The stock of Gannett Co Inc (NYSE:GCI) reached all time low today, Oct, 28 and still has $7.38 target or 6.00% below today’s $7.85 share price. This indicates more downside for the $758.67M company. This technical setup was reported by Barchart.com. If the $7.38 PT is reached, the company will be worth $45.52 million less.
Trading stocks at an all time low is not easy. Stock at an all time low usually experience even more downside due to very negative fundament. Even thought the pullback rate is high, shorting is not an easy job because the risk of being wrong is big and the risk-reward ratio is always worse than if trading lon only. About 2.48M shares traded hands or 166.09% up from the average. Gannett Co Inc (NYSE:GCI) has declined 45.56% since March 28, 2016 and is downtrending. It has underperformed by 50.27% the S&P500.
Analysts await Gannett Co Inc (NYSE:GCI) to report earnings on November, 3. They expect $0.16 EPS, down 62.79% or $0.27 from last year’s $0.43 per share. GCI’s profit will be $15.46M for 12.27 P/E if the $0.16 EPS becomes a reality. After $0.30 actual EPS 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 firm earned “Buy” rating on Thursday, November 5 by Argus Research. The rating was maintained by with “Hold” on Monday, October 10. The firm earned “Buy” rating on Wednesday, October 7 by Cantor Fitzgerald. Argus Research initiated the shares of GCI in a report on Friday, September 4 with “Hold” rating. The firm earned “Hold” rating on Tuesday, September 1 by Zacks. Argus Research initiated the shares of GCI in a report on Tuesday, September 8 with “Hold” rating. The stock of Gannett Co Inc (NYSE:GCI) earned “Hold” rating by Jefferies on Monday, July 11. JP Morgan maintained Gannett Co Inc (NYSE:GCI) rating on Monday, November 2. JP Morgan has “Neutral” rating and $16 price target.
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 Mngmt Lc has invested 0.01% in Gannett Co Inc (NYSE:GCI). Leavell Investment Mgmt Inc owns 14,900 shares or 0.03% of their US portfolio. Mutual Of Omaha Financial Bank Wealth Mgmt holds 0.08% of its portfolio in Gannett Co Inc (NYSE:GCI) for 8,245 shares. Marshwinds Advisory Co owns 12,836 shares or 0.14% of their US portfolio. Moreover, Covington Capital Mgmt has 0.06% invested in Gannett Co Inc (NYSE:GCI) for 48,009 shares. Gulf Int National Bank (Uk) holds 0.02% or 63,910 shares in its portfolio. Huntington Savings Bank last reported 0.01% of its portfolio in the stock.
More important recent Gannett Co Inc (NYSE:GCI) news were published by: Fool.com which released: “Why Shares of Gannett Co. Inc. Just Got Crushed” on October 27, 2016, also Marketwatch.com published article titled: “USA Today-owner Gannett Co. reports Q3 loss, better-than-expected revenue”, Jsonline.com published: “Gannett to reduce workforce” on October 24, 2016. More interesting news about Gannett Co Inc (NYSE:GCI) was released by: Twst.com and their article: “Gannett Co. Inc.: Gannett Acquires Golfweek” with publication date: 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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