Zacks Investment Research upgraded shares of Gannett (NYSE:GCI) from a hold rating to a strong-buy rating in a research note released on Saturday, Zacks.com reports. Zacks Investment Research currently has $12.00 price target 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. “

Other equities research analysts have also recently issued research reports about the company. Noble Financial restated a market perform rating on shares of Gannett in a report on Tuesday, August 6th. ValuEngine upgraded Gannett from a hold rating to a buy rating in a report on Friday, July 19th.

Gannett stock opened at $9.80 on Friday. Gannett has a fifty-two week low of $7.41 and a fifty-two week high of $11.99. The business’s fifty day moving average is $9.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.12 billion, a P/E ratio of 10.26 and a beta of 1.30.

Gannett (NYSE:GCI) last posted its quarterly earnings data on Monday, August 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.08. Gannett had a return on equity of 10.31% and a net margin of 0.50%. The business had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $689.92 million. During the same quarter last year, the firm earned $0.31 earnings per share. The business’s revenue was down 9.6% on a year-over-year basis. Research analysts anticipate that Gannett will post 0.56 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 16th will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Friday, September 13th. Gannett’s dividend payout ratio (DPR) is 59.26%.

Several hedge funds have recently bought and sold shares of the company. Investors Research Corp acquired a new position in Gannett in the first quarter valued at $31,000. Meeder Asset Management Inc. boosted its holdings in Gannett by 85.3% in the first quarter. Meeder Asset Management Inc. now owns 6,366 shares of the company’s stock valued at $66,000 after acquiring an additional 2,930 shares during the last quarter. LPL Financial LLC acquired a new position in Gannett in the second quarter valued at $85,000. Quantamental Technologies LLC boosted its holdings in Gannett by 400.9% in the first quarter. Quantamental Technologies LLC now owns 9,092 shares of the company’s stock valued at $96,000 after acquiring an additional 7,277 shares during the last quarter. Finally, Arden Trust Co acquired a new position in Gannett in the second quarter valued at $114,000. Institutional investors and hedge funds own 96.55% 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. 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.

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