Gannett Co., Inc. (NYSE:GCI) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors 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. “
Other research analysts also recently issued reports about the company. BidaskClub downgraded Gannett Co. from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. TheStreet raised Gannett Co. from a “d” rating to a “c-” rating in a research report on Friday, June 23rd. Finally, ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $16.00.
Gannett Co. (NYSE GCI) opened at 9.48 on Monday. The stock’s market cap is $1.08 billion. The firm has a 50-day moving average price of $8.76 and a 200-day moving average price of $8.76. Gannett Co. has a 12-month low of $7.30 and a 12-month high of $11.23.
Gannett Co. (NYSE:GCI) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.18 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.19 by ($0.01). Gannett Co. had a negative net margin of 0.07% and a positive return on equity of 11.30%. The company had revenue of $774.50 million during the quarter, compared to the consensus estimate of $783.06 million. During the same period in the previous year, the business posted $0.30 earnings per share. The firm’s revenue was up 3.4% on a year-over-year basis. Analysts forecast that Gannett Co. will post $0.98 EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently modified their holdings of GCI. Russell Investments Group Ltd. increased its position in Gannett Co. by 300.5% in the 1st quarter. Russell Investments Group Ltd. now owns 61,193 shares of the company’s stock worth $513,000 after buying an additional 45,913 shares during the period. Great West Life Assurance Co. Can increased its position in Gannett Co. by 2.8% in the 1st quarter. Great West Life Assurance Co. Can now owns 155,621 shares of the company’s stock worth $1,303,000 after buying an additional 4,268 shares during the period. First Trust Advisors LP increased its position in Gannett Co. by 45.1% in the 1st quarter. First Trust Advisors LP now owns 264,920 shares of the company’s stock worth $2,220,000 after buying an additional 82,367 shares during the period. Bank of New York Mellon Corp increased its position in Gannett Co. by 8.0% in the 1st quarter. Bank of New York Mellon Corp now owns 2,984,343 shares of the company’s stock worth $25,009,000 after buying an additional 221,429 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in Gannett Co. by 3.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 39,242 shares of the company’s stock worth $329,000 after buying an additional 1,233 shares during the period. 81.61% of the stock is currently owned by institutional investors.
Gannett Co. Company Profile
Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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