Gannett (GCI) Stock Rating Lowered by Zacks Investment Research

Zacks Investment Research downgraded shares of Gannett (NYSE:GCI) from a hold rating to a sell rating in a research report released on Wednesday morning.

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. “

GCI has been the topic of a number of other reports. ValuEngine raised Gannett from a sell rating to a hold rating in a report on Monday, November 26th. TheStreet lowered Gannett from a b- rating to a c rating in a report on Thursday, November 8th. Two investment analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Gannett has a consensus rating of Hold and an average target price of $11.67.

Shares of Gannett stock opened at $11.80 on Wednesday. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.30. The company has a market cap of $1.22 billion, a PE ratio of 10.93 and a beta of 1.32. Gannett has a 12-month low of $8.37 and a 12-month high of $11.99.

Gannett (NYSE:GCI) last posted its earnings results on Wednesday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.07). The business had revenue of $751.40 million for the quarter, compared to analyst estimates of $768.47 million. Gannett had a return on equity of 11.36% and a net margin of 0.52%. The firm’s revenue was down 12.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.55 earnings per share. As a group, equities analysts expect that Gannett will post 0.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Shareholders of record on Monday, March 11th will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 5.42%. The ex-dividend date is Friday, March 8th. Gannett’s dividend payout ratio is 59.26%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its holdings in Gannett by 5.3% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 18,257 shares of the company’s stock valued at $156,000 after buying an additional 911 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Gannett by 2.2% in the 4th quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock valued at $690,000 after buying an additional 1,778 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Gannett by 33.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,091 shares of the company’s stock valued at $69,000 after buying an additional 2,034 shares in the last quarter. Hsbc Holdings PLC grew its holdings in Gannett by 5.1% in the 4th quarter. Hsbc Holdings PLC now owns 52,059 shares of the company’s stock valued at $444,000 after buying an additional 2,518 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in Gannett by 529.9% in the 4th quarter. Bessemer Group Inc. now owns 3,200 shares of the company’s stock valued at $27,000 after buying an additional 2,692 shares in the last quarter. 97.40% of the stock is currently owned by hedge funds and other institutional investors.

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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