterated their market perform rating on shares of Gannett (NYSE:GCI) in a research report sent to investors on Tuesday morning, The Fly reports.

Several other research analysts also recently weighed in on the company. Zacks Investment Research upgraded Gannett from a sell rating to a hold rating in a research note on Wednesday, May 1st. ValuEngine upgraded Gannett from a hold rating to a buy rating in a research note on Friday, July 19th.

Shares of GCI stock traded down $0.47 during midday trading on Tuesday, hitting $9.87. The company had a trading volume of 1,698,073 shares, compared to its average volume of 2,137,787. The stock has a 50 day simple moving average of $8.95. Gannett has a 52-week low of $7.41 and a 52-week high of $11.99. The firm has a market capitalization of $1.18 billion, a PE ratio of 9.13 and a beta of 1.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.00 and a current ratio of 1.00.

Gannett (NYSE:GCI) last announced its earnings results on Monday, August 5th. The company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.08. Gannett had a return on equity of 10.31% and a net margin of 0.50%. The company had revenue of $660.30 million for the quarter, compared to the consensus estimate of $689.92 million. During the same period last year, the business posted $0.31 EPS. The company’s revenue was down 9.6% on a year-over-year basis. Analysts forecast that Gannett will post 0.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.64 annualized dividend and a dividend yield of 6.49%. Gannett’s dividend payout ratio (DPR) is currently 59.26%.

Several hedge funds have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Gannett in the 4th quarter valued at approximately $20,333,000. Landscape Capital Management L.L.C. acquired a new stake in shares of Gannett in the 2nd quarter valued at approximately $1,563,000. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Gannett by 5.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 2,521,086 shares of the company’s stock valued at $26,572,000 after buying an additional 141,058 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Gannett by 11.2% in the 2nd quarter. Prudential Financial Inc. now owns 1,257,426 shares of the company’s stock valued at $10,261,000 after buying an additional 126,930 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Gannett by 8.3% in the 4th quarter. Geode Capital Management LLC now owns 1,190,533 shares of the company’s stock valued at $10,154,000 after buying an additional 90,827 shares during the period. Institutional investors own 96.80% of the company’s stock.

About Gannett

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. It 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 150 news brands and 150 magazines in the United Kingdom.

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