In last trading session, Gannett Co. Inc. (NYSE:GCI) saw 2.13 million shares changing hands with its beta currently measuring 2.42. Company’s recent per share price level of $2.66 trading at -$0.27 or -9.22% at ring of the bell on the day assigns it a market valuation of $403.79M. That closing price of GCI’s stock is at a discount of -35.34% from its 52-week high price of $3.60 and is indicating a premium of 53.01% from its 52-week low price of $1.25. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 0.8 million shares which gives us an average trading volume of 1.79 million if we extend that period to 3-months.
For Gannett Co. Inc. (GCI), analysts’ consensus is at an average recommendation of a Sell while assigning it a mean rating of 4.50. Splitting up the data highlights that, out of 2 analysts covering the stock, 2 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 0 suggested the stock as a Hold whereas 0 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.01 in the current quarter.
Gannett Co. Inc. (NYSE:GCI) trade information
Upright in the red during last session for losing -9.22%, in the last five days GCI remained trading in the red while hitting it’s week-highest on Thursday, 09/14/23 when the stock touched $2.66 price level, adding 10.14% to its value on the day. Gannett Co. Inc.’s shares saw a change of 31.03% in year-to-date performance and have moved -2.21% in past 5-day. Gannett Co. Inc. (NYSE:GCI) showed a performance of -18.40% in past 30-days. Number of shares sold short was 14.91 million shares which calculate 13.28 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $2.65 to the stock, which implies a fall of -0.38% to its current value. Analysts have been projecting $2.30 as a low price target for the stock while placing it at a high target of $3.00. It follows that stock’s current price would drop -12.78% in reaching the projected high whereas dropping to the targeted low would mean a gain of 13.53% for stock’s current value.
Gannett Co. Inc. (GCI) estimates and forecasts
The company is estimating its revenue growth to increase by 90.00% in the current quarter and calculating -17.60% decrease in the next quarter. This year revenue growth is estimated to fall -7.70% from the last financial year’s standing.
1 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $660.4 million for the same. And 1 analysts are in estimates of company making revenue of $680.7 million in the next quarter that will end on Dec 2023. Company posted $745.5 million and $730.66 million of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -11.40% while estimating it to be -6.80% for the next quarter.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -42.60% during past 5 years.
Gannett Co. Inc. is more likely to be releasing its next quarterly report between November 01 and November 06 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Gannett Co. Inc. (NYSE:GCI)’s Major holders
Insiders are in possession of 8.99% of company’s total shares while institution are holding 74.66 percent of that, with stock having share float percentage of 82.04%. Investors also watch the number of corporate investors in a company very closely, which is 74.66% institutions for Gannett Co. Inc. that are currently holding shares of the company. Alta Fundamental Advisers LLC is the top institutional holder at GCI for having 13.15 million shares of worth $29.58 million. And as of Jun 29, 2023, it was holding 8.82% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 10.17 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 6.82% of outstanding shares, having a total worth of $22.89 million.
On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 4.64 million shares of worth $10.44 million or 3.11% of the total outstanding shares. The later fund manager was in possession of 3.34 million shares on Jul 30, 2023, making its stake of worth around $9.41 million in the company or a holder of 2.24% of company’s stock.