Zacks Investment Research cut shares of Gannett (NYSE:GCI) from a hold rating to a sell rating in a research report released on Tuesday morning.

According to Zacks, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets. “

Separately, ValuEngine raised shares of Gannett from a hold rating to a buy rating in a research note on Tuesday, January 15th. Two investment analysts have rated the stock with a sell rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $11.67.

Shares of GCI opened at $10.90 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 0.97 and a debt-to-equity ratio of 0.29. The company has a market cap of $1.24 billion, a P/E ratio of 10.09 and a beta of 1.33. Gannett has a 1 year low of $8.37 and a 1 year high of $11.99.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Wednesday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.07). The firm had revenue of $751.40 million for the quarter, compared to analysts’ expectations of $768.47 million. Gannett had a net margin of 0.52% and a return on equity of 11.52%. The business’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.55 EPS. On average, equities analysts predict that Gannett will post 0.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 25th. Investors of record on Monday, March 11th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 5.87%. The ex-dividend date is Friday, March 8th. Gannett’s payout ratio is 59.26%.

Several institutional investors and hedge funds have recently made changes to their positions in GCI. Geode Capital Management LLC raised its stake in Gannett by 8.3% during the fourth quarter. Geode Capital Management LLC now owns 1,190,533 shares of the company’s stock worth $10,154,000 after purchasing an additional 90,827 shares during the period. Norges Bank purchased a new position in Gannett during the fourth quarter worth approximately $20,333,000. One Wealth Advisors LLC raised its stake in Gannett by 20.7% during the fourth quarter. One Wealth Advisors LLC now owns 39,329 shares of the company’s stock worth $335,000 after purchasing an additional 6,758 shares during the period. Thrivent Financial for Lutherans raised its stake in Gannett by 2.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 80,847 shares of the company’s stock worth $690,000 after purchasing an additional 1,778 shares during the period. Finally, Municipal Employees Retirement System of Michigan purchased a new position in Gannett during the fourth quarter worth approximately $480,000. 97.93% of the stock is currently owned by institutional investors and hedge funds.

Gannett Company Profile

Gannett Co, Inc operates as a media and marketing solutions company. The company operates through Publishing and ReachLocal segments. The company offers print and digital daily and non-daily publications under the USA TODAY NETWORK brand name in the United States; and Newsquest, which has print and online publications portfolio of approximately 170 news brands and 80 magazines in the United Kingdom.

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