Brokerages expect Gannett Co Inc (NYSE:GCI) to announce sales of $724.39 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Gannett’s earnings, with the highest sales estimate coming in at $729.00 million and the lowest estimate coming in at $720.07 million. Gannett reported sales of $744.27 million during the same quarter last year, which indicates a negative year over year growth rate of 2.7%. The business is scheduled to issue its next quarterly earnings results before the market opens on Thursday, November 8th.
On average, analysts expect that Gannett will report full year sales of $2.97 billion for the current fiscal year, with estimates ranging from $2.97 billion to $2.99 billion. For the next financial year, analysts expect that the business will report sales of $2.93 billion, with estimates ranging from $2.90 billion to $2.99 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Gannett.
Gannett (NYSE:GCI) last issued its quarterly earnings results on Thursday, August 9th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.10. Gannett had a return on equity of 13.14% and a net margin of 0.83%. The company had revenue of $730.77 million for the quarter, compared to analyst estimates of $739.17 million. During the same quarter last year, the company posted $0.18 EPS. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year.
In related news, CMO Andrew T. Yost sold 3,500 shares of the firm’s stock in a transaction on Friday, August 17th. The stock was sold at an average price of $10.31, for a total transaction of $36,085.00. Following the sale, the chief marketing officer now owns 3,534 shares of the company’s stock, valued at approximately $36,435.54. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andrew T. Yost sold 5,175 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $10.39, for a total value of $53,768.25. Following the sale, the insider now directly owns 7,034 shares in the company, valued at approximately $73,083.26. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,012 shares of company stock worth $93,318. 1.06% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Suntrust Banks Inc. acquired a new stake in shares of Gannett during the 1st quarter valued at $117,000. NJ State Employees Deferred Compensation Plan acquired a new stake in shares of Gannett during the 3rd quarter valued at $120,000. Itau Unibanco Holding S.A. acquired a new stake in shares of Gannett during the 2nd quarter valued at $136,000. CSat Investment Advisory L.P. acquired a new stake in shares of Gannett during the 2nd quarter valued at $160,000. Finally, Trexquant Investment LP acquired a new stake in shares of Gannett during the 2nd quarter valued at $166,000. 98.27% of the stock is currently owned by institutional investors.
Shares of GCI traded down $0.38 during midday trading on Friday, hitting $9.20. The company’s stock had a trading volume of 1,067,800 shares, compared to its average volume of 1,123,071. Gannett has a one year low of $8.42 and a one year high of $12.38. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $1.13 billion, a price-to-earnings ratio of 8.93 and a beta of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 24th. Stockholders of record on Monday, December 10th will be paid a $0.16 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $0.64 annualized dividend and a dividend yield of 6.96%. Gannett’s payout ratio is 62.14%.
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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