Wall Street analysts expect Gannett Co Inc (NYSE:GCI) to post sales of $723.39 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Gannett’s earnings, with the lowest sales estimate coming in at $717.00 million and the highest estimate coming in at $729.77 million. Gannett posted sales of $773.46 million during the same quarter last year, which suggests a negative year over year growth rate of 6.5%. The business is scheduled to issue its next earnings report on Tuesday, April 24th.
On average, analysts expect that Gannett will report full-year sales of $723.39 million for the current financial year, with estimates ranging from $2.93 billion to $3.02 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $2.88 billion per share, with estimates ranging from $2.84 billion to $2.97 billion. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Gannett.
Gannett (NYSE:GCI) last released its earnings results on Tuesday, February 20th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.46 by $0.09. Gannett had a net margin of 0.22% and a return on equity of 13.92%. The business had revenue of $854.00 million for the quarter, compared to analyst estimates of $848.74 million. During the same period last year, the company posted $0.50 EPS. The business’s revenue was down 1.5% on a year-over-year basis.
In other news, CEO Robert J. Dickey sold 19,533 shares of Gannett stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $10.35, for a total transaction of $202,166.55. Following the sale, the chief executive officer now owns 224,986 shares of the company’s stock, valued at approximately $2,328,605.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider John M. Zidich sold 28,089 shares of Gannett stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $10.21, for a total transaction of $286,788.69. The disclosure for this sale can be found here. 0.74% of the stock is currently owned by insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in shares of Gannett by 0.9% during the 4th quarter. BlackRock Inc. now owns 14,449,359 shares of the company’s stock valued at $167,470,000 after buying an additional 132,129 shares during the period. Vanguard Group Inc. increased its holdings in Gannett by 4.3% in the 2nd quarter. Vanguard Group Inc. now owns 10,732,518 shares of the company’s stock valued at $93,588,000 after purchasing an additional 439,304 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Gannett by 10.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 6,751,566 shares of the company’s stock valued at $60,764,000 after purchasing an additional 641,893 shares during the last quarter. LSV Asset Management increased its holdings in Gannett by 20.4% in the 4th quarter. LSV Asset Management now owns 3,567,695 shares of the company’s stock valued at $41,349,000 after purchasing an additional 604,450 shares during the last quarter. Finally, State Street Corp increased its holdings in Gannett by 3.1% in the 2nd quarter. State Street Corp now owns 3,165,173 shares of the company’s stock valued at $27,595,000 after purchasing an additional 96,469 shares during the last quarter. 87.13% of the stock is currently owned by hedge funds and other institutional investors.
Gannett (GCI) traded up $0.52 on Tuesday, reaching $10.73. 1,040,478 shares of the company’s stock were exchanged, compared to its average volume of 928,247. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.09 and a quick ratio of 1.09. Gannett has a twelve month low of $7.36 and a twelve month high of $12.38. The stock has a market cap of $1,199.28, a price-to-earnings ratio of 178.83 and a beta of 0.80.
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Gannett Co, Inc is a media company. The Company operates as a newspaper publisher in the United States. As of December 25, 2016, it owned ReachLocal, Inc (ReachLocal), a digital marketing solutions company; the USA TODAY NETWORK (made up of USA TODAY including digital sites and affiliates (USAT) and 109 local media organizations in 34 states in the United States and Guam), and Newsquest Media Group Ltd.
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