Gannett (NYSE:GCI) Upgraded to “Strong-Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of Gannett (NYSE:GCI) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports. They currently have $12.00 target price 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 brokerages also recently issued reports on GCI. ValuEngine upgraded Gannett from a hold rating to a buy rating in a research report on Tuesday. Noble Financial reiterated a market perform rating on shares of Gannett in a research report on Tuesday, August 6th.

GCI traded down $0.03 during trading on Wednesday, hitting $10.30. The company’s stock had a trading volume of 1,902,885 shares, compared to its average volume of 1,609,720. The firm’s 50 day moving average price is $10.77 and its two-hundred day moving average price is $9.58. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.41. Gannett has a 12 month low of $7.41 and a 12 month high of $11.99. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.54 and a beta of 1.28.

Gannett (NYSE:GCI) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.09. Gannett had a return on equity of 9.69% and a net margin of 0.41%. The firm had revenue of $635.60 million during the quarter, compared to the consensus estimate of $670.56 million. During the same quarter in the previous year, the company posted $0.20 EPS. The business’s revenue for the quarter was down 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that Gannett will post 0.62 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 12th. Stockholders of record on Friday, November 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.21%. Gannett’s payout ratio is currently 59.26%.

Hedge funds have recently added to or reduced their stakes in the company. Meeder Asset Management Inc. raised its position in shares of Gannett by 226.3% during the third quarter. Meeder Asset Management Inc. now owns 9,512 shares of the company’s stock worth $103,000 after acquiring an additional 6,597 shares during the last quarter. Trilogy Capital Inc. bought a new stake in shares of Gannett during the third quarter worth $111,000. LPL Financial LLC bought a new stake in shares of Gannett during the second quarter worth $85,000. Arden Trust Co bought a new stake in shares of Gannett during the second quarter worth $114,000. Finally, Cubist Systematic Strategies LLC raised its position in shares of Gannett by 873.5% during the second quarter. Cubist Systematic Strategies LLC now owns 17,931 shares of the company’s stock worth $146,000 after acquiring an additional 16,089 shares during the last quarter. Institutional investors own 93.64% of the company’s stock.

Gannett Company Profile

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.

Featured Story: Stock Portfolio Tracker

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

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit