Gannett Co Inc (NYSE:GCI) announced a quarterly dividend on Tuesday, July 23rd, RTT News reports. Investors of record on Monday, September 16th will be given a dividend of 0.16 per share on Monday, September 30th. This represents a $0.64 annualized dividend and a dividend yield of 5.89%. The ex-dividend date is Friday, September 13th.
Gannett has increased its dividend payment by an average of 21.1% annually over the last three years. Gannett has a dividend payout ratio of 59.8% meaning its dividend is sufficiently covered by earnings. Research analysts expect Gannett to earn $0.57 per share next year, which means the company may not be able to cover its $0.64 annual dividend with an expected future payout ratio of 112.3%.
Shares of Gannett stock opened at $10.87 on Thursday. Gannett has a fifty-two week low of $7.41 and a fifty-two week high of $11.99. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.24 billion, a P/E ratio of 10.06 and a beta of 1.28. The company’s 50 day moving average price is $10.26 and its two-hundred day moving average price is $9.55.
A number of analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Saturday, August 10th. ValuEngine raised shares of Gannett from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. Finally, Noble Financial reaffirmed a “market perform” rating on shares of Gannett in a research note on Tuesday, August 6th.
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.
Recommended Story: What is a resistance level?
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.