The stock of Gannett Co Inc (NYSE:GCI) hit a new 52-week low and has $9.96 target or 9.00% below today’s $10.94 share price. The 7 months bearish chart indicates high risk for the $1.27B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $9.96 price target is reached, the company will be worth $114.30 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 232,851 shares traded hands. Gannett Co Inc (NYSE:GCI) has declined 27.76% since March 10, 2016 and is downtrending. It has underperformed by 35.28% the S&P500.
Analysts await Gannett Co Inc (NYSE:GCI) to report earnings on November, 3. They expect $0.16 earnings per share, down 62.79% or $0.27 from last year’s $0.43 per share. GCI’s profit will be $18.57M for 17.09 P/E if the $0.16 EPS becomes a reality. After $0.30 actual earnings per share reported by Gannett Co Inc for the previous quarter, Wall Street now forecasts -46.67% negative EPS growth.
Gannett Co Inc (NYSE:GCI) Ratings Coverage
Out of 5 analysts covering Gannett (NYSE:GCI), 2 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 40% are positive. Gannett has been the topic of 9 analyst reports since September 1, 2015 according to StockzIntelligence Inc. The stock of Gannett Co Inc (NYSE:GCI) earned “Hold” rating by Argus Research on Friday, September 4. Jefferies maintained Gannett Co Inc (NYSE:GCI) rating on Monday, July 11. Jefferies has “Hold” rating and $15 price target. On Monday, November 2 the stock rating was maintained by JP Morgan with “Neutral”. The firm has “Hold” rating given on Tuesday, September 1 by Zacks. The firm has “Hold” rating by given on Monday, October 10. As per Tuesday, September 8, the company rating was initiated by Argus Research. Argus Research upgraded the stock to “Buy” rating in Thursday, November 5 report. As per Wednesday, October 7, the company rating was initiated by Cantor Fitzgerald.
According to Zacks Investment Research, “Gannett owns the publishing assets of the legacy Gannett company following its June 2015 split into two publicly traded companies – a broadcasting and digital company called TEGNA (Ticker: TGNA) and a publishing company called Gannett. The new Gannett owns the USA Today and a host of other media assets.”
Insitutional Activity: The institutional sentiment decreased to 1.5 in 2016 Q2. Its down 2.50, from 4 in 2016Q1. The ratio is negative, as 1 funds sold all Gannett Co Inc shares owned while 1 reduced positions. 2 funds bought stakes while 1 increased positions. They now own 157,915 shares or 45.06% less from 287,452 shares in 2016Q1.
The California-based Gemmer Asset Mgmt Ltd Llc has invested 0.01% in Gannett Co Inc (NYSE:GCI). Covington Mgmt accumulated 48,009 shares or 0.06% of the stock. Mutual Of Omaha National Bank & Trust Wealth Mgmt reported 8,245 shares or 0.08% of all its holdings. Huntington Retail Bank has invested 0.01% of its portfolio in Gannett Co Inc (NYSE:GCI). Leavell Investment Management has 0.03% invested in the company for 14,900 shares. Gulf Comml Bank (Uk) Limited last reported 0.02% of its portfolio in the stock. Marshwinds Advisory Communication, a Georgia-based fund reported 12,836 shares.
Another recent and important Gannett Co Inc (NYSE:GCI) news was published by Businesswire.com which published an article titled: “Gannett Acquires Golfweek” on October 05, 2016.
GCI Company Profile
Gannett Co., Inc., incorporated on November 21, 2014, is an international, multi-platform news and information company. The Firm is a local content well-known provider in the United States, operating in over 30 states and Guam. The Company’s activities comprise approximately 110 daily publications and digital platforms in the United States and the United Kingdom, over 400 non-daily publications in the United States, and approximately 150 such titles in the United Kingdom. The Company’s daily publications in the United States include USA TODAY. Together with over 20 daily paid-for publications, its Newsquest division operates in the United Kingdom. In the markets it serves, the Company also operates desktop, smartphone and tablet products, which are integrated with publishing operations. The Company’s activities also include commercial printing, marketing and data services operations.
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