USA Today (NYSE:TDAY) Sets New 1-Year High - Here's What Happened

Key Points

• USA Today shares hit a new 52-week high, reaching $8.92 and last trading at $8.84, up from the prior close of $8.63.
• Analyst sentiment remains generally positive, with a consensus “Moderate Buy” rating and an average price target of $9.03, though some firms have downgraded the stock to “Hold” or “Sell.”
• The company reported quarterly earnings of $0.09 per share, beating estimates, while revenue of $548.49 million fell short of expectations and declined 4% year over year; institutional investors own 76.71% of the stock.

USA Today Co. (NYSE:TDAY - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.92 and last traded at $8.84, with a volume of 402557 shares. The stock had previously closed at $8.63.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TDAY shares. Rosenblatt Securities restated a "buy" rating and set a $10.00 price objective on shares of USA Today in a research report on Thursday, June 4th. Wall Street Zen lowered shares of USA Today from a "buy" rating to a "hold" rating in a research report on Monday, July 20th. Weiss Ratings cut USA Today from a "hold (c)" rating to a "sell (d+)" rating in a report on Wednesday, May 6th. Citizens Jmp raised their price objective on USA Today from $8.00 to $10.00 and gave the stock a "market outperform" rating in a research note on Tuesday, July 14th. Finally, Citigroup reaffirmed an "outperform" rating on shares of USA Today in a research report on Tuesday, July 14th. Three investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $9.03.

USA Today Price Performance

The company has a market cap of $1.32 billion, a PE ratio of 149.52 and a beta of 1.40. The stock has a fifty day moving average price of $8.17 and a 200-day moving average price of $7.11. The company has a debt-to-equity ratio of 6.33, a current ratio of 0.79 and a quick ratio of 0.77.

USA Today (NYSE:TDAY - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of ($0.08) by $0.17. USA Today had a return on equity of 21.75% and a net margin of 1.27%.The business 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 posted ($0.05) earnings per share. USA Today's revenue for the quarter was down 4.0 compared to the same quarter last year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. KBC Group NV bought a new position in shares of USA Today during the 1st quarter worth about $31,000. Public Employees Retirement System of Ohio bought a new position in USA Today during the 4th quarter valued at about $45,000. Public Employees Retirement Association of Colorado bought a new position in USA Today in the 4th quarter valued at $53,000. Nisa Investment Advisors LLC acquired a new stake in USA Today in the 4th quarter valued at about $57,000. Finally, Cruiser Capital Advisors LLC acquired a new position in USA Today during the 4th quarter worth $57,000. Institutional investors own 76.71% of the company's stock.

About USA Today

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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