Gannett Co Inc (GCI) Formed a Bullish Inverse H&S Chart Pattern, Could Be One of The Best Performers Soon

September 17, 2017 - By Henry Gaston

Investors sentiment increased to 0.5 in 2016 Q4. Its up 0.50, from 0 in 2016Q3. It is positive, as 1 investors sold Gannett Co Inc shares while 1 reduced holdings. 0 funds opened positions while 1 raised stakes. 76,812 shares or 21.80% less from 98,222 shares in 2016Q3 were reported.
63,910 are owned by Gulf Bancshares (Uk) Ltd. Gemmer Asset Ltd Liability Corp, a California-based fund reported 566 shares. Marshwinds Advisory has invested 0.13% in Gannett Co Inc (NYSE:GCI).

The stock of Gannett Co Inc (GCI) formed H&SI with $8.75 price target or 4.00 % above the current $8.41 share price. The 5 months Head & Shoulders Inverse reveals low risk for the $956.18 million company. This trade was featured by Faxor.com on Sep, 17. If the $8.75 target price is reached, the company’s valuation will be $38.25M more.
Inverse Head-and-shoulders are some of the best chart patterns to trade. These formations work as in bear as in bull markets and many researchers states that they have very low failure rates. Despite the high pullback rate, these trading patterns are usually good places to trade based on their risk-reward profile. Industry experts’s backtests show that 55% of these patterns reach their targets.

The stock increased 0.96% or $0.08 on September 15, reaching $8.41. About 1.47M shares traded or 60.42% up from the average. Gannett Co Inc (NYSE:GCI) has declined 53.54% since September 17, 2016 and is downtrending. It has underperformed by 70.24% the S&P500.

Wall Street await Gannett Co Inc (NYSE:GCI) to release earnings on October, 26. Analysts forecast EPS of $0.13, up exactly $0.07 or 116.67 % from 2014’s $0.06 EPS. The expected GCI’s profit could reach $14.78M giving the stock 16.17 P/E in the case that $0.13 earnings per share is reported. After posting $0.18 EPS for the previous quarter, Gannett Co Inc’s analysts now forecast -27.78 % negative EPS growth.

Gannett Co Inc (NYSE:GCI) Ratings Coverage

Among 6 analysts covering Gannett (NYSE:GCI), 2 have Buy rating, 0 Sell and 4 Hold. Therefore 33% are positive. Gannett had 11 analyst reports since September 1, 2015 according to SRatingsIntel. The rating was initiated by Argus Research with “Hold” on Friday, September 4. On Wednesday, November 2 the stock rating was maintained by Noble Financial with “Buy”. As per Tuesday, September 8, the company rating was initiated by Argus Research. The stock of Gannett Co Inc (NYSE:GCI) has “Hold” rating given on Monday, February 13 by Argus Research. The company was maintained on Monday, November 2 by JP Morgan. The rating was maintained by with “Hold” on Monday, October 10. The rating was downgraded by Zacks to “Hold” on Tuesday, September 1. The stock of Gannett Co Inc (NYSE:GCI) earned “Hold” rating by Jefferies on Monday, July 11. The firm earned “Buy” rating on Wednesday, October 7 by Cantor Fitzgerald. The stock of Gannett Co Inc (NYSE:GCI) earned “Buy” rating by Argus Research on Thursday, November 5.

More news for Gannett Co Inc (NYSE:GCI) were recently published by: Bizjournals.com, which released: “More newspaper job cuts at Gannett” on September 08, 2017. Zacks.com‘s article titled: “Is Gannett Co. (GCI) be a Great Stock for Value Investors?” and published on August 30, 2017 is yet another important article.

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