Gannett (NYSE:GCI) Upgraded to Neutral by Citigroup

Gannett (NYSE:GCI) was upgraded by equities researchers at Citigroup from a “sell” rating to a “neutral” rating in a report released on Tuesday, MarketBeat.com reports. The brokerage currently has a $5.10 price target on the stock. Citigroup’s price target points to a potential downside of 9.17% from the stock’s previous close.

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

Gannett Stock Performance

GCI opened at $5.62 on Tuesday. The company has a debt-to-equity ratio of 3.83, a quick ratio of 0.75 and a current ratio of 0.79. The company has a market cap of $828.48 million, a PE ratio of -6.45 and a beta of 2.48. The stock has a 50-day moving average of $4.79 and a 200-day moving average of $3.77. Gannett has a 52-week low of $1.66 and a 52-week high of $5.93.

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

Institutional Investors Weigh In On Gannett

Several institutional investors have recently modified their holdings of GCI. Simplicity Wealth LLC bought a new stake in shares of Gannett in the 1st quarter valued at about $25,000. Cambiar Investors LLC bought a new position in Gannett during the 2nd quarter worth approximately $49,000. Focus Financial Network Inc. ADV acquired a new position in Gannett during the fourth quarter valued at approximately $25,000. Dark Forest Capital Management LP bought a new stake in Gannett in the second quarter valued at approximately $57,000. Finally, Sei Investments Co. acquired a new stake in Gannett in the second quarter worth $64,000. Institutional investors and hedge funds own 76.71% of the company’s stock.

About Gannett

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.