Gannett (NYSE:GCI) Upgraded to “Neutral” at Citigroup

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

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

Gannett Stock Performance

NYSE:GCI opened at $5.47 on Tuesday. The stock’s fifty day moving average is $4.75 and its 200 day moving average is $3.73. Gannett has a fifty-two week low of $1.66 and a fifty-two week high of $5.91. The firm has a market capitalization of $807.09 million, a PE ratio of -6.31 and a beta of 2.48. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79.

Gannett (NYSE:GCI) last released its quarterly earnings results on Thursday, August 1st. The company reported $0.19 earnings per share 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 company had revenue of $639.84 million for the quarter.

Hedge Funds Weigh In On Gannett

Hedge funds have recently bought and sold shares of the business. Simplicity Wealth LLC bought a new position in shares of Gannett during the 1st quarter worth $25,000. Cambiar Investors LLC bought a new position in shares of Gannett during the 2nd quarter worth $49,000. Focus Financial Network Inc. ADV bought a new position in shares of Gannett during the 4th quarter worth $25,000. Dark Forest Capital Management LP bought a new position in shares of Gannett during the 2nd quarter worth $57,000. Finally, Sei Investments Co. bought a new position in shares of Gannett during the 2nd quarter worth $64,000. Institutional investors own 76.71% of the company’s stock.

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.