Royal Bank of Canada grew its stake in Gannett Co., Inc. (NYSE:GCI) by 47.6% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,058 shares of the company’s stock after purchasing an additional 35,173 shares during the quarter. Royal Bank of Canada owned about 0.10% of Gannett Co. worth $950,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently modified their holdings of GCI. BlackRock Inc. raised its holdings in Gannett Co. by 43,997.2% in the 1st quarter. BlackRock Inc. now owns 14,361,136 shares of the company’s stock worth $120,348,000 after purchasing an additional 14,328,569 shares in the last quarter. Renaissance Technologies LLC bought a new position in Gannett Co. in the 1st quarter worth $9,330,000. Dimensional Fund Advisors LP grew its position in shares of Gannett Co. by 19.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,109,673 shares of the company’s stock worth $53,277,000 after buying an additional 1,005,908 shares during the period. Credit Suisse AG grew its position in shares of Gannett Co. by 220.8% in the 1st quarter. Credit Suisse AG now owns 849,350 shares of the company’s stock worth $7,118,000 after buying an additional 584,591 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Gannett Co. by 41.9% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,563,155 shares of the company’s stock worth $13,631,000 after buying an additional 461,479 shares during the period. Institutional investors and hedge funds own 83.84% of the company’s stock.
A number of analysts have recently weighed in on the stock. Zacks Investment Research raised shares of Gannett Co. from a “sell” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub downgraded shares of Gannett Co. from a “buy” rating to a “hold” rating in a research report on Monday, August 7th. Finally, ValuEngine raised shares of Gannett Co. from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has an average rating of “Buy”.
Shares of Gannett Co., Inc. (NYSE:GCI) opened at $10.61 on Tuesday. The firm has a market cap of $1,137.81, a PE ratio of 10.39 and a beta of 0.59. 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 Co., Inc. has a 1 year low of $7.36 and a 1 year high of $10.88.
Gannett Co. (NYSE:GCI) last released its earnings results on Thursday, November 2nd. The company reported $0.16 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.11 by $0.05. Gannett Co. had a net margin of 1.43% and a return on equity of 13.25%. The firm had revenue of $744.30 million for the quarter, compared to the consensus estimate of $762.97 million. During the same period in the prior year, the firm earned ($0.21) EPS. The company’s revenue was down 3.6% compared to the same quarter last year. research analysts anticipate that Gannett Co., Inc. will post 0.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 26th. Investors of record on Tuesday, December 12th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 6.03%. The ex-dividend date of this dividend is Monday, December 11th. Gannett Co.’s dividend payout ratio (DPR) is 164.11%.
About Gannett Co.
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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