During the last session, Gannett Co Inc. (NYSE:GCI)’s traded shares were 2.23 million, with the beta value of the company hitting 2.49. At the end of the trading day, the stock’s price was $5.44, reflecting an intraday loss of -5.88% or -$0.34. The 52-week high for the GCI share is $5.91, that puts it down -8.64 from that peak though still a striking 69.49% gain since the share price plummeted to a 52-week low of $1.66. The company’s market capitalization is $802.94M, and the average intraday trading volume over the past 10 days was 1.66 million shares, and the average trade volume was 1.53 million shares over the past three months.
Gannett Co Inc. (GCI) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 3.00. GCI has a Sell rating from 0 analyst(s) out of 2 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 1 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 -0.09.
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Gannett Co Inc. (NYSE:GCI) trade information
Gannett Co Inc. (GCI) registered a -5.88% downside in the last session and has traded in the green over the past 5 sessions. The stock plummet -5.88% in intraday trading to $5.44, hitting a weekly high. The stock’s 5-day price performance is 9.68%, and it has moved by 12.40% in 30 days. Based on these gigs, the overall price performance for the year is 89.55%. The short interest in Gannett Co Inc. (NYSE:GCI) is 13.92 million shares and it means that shorts have 9.28 day(s) to cover.
The consensus price target of analysts on Wall Street is $5.55, which implies an increase of 1.98% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $5.1 and $6 respectively. As a result, GCI is trading at a discount of -10.29% off the target high and 6.25% off the low.
Gannett Co Inc. (GCI) estimates and forecasts
Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to shrink -350.00% this quarter and then jump 106.20% in the quarter after that. In the rating firms’ projections, revenue will decrease -3.20% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 635.21M as predicted by 4 analyst(s). Meanwhile, a consensus of 4 analyst(s) estimates revenue growth to 666.24M by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 652.87M and 669.4M respectively. In this case, analysts expect current quarter sales to shrink by -2.70% and then drop by -0.50% in the coming quarter.
While earnings are projected to return -116.25% in 2024.
GCI Dividends
Gannett Co Inc. is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. The average dividend yield of the company for the last 5 years is 18.87%.
Gannett Co Inc. (NYSE:GCI)’s Major holders
Gannett Co Inc. insiders own 9.46% of total outstanding shares while institutional holders control 74.76%, with the float percentage being 82.57%. APOLLO MANAGEMENT HOLDINGS, L.P. is the largest shareholder of the company, while 214.0 institutions own stock in it. As of 2024-06-30, the company held over 13.17 million shares (or 9.3524% of all shares), a total value of $60.69 million in shares.
The next largest institutional holding, with 13.15 million shares, is of ALTA FUNDAMENTAL ADVISERS LLC’s that is approximately 9.3387% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $60.61 million.
