Analysts predict that Gannett Co Inc (NYSE:GCI) will report sales of $669.61 million for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Gannett’s earnings, with the lowest sales estimate coming in at $664.11 million and the highest estimate coming in at $675.10 million. Gannett reported sales of $722.95 million in the same quarter last year, which indicates a negative year over year growth rate of 7.4%. The company is expected to announce its next quarterly earnings report on Monday, May 6th.
On average, analysts expect that Gannett will report full-year sales of $2.76 billion for the current year, with estimates ranging from $2.75 billion to $2.77 billion. For the next financial year, analysts expect that the firm will report sales of $2.61 billion. Zacks’ sales calculations are an average based on a survey of analysts that cover Gannett.
Gannett (NYSE:GCI) last posted its earnings results on Wednesday, February 20th. The company reported $0.44 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.07). Gannett had a net margin of 0.52% and a return on equity of 11.52%. The firm had revenue of $751.40 million for the quarter, compared to analysts’ expectations of $768.47 million. During the same period in the previous year, the company earned $0.55 EPS. The company’s revenue was down 12.0% on a year-over-year basis.
A number of equities research analysts recently commented on GCI shares. Zacks Investment Research raised shares of Gannett from a “hold” rating to a “strong-buy” rating and set a $10.00 target price for the company in a research report on Friday, January 4th. ValuEngine raised shares of Gannett from a “hold” rating to a “buy” rating in a research report on Tuesday, January 15th. Two investment analysts have rated the stock with a sell rating and two have given a buy rating to the stock. Gannett currently has a consensus rating of “Hold” and a consensus price target of $11.67.
NYSE:GCI traded up $0.07 during midday trading on Friday, reaching $10.97. 1,412,972 shares of the stock traded hands, compared to its average volume of 1,584,428. Gannett has a 12-month low of $8.37 and a 12-month high of $11.99. The company has a quick ratio of 0.97, a current ratio of 1.05 and a debt-to-equity ratio of 0.29. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of 10.16 and a beta of 1.33.
The company also recently announced a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 11th will be given a dividend of $0.16 per share. The ex-dividend date is Friday, March 8th. This represents a $0.64 dividend on an annualized basis and a yield of 5.83%. Gannett’s payout ratio is 59.26%.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its holdings in shares of Gannett by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 1,190,533 shares of the company’s stock worth $10,154,000 after buying an additional 90,827 shares during the last quarter. Norges Bank purchased a new position in shares of Gannett in the fourth quarter worth $20,333,000. One Wealth Advisors LLC raised its holdings in shares of Gannett by 20.7% in the fourth quarter. One Wealth Advisors LLC now owns 39,329 shares of the company’s stock worth $335,000 after buying an additional 6,758 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Gannett by 2.2% in the fourth quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock worth $690,000 after buying an additional 1,778 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan purchased a new position in shares of Gannett in the fourth quarter worth $480,000. 97.93% of the stock is 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. 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.
Further Reading: How can you know how many shares are floating?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Gannett Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gannett and related companies with MarketBeat.com's FREE daily email newsletter.