Equities analysts forecast that Gannett Co Inc (NYSE:GCI) will announce sales of $680.77 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Gannett’s earnings. The highest sales estimate is $681.53 million and the lowest is $680.00 million. Gannett reported sales of $711.71 million during the same quarter last year, which indicates a negative year over year growth rate of 4.3%. The company is scheduled to report its next quarterly earnings results on Thursday, November 14th.
On average, analysts expect that Gannett will report full-year sales of $2.76 billion for the current financial year, with estimates ranging from $2.74 billion to $2.77 billion. For the next fiscal year, analysts anticipate that the business will post sales of $2.60 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for Gannett.
Gannett (NYSE:GCI) last issued its earnings results on Monday, August 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.08. Gannett had a return on equity of 10.32% and a net margin of 0.50%. The company had revenue of $660.30 million for the quarter, compared to analysts’ expectations of $689.92 million. During the same period last year, the business earned $0.31 EPS. Gannett’s quarterly revenue was down 9.6% compared to the same quarter last year.
A number of large investors have recently modified their holdings of the business. Arizona State Retirement System lifted its stake in Gannett by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 177,645 shares of the company’s stock valued at $1,450,000 after acquiring an additional 1,067 shares in the last quarter. Mission Wealth Management LP lifted its stake in Gannett by 4.9% during the 2nd quarter. Mission Wealth Management LP now owns 24,733 shares of the company’s stock valued at $202,000 after acquiring an additional 1,150 shares in the last quarter. Crossmark Global Holdings Inc. lifted its stake in Gannett by 3.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 34,360 shares of the company’s stock valued at $280,000 after acquiring an additional 1,259 shares in the last quarter. Mason Street Advisors LLC lifted its stake in Gannett by 4.7% during the 1st quarter. Mason Street Advisors LLC now owns 36,761 shares of the company’s stock valued at $387,000 after acquiring an additional 1,635 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. increased its position in shares of Gannett by 6.7% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 28,721 shares of the company’s stock valued at $303,000 after purchasing an additional 1,801 shares during the last quarter. Institutional investors and hedge funds own 95.85% of the company’s stock.
Shares of GCI traded up $0.16 during trading hours on Thursday, reaching $10.41. The stock had a trading volume of 884,313 shares, compared to its average volume of 1,640,961. Gannett has a 12 month low of $7.41 and a 12 month high of $11.99. The firm has a 50-day simple moving average of $9.45 and a 200 day simple moving average of $9.60. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.17 billion, a price-to-earnings ratio of 9.64 and a beta of 1.30.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Shareholders of record on Monday, September 16th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.15%. The ex-dividend date is Friday, September 13th. Gannett’s dividend payout ratio (DPR) is presently 59.26%.
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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