Zacks Investment Research upgraded shares of Gannett (NYSE:GCI) from a hold rating to a strong-buy rating in a report published on Saturday, Zacks.com reports. They currently have $12.00 price target on the stock.
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. “
Several other research analysts have also recently commented on GCI. Noble Financial reiterated a market perform rating on shares of Gannett in a report on Tuesday, August 6th. ValuEngine upgraded shares of Gannett from a hold rating to a buy rating in a report on Friday, July 19th.
Gannett (NYSE:GCI) last posted its quarterly earnings results on Monday, August 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Gannett had a net margin of 0.50% and a return on equity of 10.31%. The company had revenue of $660.30 million during the quarter, compared to analysts’ expectations of $689.92 million. During the same quarter in the previous year, the business posted $0.31 EPS. The firm’s revenue was down 9.6% on a year-over-year basis. Sell-side analysts predict that Gannett will post 0.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.50%. The ex-dividend date of this dividend is Friday, September 13th. Gannett’s dividend payout ratio (DPR) is presently 59.26%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Mason Street Advisors LLC boosted its holdings in shares of Gannett by 4.7% in the 1st quarter. Mason Street Advisors LLC now owns 36,761 shares of the company’s stock valued at $387,000 after buying an additional 1,635 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in Gannett by 3.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 34,360 shares of the company’s stock valued at $280,000 after purchasing an additional 1,259 shares during the last quarter. Meeder Asset Management Inc. raised its position in Gannett by 85.3% in the 1st quarter. Meeder Asset Management Inc. now owns 6,366 shares of the company’s stock valued at $66,000 after purchasing an additional 2,930 shares during the last quarter. North Star Investment Management Corp. raised its position in Gannett by 27.2% in the 2nd quarter. North Star Investment Management Corp. now owns 325,987 shares of the company’s stock valued at $2,660,000 after purchasing an additional 69,779 shares during the last quarter. Finally, Investors Research Corp purchased a new stake in Gannett in the 1st quarter valued at $31,000. Institutional investors own 96.55% of the company’s stock.
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.
See Also: Buy Rating
For more information about research offerings from Zacks Investment Research, visit Zacks.com
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.