Gannett Co Inc (GCI) To Go Ex-Dividend on September 13th

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Gannett Co Inc (NYSE:GCI) declared a quarterly dividend on Tuesday, July 23rd, RTT News reports. Shareholders of record on Monday, September 16th will be paid a dividend of 0.16 per share on Monday, September 30th. This represents a $0.64 dividend on an annualized basis and a yield of 5.89%. The ex-dividend date is Friday, September 13th.

Gannett has raised its dividend payment by an average of 21.1% annually over the last three years. Gannett has a dividend payout ratio of 59.8% indicating that its dividend is sufficiently covered by earnings. 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 NYSE GCI opened at $10.86 on Wednesday. The company has a 50 day simple moving average of $10.23 and a 200 day simple moving average of $9.55. The firm has a market cap of $1.24 billion, a PE ratio of 10.06 and a beta of 1.28. Gannett has a 1 year low of $7.41 and a 1 year 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.

Gannett (NYSE:GCI) last posted its earnings results on Monday, August 5th. The company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.13 by $0.08. Gannett had a net margin of 0.50% and a return on equity of 10.32%. The business had revenue of $660.30 million for the quarter, compared to the consensus estimate of $689.92 million. During the same period last year, the company earned $0.31 EPS. The firm’s revenue was down 9.6% compared to the same quarter last year. As a group, research analysts anticipate that Gannett will post 0.56 earnings per share for the current fiscal year.

Several research analysts recently issued reports on GCI shares. Zacks Investment Research raised 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 reiterated a “market perform” rating on shares of Gannett in a research report on Tuesday, August 6th. Finally, ValuEngine raised Gannett from a “hold” rating to a “buy” rating in a research note on Friday, July 19th.

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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Dividend History for Gannett (NYSE:GCI)

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