Gannett (NYSE:GCI) Trading Down 5.9% - Here's Why
Gannett Co., Inc. (NYSE:GCI) shares fell 5.9% to $4.5850, with trading volume down 64% from the average. Analysts have mixed ratings: Weiss Ratings reiterated a 'sell', Citigroup raised its target price to $5.10 with a 'neutral' rating, and Wall Street Zen downgraded to 'sell'. Gannett's recent earnings missed expectations, reporting a loss of $0.21 per share. Institutional investors hold 76.71% of the stock.
Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s share price traded down 5.9% during trading on Friday . The company traded as low as $4.60 and last traded at $4.5850. 605,530 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,677,400 shares. The stock had previously closed at $4.87.
Analysts Set New Price Targets
A number of analysts have weighed in on GCI shares. Weiss Ratings reiterated a "sell (d+)" rating on shares of Gannett in a report on Thursday. Citigroup upped their target price on shares of Gannett from $4.30 to $5.10 and gave the stock a "neutral" rating in a report on Wednesday. Finally, Wall Street Zen downgraded Gannett from a "hold" rating to a "sell" rating in a research note on Saturday, November 8th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $5.55.
Get Our Latest Research Report on Gannett
Gannett Trading Down 3.9%
The firm has a market capitalization of $688.62 million, a PE ratio of 22.29 and a beta of 2.55. The firm's fifty day moving average is $4.26 and its two-hundred day moving average is $3.90. The company has a debt-to-equity ratio of 4.66, a current ratio of 0.69 and a quick ratio of 0.67.
Gannett (NYSE:GCI - Get Free Report) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.21) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.17). The firm had revenue of $560.80 million during the quarter, compared to analysts' expectations of $575.58 million. Gannett had a net margin of 4.11% and a return on equity of 42.98%.
Institutional Trading of Gannett
A number of large investors have recently added to or reduced their stakes in the stock. Kapitalo Investimentos Ltda bought a new stake in Gannett in the third quarter worth about $44,000. Principal Financial Group Inc. purchased a new stake in shares of Gannett during the 3rd quarter worth approximately $45,000. Russell Investments Group Ltd. raised its holdings in shares of Gannett by 1,130.6% in the 3rd quarter. Russell Investments Group Ltd. now owns 12,749 shares of the company's stock worth $53,000 after purchasing an additional 11,713 shares during the period. Caprock Group LLC purchased a new position in Gannett in the third quarter valued at approximately $53,000. Finally, Savant Capital LLC bought a new position in Gannett during the second quarter valued at $50,000. Hedge funds and other institutional investors own 76.71% of the company's stock.
About Gannett
(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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