Gannett (NYSE:GCI) Shares Down 5.9% – Here’s Why

by · The Markets Daily

Shares of Gannett Co., Inc. (NYSE:GCI – Get Free Report) traded down 5.9% on Friday . The stock traded as low as $4.60 and last traded at $4.5850. 605,530 shares were traded during trading, a decline of 64% from the average session volume of 1,677,400 shares. The stock had previously closed at $4.87.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GCI shares. Citigroup lifted their price objective on Gannett from $4.30 to $5.10 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings reiterated a “sell (d+)” rating on shares of Gannett in a research report on Thursday. Finally, Wall Street Zen lowered shares of Gannett from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $5.55.

Read Our Latest Report on GCI

Gannett Trading Down 3.9%

The stock has a market cap of $688.62 million, a PE ratio of 22.29 and a beta of 2.55. The company has a current ratio of 0.69, a quick ratio of 0.67 and a debt-to-equity ratio of 4.66. The firm has a fifty day simple moving average of $4.26 and a two-hundred day simple moving average of $3.90.

Gannett (NYSE:GCI – Get Free Report) last issued 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). Gannett had a return on equity of 42.98% and a net margin of 4.11%.The business had revenue of $560.80 million for the quarter, compared to analysts’ expectations of $575.58 million.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GCI. Kapitalo Investimentos Ltda bought a new position in Gannett in the third quarter valued at $44,000. Principal Financial Group Inc. bought a new stake in Gannett during the third quarter worth about $45,000. Cambiar Investors LLC boosted its holdings in shares of Gannett by 26.1% in the 1st quarter. Cambiar Investors LLC now owns 17,103 shares of the company’s stock worth $49,000 after purchasing an additional 3,545 shares in the last quarter. Savant Capital LLC bought a new position in shares of Gannett during the 2nd quarter valued at about $50,000. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Gannett during the 2nd quarter valued at about $53,000. 76.71% of the stock is currently owned by hedge funds and other 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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