Gannett Co (NYSE:GCI) Stock, Quote.Headers.trade-ideas

Gannett Co

Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S. The group operates in three segments, Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The majority of revenue is from the Domestic Gannett Media segment. The company's brands include USA TODAY and more than 250 daily newspapers as well as digital marketing services companies, including ReachLocal, WordStream, and others. The company produces more than 350 annual events, such as themed expos. The company also operates in the U.K. through the U.K. media company Newsquest, providing more than 150 local media brands.

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Gannett Co Inc

GC INTERNATIONAL INC by GC International, Inc.

JMP Securities analyst Aaron Kimson reiterates Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) with a Market Outperform and maintains $6 price target.

Price Target

Reiteration

Analyst Ratings

JMP Securities Reiterates Market Outperform on Gannett Co, Maintains $6 Price Target

WIIM

Gannett shares are trading lower after the company reported worse-than-expected Q3 financial results.

Guidance

Gannett Says Total Digital Revenues Are Expected To Accelerate With Growth Exceeding 10% YoY And Are Expected To Make Up 50% Of Total Revenues In 2025 And Exceed 55% Of Total Revenues In 2026

Gannett Sees FY24 Total Digital Revenues Growing 6-7% On A Same-Store Bases, Total Revenues Expected Down Low To Mid-Single Digits On Reported And Same Store Basis

Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) reported quarterly losses of $(0.14) per share which missed the analyst consensus estimate of $(0.09) by 55.56 percent. The company reported quarterly sales of $612.439 million which missed the analyst consensus estimate of $635.206 million by 3.58 percent. This is a 6.19 percent decrease over sales of $652.871 million the same period last year.

Earnings

Earnings Misses

Gannett Co Q3 2024 GAAP EPS $(0.14) Misses $(0.09) Estimate, Sales $612.439M Miss $635.206M Estimate

Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) is set to give its latest quarterly earnings report on Thursday, 2024-10-31. Here's what investors need to know before the announcement.
Analysts estimate that Gannett Co will report an earnings per share (EPS) of $-0.07. 
The announcement from Gannett Co is eagerly anticipated, with investors seeking news of surpassing estimates and favorable guidance for the next quarter.
It's worth noting for new investors that guidance can be a key determinant of stock price movements.
<h3>Earnings History Snapshot</h3>
The company's EPS beat by $0.24 in the last quarter, leading to a 5.31% drop in the share price on the following day.
Here's a look at Gannett Co's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>-0.05</td>
<td>-0.36</td>
<td>0.08</td>
<td>-0.01</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.19</td>
<td>-0.26</td>
<td>-0.13</td>
<td>-0.18</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-5.0%</td>
<td>4.0%</td>
<td>4.0%</td>
<td>1.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1730311388_0.png" alt="eps graph" />
<h3>Analyst Observations about Gannett Co</h3>
Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on Gannett Co.
Analysts have provided Gannett Co with 2 ratings, resulting in a consensus rating of Neutral. The average one-year price target stands at $5.1, suggesting a potential 10.21% downside.
<h3>Analyzing Analyst Ratings Among Peers</h3>
This comparison focuses on the analyst ratings and average 1-year price targets of and New York Times, three major players in the industry, shedding light on their relative performance expectations and market positioning.
<ul>
<li>New York Times received a Buy consensus from analysts, with an average 1-year price target of $56.0, implying a potential 885.92% upside.</li>
</ul>
<h3>Overview of Peer Analysis</h3>
In the peer analysis summary, key metrics for and New York Times are highlighted, providing an understanding of their respective standings within the industry and offering insights into their market positions and comparative performance.

<table>
<thead>
<tr>
<th>Company</th>
<th>Consensus</th>
<th>Revenue Growth</th>
<th>Gross Profit</th>
<th>Return on Equity</th>
</tr>
</thead>
<tbody>
<tr>
<td>Gannett Co</td>
<td>Neutral</td>
<td>-4.84%</td>
<td>$248.37M</td>
<td>5.69%</td>
</tr>
<tr>
<td>New York Times</td>
<td>Buy</td>
<td>5.80%</td>
<td>$302.32M</td>
<td>3.69%</td>
</tr>
</tbody>
</table>

Key Takeaway:
Gannett Co has lower revenue growth compared to its peer. It has higher gross profit margin. It has higher return on equity.
<h3>Get to Know Gannett Co Better</h3>
Gannett Co Inc is a digital newspaper company providing local media and marketing solutions in the U.S. The group operates in three segments, Domestic Gannett Media, Newsquest, and Digital Marketing Solutions. The majority of revenue is from the Domestic Gannett Media segment. The company's brands include USA TODAY and more than 250 daily newspapers as well as digital marketing services companies, including ReachLocal, WordStream, and others. The company produces more than 350 annual events, such as themed expos. The company also operates in the U.K. through the U.K. media company Newsquest, providing more than 150 local media brands.
<h3>Gannett Co: Delving into Financials</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Challenges: Gannett Co's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -4.84%. This indicates a decrease in top-line earnings. As compared to competitors, the company encountered difficulties, with a growth rate lower than the average among peers in the Communication Services sector.
Net Margin: Gannett Co's net margin surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 2.15% net margin, the company effectively manages costs and achieves strong profitability.
Return on Equity (ROE): Gannett Co's ROE surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 5.69% ROE, the company effectively utilizes shareholder equity capital.
Return on Assets (ROA): Gannett Co's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.66%, the company showcases efficient use of assets and strong financial health.
Debt Management: Gannett Co's debt-to-equity ratio is below the industry average at 4.96, reflecting a lower dependency on debt financing and a more conservative financial approach.
<a href="https://www.benzinga.com/quote/GCI/earnings">To track all earnings releases for Gannett Co visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Earnings Preview For Gannett Co

U.S. stocks were mixed, with the Dow Jones index falling around 0.2% on Wednesday.
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<li>Gannett Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) gained 6.6% to $5.83.</li>
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U.S. stocks were mixed, with the Dow Jones index gaining around 200 points on Monday.
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<li>Talkspace, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TALK#NASDAQ">TALK</a>) gained 20.9% to $2.31 after the company announced it partnered with Amazon Health Services to increase awareness and discoverability of its services.</li>
<li>Gannett Co., Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) rose 14.5% to $5.28 after Citigroup upgraded the stock from Sell to Neutral.</li>
<li>Gevo, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEVO#NASDAQ">GEVO</a>) surged 14% to $1.5740. Gevo, on Monday, announced it secured a U.S. Patent for the Ethanol to Olefins (ETO) process, strengthening its IP leadership in bio-based renewable fuel and chemical production.</li>
<li>Ginkgo Bioworks Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DNA#NYSE">DNA</a>) gained 12.7% to $7.03. Ginkgo Bioworks launched new Protein LLM and Model API built on Google Cloud Technology.</li>
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<li>GDS Holdings Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDS#NYSE">GDS</a>) gained 10.7% to $17.84.</li>
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Gannett Co shares are trading higher after Citigroup upgraded the stock from Sell to Neutral.

Citigroup analyst Jason Bazinet upgrades Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) from Sell to Neutral and maintains the price target from $5.1 to $5.1.

Upgrades

Citigroup Upgrades Gannett Co to Neutral, Maintains Price Target to $5.1

BetMGM preferred source for sports betting odds across the USA TODAY Network
<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.gannett.com%2F&amp;esheet=54122054&amp;newsitemid=20240916827292&amp;lan=en-US&amp;anchor=Gannett+Co.%2C+Inc.&amp;index=1&amp;md5=6856c1057b6d436c06b32599cd86e30e">Gannett Co., Inc.</a> (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) today announced a multi-year strategic partnership with <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.betmgminc.com%2F&amp;esheet=54122054&amp;newsitemid=20240916827292&amp;lan=en-US&amp;anchor=BetMGM&amp;index=2&amp;md5=a22b7a88f5de76d40e60b1d7e90005d9">BetMGM</a>, a leading sports betting and iGaming operator. As part of the agreement, BetMGM will serve as the preferred online sportsbook and casino partner for <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fsportsbookwire.usatoday.com%2F&amp;esheet=54122054&amp;newsitemid=20240916827292&amp;lan=en-US&amp;anchor=USA+TODAY+Sports&amp;index=3&amp;md5=7f6aeab81a7356ad90464be11b7e25f8">USA TODAY Sports</a> providing sports betting odds and betting information across the expansive <a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=https%3A%2F%2Fsportsdata.usatoday.com%2F&amp;esheet=54122054&amp;newsitemid=20240916827292&amp;lan=en-US&amp;anchor=USA+TODAY+Network&amp;index=4&amp;md5=459d9509a8aefd1ac6ca5da294a9fa77">USA TODAY Network</a> in more than 200 local U.S. markets across 43 states with more than 300 digital news and media brands in the portfolio.
This press release features multimedia. View the full release here: <a href="https://www.businesswire.com/news/home/20240916827292/en/">https://www.businesswire.com/news/home/20240916827292/en/</a>

Gannett and BetMGM Announce Multi-Year Partnership, BetMGM Will Serve As The Preferred Online Sportsbook And Casino Partner For USA TODAY Sports Providing Sports Betting Odds And Betting Information Across The Expansive USA TODAY Network

General

Gannett Expects To Repay Approximately $13M Of Five-year Senior Secured Term Loan Facility, With Real Estate And Non-strategic Asset Sales Of Around $13M

Citigroup analyst Jason Bazinet downgrades Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) from Neutral to Sell and announces $5.1 price target.

Downgrades

Citigroup Downgrades Gannett Co to Sell, Announces $5.1 Price Target

Gannett Says In FY25-FY26 It Expects Total Digital Revenues To Accelerate With Growth Exceeding 10% YoY And Are Expected To Make Up 50% Of Total Revenues In 2025 And Exceed 55% Of Total Revenues In 2026

Gannett Expects FY24 Digital Revenues To Grow ~10%

Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) reported quarterly earnings of $0.09 per share which beat the analyst consensus estimate of $(0.11) by 181.82 percent. The company reported quarterly sales of $639.800 million which missed the analyst consensus estimate of $645.023 million by 0.81 percent. This is a 4.84 percent decrease over sales of $672.357 million the same period last year.

Earnings Beats

Gannett Co Q2 2024 GAAP EPS $0.09 Beats $(0.11) Estimate, Sales $639.800M Miss $645.023M Estimate

Alphabet Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google reversed its long-standing plan to eliminate cookies in its Chrome browser due to industry <a target="_blank" href="https://www.benzinga.com/top-stories/24/07/39895583/google-reverses-course-on-cookie-ban-in-chrome-citing-industry-regulatory-pressure" rel="noreferrer noopener">and regulatory pushback</a>.
Advertisers and publishers use cookies and small text snippets to identify users <a target="_blank" href="https://www.benzinga.com/news/23/12/36252001/google-to-test-feature-restricting-advertisers-cookie-tracking-in-2024" rel="noreferrer noopener">and target ads</a>.
This decision follows objections from digital advertising companies and regulators to Google&#8217;s proposed alternative technologies.
Ad-tech players protested, accusing Google of attempting to strengthen its monopoly in the space and making it more difficult for advertisers to track their ads&#8217; performance.
Instead of eliminating cookies, Google will now prompt Chrome users to decide whether to enable or disable cookies.
This move will keep the internet free and support advertisers relying on cookies to track user data. Websites will continue to display consent boxes for cookies, maintaining the current user experience, CNBC <a target="_blank" href="https://www.cnbc.com/2024/07/23/what-google-decision-to-keep-cookies-means-for-the-internet.html" rel="noreferrer noopener">reports</a>.
Google aims to address industry concerns and maintain advertising effectiveness by keeping cookies. However, regulators like the U.K.&#8217;s Information Commissioner&#8217;s Office expressed disappointment, emphasizing the need for better online privacy protections.
Google&#8217;s decision means that advertisers can continue using valuable data for targeted ads while users have more control over their cookie preferences. Despite this change, the push for greater online privacy remains strong.
Nearly 40.9% of websites worldwide use cookies to collect user data, CNBC cites W3Techs web technology research firm.
Google&#8217;s reversal had a varied impact on ad tech stocks Tuesday. The Trade Desk, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TTD#NASDAQ">TTD</a>), Magnite, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MGNI#NASDAQ">MGNI</a>), DoubleVerify Holdings, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DV#NYSE">DV</a>), Perion Network Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PERI#NASDAQ">PERI</a>), Criteo (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CRTO#NASDAQ">CRTO</a>), and Outbrain Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OB#NASDAQ">OB</a>) stocks gained close to 1%-2%. Digital Turbine, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APPS#NASDAQ">APPS</a>), PubMatic, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PUBM#NASDAQ">PUBM</a>), and Integral Ad Science Holding Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IAS#NASDAQ">IAS</a>) gained 3%-4%.
Publisher stocks, including New York Times Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NYT#NYSE">NYT</a>), News Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWS#NASDAQ">NWS</a>), MarketWise, Inc] (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MKTW#NASDAQ">MKTW</a>), Gannett Co, Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>), and Scholastic Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCHL#NASDAQ">SCHL</a>), are up following the update.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Gannett Co Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) shares were <a href="https://www.benzinga.com/quote/GCI">climbing in early trading on Monday</a>.
The company has several catalysts for digital revenue growth and margin expansion, which should take the stock closer to peer average multiples, according to JMP Securities.
The Gannett Analyst: Matthew Condon initiated coverage of Gannett with a Market Outperform rating and a price target of $6.
The Gannett Thesis: Transitioning from a legacy news business to digital media should help the company to return to growth, Condon said in the initiation note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Gannett expects digital to reach 50% of total revenue in 2025, the analyst stated. "Key initiatives to drive digital revenue growth include its new content strategy, driven by data, optimization of subscription pricing, and product and vertical expansion within its DMS business," he added.
Gannett also has several new initiatives, including affiliate partnerships and data licensing negotiations, which could eventually represent a $100 million opportunity, Condon wrote.
The company is optimizing its cost structure and shifting its focus to high-value subscribers in digital, which is expected to generate a CAGR (compounded annual growth rate) in free cash flows of 40% from 2023 to 2026, he further added.
GCI Price Action: Shares of Gannett had risen by 2.60% to $4.73 at the time of publication on Monday.
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Photo: Casimiro PT via Shutterstock

Analyst Color

Long Ideas

Initiation

Gannett Has 'Several Catalysts For Digital Growth And Margin Expansion,' Says Bullish Analyst

JMP Securities analyst Matthew Condon initiates coverage on Gannett Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) with a Market Outperform rating and announces Price Target of $6.

JMP Securities Initiates Coverage On Gannett Co with Market Outperform Rating, Announces Price Target of $6

U.S. stock futures were mixed this morning, with the Dow futures falling around 50 points on Monday.
Shares of AMC Networks Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMCX#NASDAQ">AMCX</a>) fell sharply in today's pre-market trading after the company announced a private offering of $125 million of convertible senior notes.
AMC Networks shares dipped 9.4% to $14.24 in pre-market trading.
Here are some big stocks recording losses in today's pre-market trading session.
<ul>
<li>Evotec SE (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVO#NYSE">EVO</a>) shares fell 7.7% to $4.20 in pre-market trading.</li>
<li>Absci Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABSI#NASDAQ">ABSI</a>) declined 5.8% to $3.75 in pre-market trading after declining around 9% on Friday.</li>
<li>Humacyte, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUMA#NASDAQ">HUMA</a>) fell 5.7% to $6.65 in pre-market trading.</li>
<li>Absci Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GCI#NYSE">GCI</a>) fell 5.5% to $4.16 in pre-market trading.</li>
<li>ABIVAX Société Anonyme (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ABVX#NASDAQ">ABVX</a>) declined 5.2% to $12.88 in pre-market trading.</li>
<li>Infinera Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INFN#NASDAQ">INFN</a>) shares fell 4.4% to $5.00 in pre-market trading.</li>
<li>Larimar Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRMR#NASDAQ">LRMR</a>) shares fell 4% to $9.02 in pre-market trading.</li>
<li>Louisiana-Pacific Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LPX#NYSE">LPX</a>) shares fell 3% to $89.35 in pre-market trading. Goldman Sachs analyst Susan Maklari downgraded Louisiana-Pacific from Neutral to Sell and lowered the price target from $89 to $81.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/earnings/24/06/39351018/lennar-la-z-boy-and-3-stocks-to-watch-heading-into-monday">Lennar, La-Z-Boy And 3 Stocks To Watch Heading Into Monday</a>
Don't forget to check out our <a href="https://www.benzinga.com/premarket/">premarket coverage here</a>

Pre-Market Outlook

ABSI

ABVX

AMCX

HUMA

INFN

Larimar Therapeutics, Inc. - Common Stock

LRMR

AMC Networks, Louisiana-Pacific And Other Big Stocks Moving Lower In Monday's Pre-Market Session

Press Releases

Gannett Announces Third Quarter 2024 Results & Updated Full Year Outlook

Gannett to Participate at the UBS Global Media and Communications Conference

Inaugural USA TODAY Movie Meter Announced

Gannett and Reuters Launch Bundle Content Offering

REUTERS AND GANNETT LAUNCH BUNDLE CONTENT OFFERING

Gannett Earns Equality 100 Award in Human Rights Campaign Foundation's 2025 Corporate Equality Index

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