Citigroup Lowers Gannett (NYSE:GCI) to Sell

Citigroup downgraded shares of Gannett (NYSE:GCI) from a neutral rating to a sell rating in a report published on Wednesday, MarketBeat.com reports. They currently have $5.10 price target on the stock.

Separately, JMP Securities upgraded Gannett to a strong-buy rating in a research note on Friday, August 2nd.

Gannett Stock Performance

Shares of Gannett stock opened at $5.29 on Wednesday. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. The business has a fifty day simple moving average of $4.75 and a two-hundred day simple moving average of $3.52. The firm has a market capitalization of $780.53 million, a P/E ratio of -6.08 and a beta of 2.50. Gannett has a 12 month low of $1.66 and a 12 month high of $5.91.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.25. Gannett had a negative net margin of 3.71% and a negative return on equity of 17.12%. The business had revenue of $639.84 million for the quarter.

Institutional Investors Weigh In On Gannett

Institutional investors have recently made changes to their positions in the company. Rhumbline Advisers boosted its stake in Gannett by 1.5% during the 2nd quarter. Rhumbline Advisers now owns 231,252 shares of the company’s stock valued at $1,066,000 after purchasing an additional 3,333 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Gannett by 9.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 88,368 shares of the company’s stock valued at $216,000 after purchasing an additional 7,732 shares in the last quarter. Simplicity Wealth LLC boosted its position in shares of Gannett by 77.9% during the second quarter. Simplicity Wealth LLC now owns 18,166 shares of the company’s stock valued at $84,000 after buying an additional 7,952 shares during the last quarter. Cambiar Investors LLC purchased a new stake in shares of Gannett during the second quarter valued at $49,000. Finally, Focus Financial Network Inc. ADV bought a new stake in Gannett in the 4th quarter worth about $25,000. Hedge funds and other institutional investors own 76.71% of the company’s stock.

Gannett Company Profile

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.