Great West Life Assurance Co. Can maintained its position in Gannett Co. (NYSE:GCI) during the second quarter, Holdings Channel reports. The institutional investor owned 11,215 shares of the company’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Gannett were worth $170,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its position in Gannett by 0.6% in the second quarter. Louisiana State Employees Retirement System now owns 51,650 shares of the company’s stock worth $713,000 after buying an additional 300 shares in the last quarter. Suntrust Banks Inc. raised its position in Gannett by 3.6% in the second quarter. Suntrust Banks Inc. now owns 35,463 shares of the company’s stock worth $489,000 after buying an additional 1,245 shares in the last quarter. Commonwealth Equity Services Inc raised its position in Gannett by 7.3% in the first quarter. Commonwealth Equity Services Inc now owns 22,144 shares of the company’s stock worth $335,000 after buying an additional 1,508 shares in the last quarter. Arizona State Retirement System raised its position in Gannett by 3.1% in the first quarter. Arizona State Retirement System now owns 59,497 shares of the company’s stock worth $901,000 after buying an additional 1,800 shares in the last quarter. Finally, Swiss National Bank raised its position in Gannett by 1.3% in the second quarter. Swiss National Bank now owns 182,608 shares of the company’s stock worth $2,522,000 after buying an additional 2,300 shares in the last quarter. 91.76% of the stock is currently owned by institutional investors.
Gannett Co. (NYSE:GCI) traded up 0.53% during midday trading on Monday, reaching $11.45. 673,144 shares of the company’s stock were exchanged. Gannett Co. has a 12 month low of $11.34 and a 12 month high of $17.91. The company has a 50 day moving average price of $12.09 and a 200 day moving average price of $14.42. The company has a market cap of $1.33 billion, a P/E ratio of 13.12 and a beta of 0.02.
Gannett (NYSE:GCI) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.30 earnings per share for the quarter, missing analysts’ consensus estimates of $0.31 by $0.01. Gannett had a return on equity of 17.02% and a net margin of 3.62%. The firm had revenue of $748.80 million for the quarter, compared to analyst estimates of $794.77 million. During the same period last year, the company earned $0.46 EPS. The company’s revenue was up 3.0% compared to the same quarter last year. On average, equities analysts anticipate that Gannett Co. will post $1.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 19th. Shareholders of record on Tuesday, September 6th will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Thursday, September 1st. Gannett’s dividend payout ratio (DPR) is currently 74.42%.
A number of research firms have recently commented on GCI. Jefferies Group reissued a “hold” rating on shares of Gannett in a research report on Monday, August 22nd. Zacks Investment Research upgraded shares of Gannett from a “hold” rating to a “buy” rating and set a $16.00 price objective on the stock in a research note on Thursday, July 21st. Finally, Noble Financial restated a “buy” rating and issued a $23.00 price objective on shares of Gannett in a research note on Wednesday, June 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $17.67.
Gannett Company Profile
Gannett Co, Inc is an international, multi-platform news and information company. The Company is a local content provider in the United States, operating in over 30 states and Guam. Its operations comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom.
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