Gannett Co., Inc. (GCI) Releases Earnings Results
Gannett Co., Inc. (NYSE:GCI) issued its earnings results on Thursday. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05, Bloomberg Earnings reports. Gannett Co. had a return on equity of 13.30% and a net margin of 1.43%. The business had revenue of $744.30 million during the quarter, compared to the consensus estimate of $762.97 million. During the same period last year, the company earned ($0.21) EPS. The company’s revenue for the quarter was down 3.6% on a year-over-year basis.
Gannett Co. (NYSE:GCI) traded up $0.97 during midday trading on Friday, hitting $9.77. The stock had a trading volume of 1,960,000 shares, compared to its average volume of 770,488. The stock has a market cap of $1,091.98, a PE ratio of 9.97 and a beta of 0.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.45. Gannett Co. has a fifty-two week low of $7.36 and a fifty-two week high of $10.30.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Stockholders of record on Tuesday, December 12th will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.55%. The ex-dividend date is Monday, December 11th. Gannett Co.’s dividend payout ratio is presently 164.11%.
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A number of brokerages have issued reports on GCI. Zacks Investment Research downgraded Gannett Co. from a “hold” rating to a “strong sell” rating in a research note on Monday, October 9th. BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Gannett Co. currently has an average rating of “Hold”.
About Gannett Co.
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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