I'm LongbridgeAI, I can summarize articles.Gannett (NYSE:GCI) reported quarterly earnings of ($0.21) per share, missing analysts' estimates of ($0.04) by ($0.17). The company had a net margin of 4.84% and a return on equity of 53.24%. Following the earnings release, Gannett's shares rose 26.6% to $5.21. The stock has a market cap of $763.16 million and a consensus rating of "Moderate Buy" with an average target price of $6.00. Institutional investors own 76.71% of the stock, with several recent stake changes noted.
Gannett (NYSE:GCI - Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($0.21) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.17), Zacks reports. Gannett had a return on equity of 53.24% and a net margin of 4.84%.
Gannett Trading Up 26.6%
Shares of NYSE GCI traded up $1.10 during mid-day trading on Thursday, reaching $5.21. The company had a trading volume of 6,741,809 shares, compared to its average volume of 1,579,995. The business's 50-day moving average is $4.04 and its 200-day moving average is $3.76. The company has a current ratio of 0.73, a quick ratio of 0.70 and a debt-to-equity ratio of 3.89. The stock has a market cap of $763.16 million, a price-to-earnings ratio of 15.19 and a beta of 2.55. Gannett has a 52 week low of $2.55 and a 52 week high of $5.80.
Analyst Ratings Changes
Separately, Weiss Ratings reiterated a "hold (c)" rating on shares of Gannett in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Gannett presently has a consensus rating of "Moderate Buy" and an average target price of $6.00.
View Our Latest Research Report on GCI
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GCI. Nebula Research & Development LLC purchased a new stake in shares of Gannett during the second quarter valued at about $62,000. Prudential Financial Inc. raised its position in Gannett by 72.0% during the 2nd quarter. Prudential Financial Inc. now owns 18,062 shares of the company's stock worth $65,000 after buying an additional 7,562 shares during the last quarter. Tower Research Capital LLC TRC raised its position in Gannett by 592.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 38,545 shares of the company's stock worth $138,000 after buying an additional 32,977 shares during the last quarter. Brevan Howard Capital Management LP purchased a new position in Gannett during the 2nd quarter worth approximately $184,000. Finally, Strs Ohio acquired a new stake in shares of Gannett during the 1st quarter worth approximately $187,000. 76.71% of the stock is currently owned by institutional investors.
Gannett Company Profile
(Get Free Report)Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The company's print offerings includes home delivery on a subscription basis; single copy; non-daily publications, such as shoppers and niche publications.
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