Gannett (GCI) Announces Quarterly Earnings Results

Gannett (NYSE:GCI) announced its earnings results on Thursday. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.03, MarketWatch Earnings reports. Gannett had a net margin of 0.83% and a return on equity of 13.14%. The business had revenue of $711.70 million during the quarter, compared to analyst estimates of $723.60 million. During the same period in the previous year, the business posted $0.17 earnings per share. Gannett’s revenue for the quarter was down 4.4% on a year-over-year basis. Gannett updated its FY 2018 guidance to EPS.

Gannett stock traded up $0.39 during mid-day trading on Friday, hitting $10.45. 1,118,146 shares of the company traded hands, compared to its average volume of 1,140,844. Gannett has a one year low of $9.04 and a one year high of $12.38. The firm has a market cap of $1.17 billion, a PE ratio of 10.15 and a beta of 0.83. 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 business also recently announced a quarterly dividend, which will be paid on Monday, December 24th. Shareholders of record on Monday, December 10th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.64 annualized dividend and a yield of 6.12%. Gannett’s payout ratio is presently 62.14%.

In other news, CMO Andrew T. Yost sold 3,500 shares of the business’s stock in a transaction that occurred on Friday, August 17th. The shares were sold at an average price of $10.31, for a total value of $36,085.00. Following the completion of the sale, the chief marketing officer now directly owns 3,534 shares in the company, valued at approximately $36,435.54. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew T. Yost sold 5,175 shares of the business’s stock in a transaction that occurred on Tuesday, August 14th. The stock was 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,012 shares of company stock valued at $93,318. 0.74% of the stock is currently owned by company insiders.

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

Several equities research analysts have issued reports on the stock. Noble Financial set a $15.00 target price on shares of Gannett and gave the company a “buy” rating in a research report on Friday, July 13th. TheStreet lowered shares of Gannett from a “b-” rating to a “c” rating in a research report on Thursday. ValuEngine upgraded shares of Gannett from a “sell” rating to a “hold” rating in a research report on Wednesday, August 15th. Finally, Zacks Investment Research lowered shares of Gannett from a “hold” rating to a “sell” rating in a research report on Tuesday, October 16th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $12.50.

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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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Earnings History for Gannett (NYSE:GCI)

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