Brokerages Anticipate Gannett Co Inc (GCI) Will Announce Earnings of $0.15 Per Share

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Wall Street brokerages expect Gannett Co Inc (NYSE:GCI) to report earnings per share of $0.15 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for Gannett’s earnings, with estimates ranging from $0.11 to $0.17. Gannett reported earnings per share of $0.16 in the same quarter last year, which would indicate a negative year over year growth rate of 6.3%. The business is expected to issue its next quarterly earnings report on Thursday, November 1st.

According to Zacks, analysts expect that Gannett will report full-year earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.00 to $1.15. For the next financial year, analysts anticipate that the company will report earnings of $0.97 per share, with EPS estimates ranging from $0.74 to $1.15. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Gannett.

Gannett (NYSE:GCI) last announced its quarterly earnings results on Thursday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.10. The business had revenue of $730.77 million during the quarter, compared to the consensus estimate of $739.17 million. Gannett had a return on equity of 13.14% and a net margin of 0.83%. Gannett’s revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.18 earnings per share.

A number of research analysts have issued reports on GCI shares. ValuEngine downgraded Gannett from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 2nd. TheStreet upgraded Gannett from a “c” rating to a “b-” rating in a research note on Friday, June 22nd. JPMorgan Chase & Co. downgraded Gannett from a “neutral” rating to an “underweight” rating and set a $10.00 price objective for the company. in a research note on Friday, July 6th. Finally, Noble Financial set a $15.00 price objective on Gannett and gave the company a “buy” rating in a research note on Friday, July 13th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Gannett has an average rating of “Hold” and a consensus price target of $12.50.

NYSE:GCI traded down $0.03 during trading on Thursday, reaching $9.78. The company’s stock had a trading volume of 482,116 shares, compared to its average volume of 973,568. The company has a market capitalization of $1.11 billion, a PE ratio of 8.54 and a beta of 0.91. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.22 and a quick ratio of 1.22. Gannett has a 12 month low of $7.94 and a 12 month high of $12.38.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 24th. Shareholders of record on Monday, September 10th will be paid a $0.16 dividend. The ex-dividend date is Friday, September 7th. This represents a $0.64 dividend on an annualized basis and a yield of 6.54%. Gannett’s dividend payout ratio (DPR) is presently 62.14%.

In other news, insider Andrew T. Yost sold 5,175 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $10.39, for a total transaction of $53,768.25. Following the completion of the transaction, the insider now owns 7,034 shares in the company, valued at approximately $73,083.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CMO Andrew T. Yost sold 3,500 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $10.31, for a total value of $36,085.00. Following the transaction, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The disclosure for this sale can be found here. Insiders sold a total of 9,012 shares of company stock valued at $93,318 in the last 90 days. Corporate insiders own 0.74% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Gannett by 6.7% during the 2nd quarter. BlackRock Inc. now owns 15,612,646 shares of the company’s stock worth $167,055,000 after acquiring an additional 982,808 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Gannett by 9.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 9,223,937 shares of the company’s stock worth $98,696,000 after purchasing an additional 829,856 shares in the last quarter. LSV Asset Management lifted its holdings in Gannett by 12.4% during the 2nd quarter. LSV Asset Management now owns 5,062,586 shares of the company’s stock worth $54,169,000 after purchasing an additional 557,050 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in Gannett by 20.5% during the 1st quarter. JPMorgan Chase & Co. now owns 4,047,892 shares of the company’s stock worth $40,398,000 after purchasing an additional 687,854 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Gannett by 1.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,159,645 shares of the company’s stock worth $33,809,000 after purchasing an additional 53,587 shares in the last quarter. Institutional investors own 98.29% 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. 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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