Gannett (NYSE:GCI) Issues Earnings Results

Key Points

• Gannett reported quarterly earnings of $0.45 per share, significantly exceeding the consensus estimate of ($0.04) by $0.49.
• The company generated revenue of $584.86 million, falling short of analysts' expectations of $593.13 million.
• CEO Michael Reed purchased 27,000 shares of Gannett at an average price of $3.25, raising his ownership stake and signaling confidence in the company.

Gannett (NYSE:GCI - Get Free Report) posted its quarterly earnings data on Thursday. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.49, Zacks reports. Gannett had a return on equity of 53.24% and a net margin of 4.84%. The business had revenue of $584.86 million for the quarter, compared to analysts' expectations of $593.13 million.

Gannett Stock Performance

Shares of NYSE GCI traded down $0.06 during midday trading on Wednesday, hitting $4.12. 1,466,998 shares of the company's stock were exchanged, compared to its average volume of 1,587,238. The firm has a market cap of $603.34 million, a P/E ratio of 12.10 and a beta of 2.62. The company has a debt-to-equity ratio of 3.89, a current ratio of 0.73 and a quick ratio of 0.70. Gannett has a twelve month low of $2.55 and a twelve month high of $5.93. The stock's 50 day moving average price is $3.63 and its 200-day moving average price is $3.66.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Strs Ohio acquired a new position in Gannett during the first quarter worth $187,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Gannett by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,362 shares of the company's stock worth $244,000 after buying an additional 3,588 shares during the last quarter. AQR Capital Management LLC increased its position in Gannett by 47.6% during the first quarter. AQR Capital Management LLC now owns 566,994 shares of the company's stock worth $1,639,000 after buying an additional 182,824 shares during the last quarter. Finally, Empowered Funds LLC increased its position in Gannett by 2.0% during the first quarter. Empowered Funds LLC now owns 951,925 shares of the company's stock worth $2,751,000 after buying an additional 18,933 shares during the last quarter. 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.