During the recent session, Gannett Co. Inc. (NYSE:GCI)’s traded shares were 3.35 million, with the beta value of the company hitting 2.35. At the last check today, the stock’s price was $2.34, reflecting an intraday loss of -27.26% or -$0.87. The 52-week high for the GCI share is $7.05, that puts it down -201.28 from that peak though still a striking -4.7% loss since the share price plummeted to a 52-week low of $2.45. The company’s market capitalization is $465.84M, and the average intraday trading volume over the past 10 days was 0.82 million shares, and the average trade volume was 1.10 million shares over the past three months.
Gannett Co. Inc. (GCI) received a consensus recommendation of a Sell from analysts. That translates to a mean rating of 4.50. GCI has a Sell rating from 2 analyst(s) out of 2 analysts who have looked at this stock. 0 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 0 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.03.
Gannett Co. Inc. (NYSE:GCI) trade information
Gannett Co. Inc. (GCI) registered a -27.26% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -27.26% in intraday trading to $2.34 this Wednesday, 08/03/22, hitting a weekly high. The stock’s 5-day price performance is 7.72%, and it has moved by 12.63% in 30 days. Based on these gigs, the overall price performance for the year is -42.37%. The short interest in Gannett Co. Inc. (NYSE:GCI) is 16.1 million shares and it means that shorts have 13.36 day(s) to cover.
The consensus price target of analysts on Wall Street is $3.58, which implies an increase of 34.64% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $2.65 and $4.50 respectively. As a result, GCI is trading at a discount of -92.31% off the target high and -13.25% off the low.
Gannett Co. Inc. (GCI) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -70.00% this quarter and then jump 88.90% in the quarter after that. In the rating firms’ projections, revenue will decrease -2.60% compared to the previous financial year.
Revenue for the current quarter is expected to be $788.1 million as predicted by 1 analyst(s). Meanwhile, a consensus of 1 analyst(s) estimates revenue growth to $789.1 million by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $804.27 million and $817.6 million respectively. In this case, analysts expect current quarter sales to shrink by -2.00% and then drop by -3.50% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -28.00%. While earnings are projected to return 80.30% in 2022.
Gannett Co. Inc. is due to release its next quarterly earnings on August 04. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.
Gannett Co. Inc. (NYSE:GCI)’s Major holders
Gannett Co. Inc. insiders own 8.15% of total outstanding shares while institutional holders control 68.79%, with the float percentage being 74.89%. Blackrock Inc. is the largest shareholder of the company, while 261 institutions own stock in it. As of Mar 30, 2022, the company held over 22.81 million shares (or 15.56% of all shares), a total value of $53.5 million in shares.
The next largest institutional holding, with 9.89 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 6.74% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $23.18 million.
Also, the Mutual Funds coming in first place with the largest holdings of Gannett Co. Inc. (GCI) shares are iShares Core S&P Smallcap ETF and Vanguard Total Stock Market Index Fund. Data provided on Jun 29, 2022 indicates that iShares Core S&P Smallcap ETF owns about 10.22 million shares. This amounts to just over 6.97 percent of the company’s overall shares, with a $23.97 million market value. The same data shows that the other fund manager holds slightly less at 4.06 million, or about 2.77% of the stock, which is worth about $9.53 million.