Gannett (NYSE:GCI) Upgraded to Neutral by Citigroup

Citigroup upgraded shares of Gannett (NYSE:GCI) from a sell rating to a neutral rating in a research note released on Tuesday morning, MarketBeat reports. The brokerage currently has $5.10 price objective on the stock.

Separately, JMP Securities raised Gannett to a strong-buy rating in a research report on Friday, August 2nd.

Gannett Stock Performance

Shares of GCI stock opened at $5.22 on Tuesday. The business’s fifty day simple moving average is $4.82 and its 200-day simple moving average is $3.80. The company has a market cap of $770.20 million, a PE ratio of -6.00 and a beta of 2.48. The company has a current ratio of 0.79, a quick ratio of 0.75 and a debt-to-equity ratio of 3.83. Gannett has a 12-month low of $1.66 and a 12-month high of $5.93.

Gannett (NYSE:GCI) last released its earnings results on Thursday, August 1st. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.25. Gannett had a negative return on equity of 17.12% and a negative net margin of 3.71%. The firm had revenue of $639.84 million for the quarter.

Institutional Investors Weigh In On Gannett

Several hedge funds have recently added to or reduced their stakes in GCI. Simplicity Wealth LLC purchased a new stake in Gannett in the first quarter valued at $25,000. Focus Financial Network Inc. ADV purchased a new stake in Gannett in the fourth quarter valued at $25,000. Cambiar Investors LLC purchased a new stake in Gannett in the second quarter valued at $49,000. Dark Forest Capital Management LP purchased a new stake in Gannett in the second quarter valued at $57,000. Finally, Sei Investments Co. purchased a new stake in Gannett in the second quarter valued at $64,000. 76.71% of the stock is owned by hedge funds and other institutional investors.

Gannett Company Profile

Gannett Co, Inc operates as a media and marketing solutions company in the United States. It operates through three segments: Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The company's print offerings includes home delivery on a subscription basis; single copy; non-daily publications, such as shoppers and niche publications.