Gannett Co., Inc. to Post Q4 2018 Earnings of $0.45 Per Share, Jefferies Group Forecasts (GCI)
Gannett Co., Inc. (NYSE:GCI) – Research analysts at Jefferies Group lowered their Q4 2018 earnings estimates for shares of Gannett Co. in a report released on Thursday. Jefferies Group analyst J. Janedis now forecasts that the company will post earnings per share of $0.45 for the quarter, down from their prior estimate of $0.46. Jefferies Group also issued estimates for Gannett Co.’s Q2 2019 earnings at $0.23 EPS and Q3 2019 earnings at $0.17 EPS.
Gannett Co. (NYSE:GCI) last released its quarterly earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.05. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The business had revenue of $744.30 million during the quarter, compared to analyst estimates of $762.97 million. During the same quarter in the previous year, the company posted ($0.21) earnings per share. Gannett Co.’s revenue for the quarter was down 3.6% on a year-over-year basis.
Several other analysts have also recently weighed in on the company. Zacks Investment Research cut Gannett Co. from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub raised Gannett Co. from a “hold” rating to a “buy” rating in a report on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold”.
Shares of Gannett Co. (NYSE:GCI) traded down $0.30 during trading on Monday, hitting $9.47. The stock had a trading volume of 544,031 shares, compared to its average volume of 804,038. Gannett Co. has a fifty-two week low of $7.36 and a fifty-two week high of $10.30. The stock has a market capitalization of $1,091.98, a P/E ratio of 9.97 and a beta of 0.59. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.43.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 26th. Shareholders of record on Tuesday, December 12th will be issued a $0.16 dividend. The ex-dividend date is Monday, December 11th. This represents a $0.64 annualized dividend and a dividend yield of 6.76%. Gannett Co.’s payout ratio is currently 164.11%.
Several institutional investors have recently made changes to their positions in the company. Bank of Montreal Can increased its position in shares of Gannett Co. by 0.7% during the 2nd quarter. Bank of Montreal Can now owns 12,571 shares of the company’s stock valued at $110,000 after purchasing an additional 89 shares during the last quarter. National Asset Management Inc. increased its position in shares of Gannett Co. by 1.9% during the 2nd quarter. National Asset Management Inc. now owns 19,029 shares of the company’s stock valued at $167,000 after purchasing an additional 356 shares during the last quarter. Texas Permanent School Fund increased its position in shares of Gannett Co. by 0.8% during the 2nd quarter. Texas Permanent School Fund now owns 82,928 shares of the company’s stock valued at $723,000 after purchasing an additional 692 shares during the last quarter. Thrivent Financial For Lutherans increased its position in shares of Gannett Co. by 1.5% during the 1st quarter. Thrivent Financial For Lutherans now owns 64,330 shares of the company’s stock valued at $539,000 after purchasing an additional 970 shares during the last quarter. Finally, White Pine Investment CO increased its position in shares of Gannett Co. by 1.2% during the 2nd quarter. White Pine Investment CO now owns 124,354 shares of the company’s stock valued at $1,084,000 after purchasing an additional 1,430 shares during the last quarter. Hedge funds and other institutional investors own 82.64% of the company’s stock.
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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