Gannett (NYSE:GCI) has been given a $17.00 target price by analysts at Noble Financial in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Noble Financial’s price objective would suggest a potential upside of 67.16% from the company’s previous close.

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Gannett from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. JPMorgan Chase & Co. downgraded shares of Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 price target on the stock. in a research note on Friday, July 6th. Zacks Investment Research downgraded shares of Gannett from a “hold” rating to a “sell” rating in a research note on Wednesday, May 2nd. Finally, TheStreet raised shares of Gannett from a “c” rating to a “b-” rating in a research note on Friday, June 22nd. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company. Gannett presently has an average rating of “Hold” and a consensus target price of $13.50.

Shares of Gannett traded down $0.27, hitting $10.17, during midday trading on Friday, Marketbeat Ratings reports. The company’s stock had a trading volume of 1,207,227 shares, compared to its average volume of 916,737. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.18 billion, a P/E ratio of 9.08 and a beta of 0.95. Gannett has a 12-month low of $7.94 and a 12-month high of $12.38.

Gannett (NYSE:GCI) last posted its quarterly earnings results on Thursday, August 9th. The company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.10. The firm had revenue of $730.77 million for the quarter, compared to the consensus estimate of $739.17 million. Gannett had a net margin of 0.83% and a return on equity of 13.71%. The company’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm posted $0.18 earnings per share. analysts expect that Gannett will post 1.04 earnings per share for the current year.

Gannett announced that its board has initiated a stock buyback program on Tuesday, May 8th that permits the company to buyback $100.00 million in shares. This buyback authorization permits the company to purchase up to 8.1% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Institutional investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. acquired a new stake in Gannett during the first quarter worth about $105,000. Suntrust Banks Inc. acquired a new stake in shares of Gannett during the first quarter valued at about $117,000. Xact Kapitalforvaltning AB acquired a new stake in shares of Gannett during the fourth quarter valued at about $155,000. Trexquant Investment LP acquired a new stake in shares of Gannett during the second quarter valued at about $166,000. Finally, Sun Life Financial INC acquired a new stake in shares of Gannett during the second quarter valued at about $215,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About Gannett

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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