Gannett Co Inc (NYSE:GCI) announced a quarterly dividend on Wednesday, October 17th, RTT News reports. Stockholders of record on Monday, December 10th will be paid a dividend of 0.16 per share on Monday, December 24th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 6.34%. The ex-dividend date is Friday, December 7th.
Gannett has decreased its dividend payment by an average of 7.2% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Gannett has a dividend payout ratio of 59.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Gannett to earn $1.03 per share next year, which means the company should continue to be able to cover its $0.64 annual dividend with an expected future payout ratio of 62.1%.
Shares of GCI stock opened at $10.10 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.02 and a quick ratio of 1.02. The stock has a market capitalization of $1.14 billion, a PE ratio of 9.81 and a beta of 0.85. Gannett has a one year low of $9.04 and a one year high of $12.38.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Gannett from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Wednesday, November 14th. ValuEngine raised Gannett from a “sell” rating to a “hold” rating in a research note on Monday, November 26th. TheStreet cut Gannett from a “b-” rating to a “c” rating in a research note on Thursday, November 8th. Finally, Noble Financial set a $17.00 target price on Gannett and gave the stock a “buy” rating in a research note on Friday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $12.00.
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.
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