Wall Street analysts forecast that Gannett Co Inc (NYSE:GCI) will announce earnings of $0.10 per share for the current quarter, according to Zacks. Two analysts have made estimates for Gannett’s earnings. Gannett posted earnings of $0.31 per share during the same quarter last year, which suggests a negative year-over-year growth rate of 67.7%. The firm is expected to announce its next earnings report before the market opens on Tuesday, August 6th.
On average, analysts expect that Gannett will report full-year earnings of $0.54 per share for the current fiscal year, with EPS estimates ranging from $0.51 to $0.57. For the next financial year, analysts expect that the company will report earnings of $0.58 per share, with EPS estimates ranging from $0.57 to $0.58. Zacks’ EPS calculations are a mean average based on a survey of sell-side research analysts 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 for the quarter, beating the consensus estimate of $0.02 by $0.08. Gannett had a net margin of 0.12% and a return on equity of 11.24%. The business had revenue of $663.40 million for the quarter, compared to the consensus estimate of $677.85 million. During the same quarter in the previous year, the firm earned $0.13 earnings per share. The company’s revenue for the quarter was down 8.2% on a year-over-year basis.
GCI has been the topic of several analyst reports. Zacks Investment Research downgraded shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. ValuEngine downgraded shares of Vereit from a “buy” rating to a “hold” rating in a report on Friday, July 19th.
NYSE:GCI traded up $0.06 during trading hours on Friday, hitting $9.68. 57,788 shares of the stock traded hands, compared to its average volume of 1,043,356. 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 1 year low of $7.41 and a 1 year high of $11.99. The stock has a market capitalization of $1.11 billion, a P/E ratio of 8.97 and a beta of 1.29. The firm has a 50 day moving average of $8.42.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Shareholders 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 yield of 6.61%. The ex-dividend date is Friday, September 13th. Gannett’s dividend payout ratio is currently 59.26%.
A number of large investors have recently modified their holdings of GCI. Norges Bank purchased a new position in Gannett during the fourth quarter valued at approximately $20,333,000. BlackRock Inc. raised its position in shares of Gannett by 2.6% during the fourth quarter. BlackRock Inc. now owns 16,606,475 shares of the company’s stock valued at $141,653,000 after buying an additional 422,929 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of Gannett by 5.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 2,521,086 shares of the company’s stock valued at $26,572,000 after buying an additional 141,058 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Gannett by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 1,190,533 shares of the company’s stock valued at $10,154,000 after buying an additional 90,827 shares during the last quarter. Finally, North Star Investment Management Corp. raised its position in shares of Gannett by 27.2% during the second quarter. North Star Investment Management Corp. now owns 325,987 shares of the company’s stock valued at $2,660,000 after buying an additional 69,779 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.
Gannett Company Profile
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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