Citigroup Upgrades Gannett (NYSE:GCI) to Neutral

Gannett (NYSE:GCI) was upgraded by research analysts at Citigroup from a “sell” rating to a “neutral” rating in a note issued to investors on Friday, Briefing.com reports. The brokerage currently has a $3.60 target price on the stock, up from their previous target price of $1.95. Citigroup’s price target would suggest a potential upside of 4.35% from the company’s previous close.

Gannett Trading Up 1.5 %

Shares of NYSE:GCI opened at $3.45 on Friday. Gannett has a 1 year low of $1.66 and a 1 year high of $3.79. The firm has a market capitalization of $509.05 million, a price-to-earnings ratio of -3.97 and a beta of 2.30. The company has a debt-to-equity ratio of 4.16, a current ratio of 0.79 and a quick ratio of 0.75. The business’s 50 day moving average price is $2.69 and its 200-day moving average price is $2.37.

Gannett (NYSE:GCI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.26) earnings per share for the quarter. The firm had revenue of $635.76 million during the quarter. Gannett had a negative net margin of 4.67% and a negative return on equity of 27.67%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GCI. Vanguard Personalized Indexing Management LLC purchased a new position in Gannett in the 3rd quarter valued at $25,000. Simplicity Wealth LLC acquired a new stake in Gannett during the first quarter worth about $25,000. Focus Financial Network Inc. ADV acquired a new stake in Gannett during the fourth quarter worth about $25,000. Principal Financial Group Inc. raised its stake in Gannett by 39.3% during the third quarter. Principal Financial Group Inc. now owns 21,258 shares of the company’s stock worth $52,000 after purchasing an additional 5,997 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in Gannett by 108.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 29,008 shares of the company’s stock valued at $67,000 after purchasing an additional 15,066 shares during the last quarter. Hedge funds and other institutional investors own 76.71% of the company’s stock.

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.