[Seeking Alpha] Gannett Co Inc (NYSE:GCI)(TREND ANALYSIS) is continuing its pursuit of the funny-named newspaper company tronc.
A buying spree has made it impossible for Gannett to buy back its own stock.
GCI’s shareholders would be better served with buybacks.
Is noted newspaper shark Gannett (NYSE:GCI) chasing tronc (NASDAQ:TRNC) too far?
Gannett’s initial $12.25 a share offer for its fellow newspaper publisher became public in April. The company raised its bid to $15 in May ($864 million including debt), saying the offer would remain on the table through August.
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Gannett Co Inc (NYSE:GCI) stock is currently trading 32.16% below its 52-week-high, 5.47% above its 52-week-low. The 1-year stock price history is in the range of $11.52 – $17.91. Gannett Co Inc (GCI) has a price to earnings ratio of 13.92 versus Services sector average of 20.03. GCI stock price has underperformed the S&P 500 by 32.4%. The Newspapers Publishing company is currently valued at $1.42 billion, and its share price closed the last trading session at $12.15. The stock has a 50-day moving average of $13.26 and a 200-day moving average of $14.83.
Gannett Co Inc (GCI) current short interest stands at 7.67 million shares. It has decreased by 2% from the same period of last month. Around 8% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.2 million shares, the number of days required to cover the short positions stand at 6.4 days.
GCI is forecasted to report earnings per share of $0.16 and a revenue of $753.89 million for the 3rd Quarter of the fiscal year 2016. Gannett Co Inc (GCI) declared last quarter earnings on July 27. The Newspapers Publishing company announced last quarter earnings per share of $0.30 against a consensus Street estimate of $0.30, matching the average estimate. The company posted a revenue of $748.8 million compared to an estimation of $787.1 million.
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There are currently six analysts that cover Gannett Co Inc stock. Of those six, three have a Buy rating, three have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $16.
A recent analyst activity consisted of Jefferies reiterating their Hold stance on July 28. Jefferies decreased price target from $15 to $14. This corresponds to a 15.23% upside from the last closing price. On the date of report, the stock closed at $12.74.
Argus Research upgraded their Hold rating to Buy on November 5. On the date of report, the stock closed at $16.37.
Company snapshot
Gannett Co., Inc. is an international news and information company that publishes various daily newspapers in the United States and the United Kingdom, including “USA TODAY” and “USA WEEKEND,” a newspaper magazine. The Company also operates television stations in major United States markets as well as operates websites offering news, information and advertising.
http://www.streetreport.co/why-gannett-co-inc-nysegci-is-an-excellent-choice/52406/
Recent GCI News
- Gannett Announces First Quarter 2024 Results and Reiterates Business Outlook • Business Wire • 05/02/2024 11:00:00 AM
- Gannett Schedules First Quarter 2024 Results • Business Wire • 04/18/2024 11:30:00 AM
- Gannett Announces Nomination of Independent Candidate to Board of Directors • Business Wire • 03/29/2024 12:15:00 PM
- Gannett Announces Further Debt Reduction • Business Wire • 03/26/2024 11:00:00 AM
- LocaliQ Achieves SOC 2 Type II Compliance Certification • Business Wire • 03/12/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/05/2024 09:35:52 PM
- Gannett to Participate at Deutsche Bank 32nd Annual Media, Internet, & Telecom Conference • Business Wire • 03/04/2024 12:30:00 PM
- USA TODAY Announces the 2024 Women of the Year in Honor of Women’s History Month • Business Wire • 02/29/2024 03:07:00 PM
- Monica Richardson Appointed USA TODAY Senior Vice President • Business Wire • 02/23/2024 07:38:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/22/2024 12:15:41 PM
- Gannett Announces 2023 Results and Business Outlook • Business Wire • 02/22/2024 12:00:00 PM
- Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/14/2024 10:37:55 PM
- State Farm Wins USA TODAY’s 36th Annual Ad Meter Competition • Business Wire • 02/12/2024 02:06:00 PM
- Gannett Schedules Fourth Quarter 2023 Results • Business Wire • 02/08/2024 12:30:00 PM
- Gannett Statement Regarding Defamation Verdict • Business Wire • 02/07/2024 07:30:00 PM
- USA TODAY’s 36th Ad Meter Competition Opens • Business Wire • 02/07/2024 05:00:00 PM
- Gannett and Big Ten Conference Announce Media Partnership • Business Wire • 02/01/2024 08:19:00 PM
- USA TODAY NETWORK Ventures Announces 2024 Legends Party With NFL Alumni Legends • Business Wire • 01/24/2024 02:00:00 PM
- Gannett to Present at the 26th Annual Needham Growth Conference • Business Wire • 01/05/2024 12:30:00 PM
- Reviewed Returns to CES with Second Annual AccessABILITY Awards • Business Wire • 12/18/2023 05:00:00 PM
- Gannett Joins LOT Network to Protect Digital Asset Products from Patent Litigation • Business Wire • 12/05/2023 02:00:00 PM
- Gannett Earns Top Score in Human Rights Campaign Foundation’s 2023-2024 Corporate Equality Index • Business Wire • 12/04/2023 02:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 11/20/2023 01:00:35 PM
- Gannett to Participate at the UBS Global Media and Communications Conference • Business Wire • 11/20/2023 12:30:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 11/15/2023 09:30:23 PM
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