Zacks: Analysts Anticipate Gannett Co Inc (NYSE:GCI) Will Announce Earnings of $0.13 Per Share
Equities research analysts forecast that Gannett Co Inc (NYSE:GCI) will announce $0.13 earnings per share for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Gannett’s earnings. The lowest EPS estimate is $0.10 and the highest is $0.16. Gannett reported earnings of $0.31 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 58.1%. The company is expected to report its next quarterly earnings report on Thursday, August 8th.
According to Zacks, analysts expect that Gannett will report full year earnings of $0.54 per share for the current financial year, with EPS estimates ranging from $0.51 to $0.57. For the next year, analysts expect that the firm will report earnings of $0.58 per share, with EPS estimates ranging from $0.57 to $0.58. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Gannett.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.08. The business had revenue of $663.40 million for the quarter, compared to the consensus estimate of $677.85 million. Gannett had a return on equity of 11.24% and a net margin of 0.12%. The business’s quarterly revenue was down 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.13 earnings per share.
Shares of GCI stock traded down $0.02 during trading hours on Wednesday, reaching $8.33. 1,075,666 shares of the company’s stock were exchanged, compared to its average volume of 1,429,925. The company has a market cap of $944.79 million, a PE ratio of 7.71 and a beta of 1.30. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.55. Gannett has a fifty-two week low of $7.41 and a fifty-two week high of $11.99.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 24th. Shareholders of record on Monday, June 10th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, June 7th. This represents a $0.64 dividend on an annualized basis and a yield of 7.68%. Gannett’s dividend payout ratio is presently 59.26%.
Several institutional investors have recently modified their holdings of the company. Lombard Odier Asset Management USA Corp acquired a new position in shares of Gannett during the first quarter worth about $422,000. BlueCrest Capital Management Ltd acquired a new position in shares of Gannett during the first quarter worth about $2,176,000. Morgan Stanley increased its stake in shares of Gannett by 75.3% during the first quarter. Morgan Stanley now owns 587,589 shares of the company’s stock worth $6,192,000 after acquiring an additional 252,392 shares during the period. Jefferies Group LLC acquired a new position in shares of Gannett during the first quarter worth about $2,635,000. Finally, Hsbc Holdings PLC increased its stake in shares of Gannett by 9.6% during the first quarter. Hsbc Holdings PLC now owns 57,055 shares of the company’s stock worth $601,000 after acquiring an additional 4,996 shares during the period. Institutional investors and hedge funds own 97.18% of the company’s stock.
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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