Zacks Investment Research Upgrades Gannett Co., Inc. (GCI) to “Hold”
Gannett Co., Inc. (NYSE:GCI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.
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 analysts have also issued research reports about the company. BidaskClub lowered Gannett Co. from a “buy” rating to a “hold” rating in a research note on Monday, August 7th. ValuEngine raised Gannett Co. from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Buy”.
Gannett Co. (GCI) traded up $0.22 during trading on Tuesday, reaching $9.69. The company’s stock had a trading volume of 1,216,412 shares, compared to its average volume of 942,446. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $1,080.00 and a price-to-earnings ratio of 9.97. Gannett Co. has a one year low of $7.36 and a one year high of $10.30.
Gannett Co. (NYSE:GCI) last posted its quarterly earnings data on Thursday, November 2nd. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.05. The company had revenue of $744.30 million for the quarter, compared to analyst estimates of $762.97 million. Gannett Co. had a return on equity of 13.25% and a net margin of 1.43%. The business’s revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.21) earnings per share. equities analysts forecast that Gannett Co. will post 0.83 EPS for the current year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Los Angeles Capital Management & Equity Research Inc. increased its holdings in Gannett Co. by 1.6% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 433,832 shares of the company’s stock valued at $3,904,000 after purchasing an additional 6,650 shares during the last quarter. Municipal Employees Retirement System of Michigan increased its holdings in Gannett Co. by 60.0% in the third quarter. Municipal Employees Retirement System of Michigan now owns 42,620 shares of the company’s stock valued at $384,000 after purchasing an additional 15,980 shares during the last quarter. Sei Investments Co. increased its holdings in Gannett Co. by 40.7% in the third quarter. Sei Investments Co. now owns 27,516 shares of the company’s stock valued at $248,000 after purchasing an additional 7,955 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in Gannett Co. by 38.3% in the third quarter. BNP Paribas Arbitrage SA now owns 79,720 shares of the company’s stock valued at $717,000 after purchasing an additional 22,065 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Gannett Co. by 2.4% in the third quarter. Prudential Financial Inc. now owns 897,666 shares of the company’s stock valued at $8,079,000 after purchasing an additional 21,150 shares during the last quarter. Institutional investors and hedge funds 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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