USA Today (NYSE:TDAY) Price Target Raised to $10.00 at Citizens Jmp

Key Points

• Citizens Jmp raised its price target on USA Today parent Gannett (NYSE:TDAY) from $8.00 to $10.00 and kept a market outperform rating, implying about 16.4% upside from the prior close.
• Other analysts are mostly positive: Citigroup reiterated outperform, Wall Street Zen upgraded the stock to buy, and Rosenblatt reaffirmed a buy with a $10 target, while Weiss Ratings downgraded it to sell.
• The stock closed at $8.59, near its 52-week high of $8.90, and the company recently posted $0.09 EPS versus expectations for a loss, though revenue came in below estimates and fell 4.0% year over year.

USA Today (NYSE:TDAY - Get Free Report) had its price target lifted by analysts at Citizens Jmp from $8.00 to $10.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price target would indicate a potential upside of 16.41% from the stock's previous close.

Other equities research analysts have also issued reports about the company. Citigroup restated an "outperform" rating on shares of USA Today in a research report on Tuesday. Wall Street Zen upgraded USA Today from a "hold" rating to a "buy" rating in a research note on Sunday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $10.00 price objective on shares of USA Today in a research note on Thursday, June 4th. Weiss Ratings cut USA Today from a "hold (c)" rating to a "sell (d+)" rating in a research report on Wednesday, May 6th. Finally, New Street Research set a $8.05 price objective on USA Today in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $9.03.

USA Today Stock Performance

Shares of NYSE TDAY opened at $8.59 on Tuesday. USA Today has a 52-week low of $3.42 and a 52-week high of $8.90. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 143.19 and a beta of 1.40. The company has a quick ratio of 0.77, a current ratio of 0.79 and a debt-to-equity ratio of 6.33. The stock's fifty day simple moving average is $7.93 and its 200 day simple moving average is $6.80.

USA Today (NYSE:TDAY - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.17. USA Today had a return on equity of 21.75% and a net margin of 1.27%.The firm had revenue of $548.49 million for the quarter, compared to the consensus estimate of $562.00 million. During the same quarter in the previous year, the company earned ($0.05) EPS. The business's revenue for the quarter was down 4.0 compared to the same quarter last year.

Institutional Investors Weigh In On USA Today

Several hedge funds and other institutional investors have recently made changes to their positions in TDAY. Abel Hall LLC lifted its position in shares of USA Today by 12.9% during the 1st quarter. Abel Hall LLC now owns 14,516 shares of the company's stock worth $102,000 after purchasing an additional 1,660 shares during the last quarter. PFG Investments LLC grew its position in USA Today by 3.2% in the 1st quarter. PFG Investments LLC now owns 54,243 shares of the company's stock worth $382,000 after purchasing an additional 1,700 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of USA Today by 0.6% during the 1st quarter. First Trust Advisors LP now owns 396,086 shares of the company's stock worth $2,792,000 after purchasing an additional 2,287 shares during the period. Legal & General Group Plc increased its holdings in shares of USA Today by 2.4% during the 2nd quarter. Legal & General Group Plc now owns 137,622 shares of the company's stock worth $493,000 after purchasing an additional 3,193 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of USA Today by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 84,362 shares of the company's stock valued at $244,000 after buying an additional 3,588 shares during the last quarter. 76.71% of the stock is owned by institutional investors and hedge funds.

USA Today Company Profile

Gannett Co, Inc NYSE: GCI is a media and marketing solutions company headquartered in McLean, Virginia. As the largest U.S. newspaper publisher by circulation, Gannett publishes USA Today alongside more than 260 local news brands. The company’s multimedia platforms include daily and weekly newspapers, websites, mobile apps and a network of subscription-based digital products.

In addition to journalism and content production, Gannett offers a suite of digital marketing services designed to help small and medium-sized businesses grow online.

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