ValuEngine Lowers Gannett (NYSE:GCI) to Hold

Gannett (NYSE:GCI) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

Several other brokerages have also issued reports on GCI. Zacks Investment Research upgraded Gannett from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research report on Saturday, August 10th. Noble Financial restated a “market perform” rating on shares of Gannett in a research report on Tuesday, August 6th.

Shares of NYSE:GCI traded down $0.03 during trading hours on Wednesday, hitting $10.70. 1,277,227 shares of the company’s stock traded hands, compared to its average volume of 1,555,620. Gannett has a 1 year low of $7.41 and a 1 year high of $11.99. The business has a fifty day moving average price of $10.59 and a 200-day moving average price of $9.51. The firm has a market capitalization of $1.23 billion, a P/E ratio of 9.91 and a beta of 1.28. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.82.

Gannett (NYSE:GCI) last announced its earnings results on Monday, August 5th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.08. Gannett had a return on equity of 10.32% and a net margin of 0.50%. The business had revenue of $660.30 million during the quarter, compared to analyst estimates of $689.92 million. During the same quarter in the previous year, the business earned $0.31 earnings per share. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. As a group, equities analysts predict that Gannett will post 0.61 earnings per share for the current year.

Several large investors have recently made changes to their positions in the business. Arizona State Retirement System boosted its holdings in shares of Gannett by 0.6% in the second quarter. Arizona State Retirement System now owns 177,645 shares of the company’s stock valued at $1,450,000 after purchasing an additional 1,067 shares during the period. Mission Wealth Management LP boosted its holdings in shares of Gannett by 4.9% in the second quarter. Mission Wealth Management LP now owns 24,733 shares of the company’s stock valued at $202,000 after purchasing an additional 1,150 shares during the period. Crossmark Global Holdings Inc. boosted its holdings in shares of Gannett by 3.8% in the second quarter. Crossmark Global Holdings Inc. now owns 34,360 shares of the company’s stock valued at $280,000 after purchasing an additional 1,259 shares during the period. United Services Automobile Association boosted its holdings in shares of Gannett by 7.2% in the second quarter. United Services Automobile Association now owns 40,401 shares of the company’s stock valued at $330,000 after purchasing an additional 2,719 shares during the period. Finally, Strs Ohio boosted its holdings in shares of Gannett by 7.4% in the second quarter. Strs Ohio now owns 62,100 shares of the company’s stock valued at $506,000 after purchasing an additional 4,300 shares during the period. Institutional investors and hedge funds own 95.78% 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. 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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