Gannett (NYSE:GCI) Shares Gap Up on Earnings Beat

Key Points

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Gannett Co., Inc. (NYSE:GCI - Get Free Report)'s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $3.65, but opened at $3.94. Gannett shares last traded at $3.82, with a volume of 867,132 shares.

The company reported $0.45 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.49. Gannett had a return on equity of 53.24% and a net margin of 4.84%. The firm had revenue of $584.86 million for the quarter, compared to analyst estimates of $593.13 million.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Aquatic Capital Management LLC acquired a new position in shares of Gannett during the fourth quarter valued at $35,000. Straightline Group LLC acquired a new position in shares of Gannett during the fourth quarter valued at $56,000. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Gannett during the second quarter valued at $53,000. CANADA LIFE ASSURANCE Co bought a new position in Gannett during the fourth quarter valued at about $75,000. Finally, MQS Management LLC bought a new position in Gannett during the second quarter valued at about $54,000. 76.71% of the stock is owned by institutional investors and hedge funds.

Gannett Price Performance

The company has a 50 day moving average of $3.62 and a two-hundred day moving average of $3.66. The firm has a market cap of $610.67 million, a P/E ratio of 12.25 and a beta of 2.62. The company has a quick ratio of 0.70, a current ratio of 0.73 and a debt-to-equity ratio of 3.89.

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.