10.78 0.00 (0.00%)
After hours: 5:31PM EST
|Bid||0.00 x 3100|
|Ask||11.50 x 3000|
|Day's Range||10.63 - 10.86|
|52 Week Range||8.37 - 11.99|
|Beta (3Y Monthly)||1.81|
|PE Ratio (TTM)||82.29|
|Earnings Date||Feb 18, 2019 - Feb 22, 2019|
|Forward Dividend & Yield||0.64 (5.69%)|
|1y Target Est||11.75|
A hostile takeover bid for America’s largest newspaper group Gannett Co. by Digital First Media has taken a political turn, with the highest-ranking Senate Democrat demanding the potential acquirer explain its plans if a deal goes through. In a letter to the president of Alden Global Capital LLC, the hedge fund behind MNG Enterprises Inc.—as Digital First is officially known—Senate Minority Leader Chuck Schumer (D, N.Y.) said he was troubled by the company’s history of slashing jobs and selling real-estate assets at its other properties. “I am concerned that MNG has been unwilling to publicly provide relevant details regarding the proposed acquisition,” Mr. Schumer wrote.
Gannett Co., which is facing a takeover bid, reported a wider loss for its latest quarter as advertisers continued to turn away from print media and circulation revenue fell. Last month, MNG Enterprises Inc., better known as Digital First Media, offered to purchase Gannett for $12 a share—valuing the publisher at $1.36 billion—after building up a stake in the company. Gannett rejected the offer, calling it inadequate and setting off a fight over control of the publisher of USA Today and about 100 other publications, including newspapers in Detroit, Phoenix and Louisville, Ky.
Gannett earnings for the fourth quarter of 2018 were hitting GCI stock on Wednesday.Source: Shutterstock Gannett (NYSE:GCI) starts off its earnings report for the fourth quarter of the year with earnings per share of 44 cents. This is a drop from the company's earnings per share of 55 cents from the same period of the year prior. It was also a blow to GCI stock by coming in below Wall Street's earnings per share estimate of 46 cents for the quarter.Net loss in the Gannett earnings report for the fourth quarter of 2018 comes in at $14.24 million. The publishing company's net loss from the fourth quarter of 2017 was $13.59 million.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThe Gannett earnings report for the fourth quarter of the year also includes an operating loss of $2.53 million. This is down from the company's operating income of $44.26 million reported during the same time last year.Gannett earnings report for the fourth quarter of 2018 also sees revenue coming in at $751.41 million. This is a decrease from the company's revenue of $854.24 million reported in the fourth quarter of the previous year. It was also bad news for GCI stock by missing analysts' revenue estimate of $764.13 million for the period. * 10 Smart Money Stocks to Buy Now The most recent Gannett earnings report also includes its outlook for the full year of 2019. This has revenue for the year ranging from $2.74 billion to $2.81 billion. That's another strike for GCI stock with Wall Street estimating revenue of $2.86 billion in 2019.GCI stock was down 3% as of noon Wednesday. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * The 10 Best Cheap Stocks to Buy Right Now * 5 Stocks Under $5 to Buy Before They Soar * 5 Consumer Stocks to Cash Out Of As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Gannett Earnings: GCI Stock Falls on Q4 Earnings Miss appeared first on InvestorPlace.
shares fell nearly 4% on Wednesday morning after the company missed fourth quarter earnings and revenues estimates as newspapers struggle to stay afloat. The largest newspaper publisher in the U.S. and parent company of USA Today and the Detroit Free Press is the subject of a hostile takeover by MNG Enterprises Inc. The media giant reported a fourth quarter net loss of $14.2 million, or 13 cents a share.
The McLean, Virginia-based company said it had a loss of 13 cents per share. Earnings, adjusted for one-time gains and costs, were 44 cents per share. The newspaper publisher posted revenue of $751.4 million ...
USA Today parent Gannett Co. Inc. said Wednesday it had a net loss of $14.2 million, or 13 cents a share, in the fourth quarter, wider than the $13.6 million, or 12 cents a share, loss posted in the year-earlier period, weighed down by restructuring and asset impairment costs. Adjusted per-share earnings came to 44 cents, below the 51 cents FactSet consensus. Revenue fell to $751.4 million from $854.2 million, also below the FactSet consensus of $768 million. Digital revenue came to $272.3 million, or about 36% of total revenue. Digital ad and marketing services revenue came to $204.5 million, or 48% of total ad and marketing service revenue. The company is now expecting 2019 revenue of $2.740 billion to $2.810 billion, compared with a current FactSet consensus of $2.874 billion. Shares were up 0.8% premarket and have gained 12.9% in the last 12 months, while the S&P 500 has gained 2.3%.
MNG Enterprises, Inc. (“MNG”), which owns 7.5% of the outstanding shares of Gannett Co., Inc. (GCI) (“Gannett” or “the “Company”), is urging Gannett shareholders to read MNG’s January 14 letter to Gannett and, on the Company’s earnings call at 10:00 AM today, to demand answers to the still unanswered questions about the Company’s recent actions and path forward.
On Wednesday, Feb. 20, Gannett (NYSE: GCI ) will release its latest earnings report. Benzinga's report can help you figure out the ins and outs of the earnings release. Earnings and Revenue Sell-side analysts ...
Cannell Capital Wages “Vote No” Campaign for February 20 Shareholder Meeting By John Jannarone While none are up for election, the director candidates Carlo Cannell’s Cannell Capital suggested for the board of Lee Enterprises have strong backgrounds in precisely the areas where the regional newspaper operator could use some advice, CorpGov has learned through interviews […]
USA TODAY, part of Gannett Co., Inc. (GCI), today launched “Oscars AR: The costumes and creators,” its first entertainment augmented reality (AR) experience ahead of the 91st Academy Awards, offering audiences a unique up-close and personal look at the costume designs and their creators from major nominated films. The collaboration between the award-winning USA TODAY emerging technology team and USA TODAY Life team gives viewers exclusive and direct access to hear from Oscar-nominated designers from “Mary Poppins Returns,” “The Favourite,” “Mary Queen of Scots,” “Bohemian Rhapsody,” “Black Panther” and “BlacKkKlansman.” USA TODAY worked directly with each of the designers to tell the story of their costumes and their experiences on set, with an interactive, 360-degree look at the pieces through AR.
NEW YORK, Feb. 13, 2019 -- In new independent research reports released early this morning, Market Source Research released its latest key findings for all current investors,.
Gannett Co. said it continues to find a takeover proposal from Digital First Media inadequate after meeting with representatives from the hedge-fund backed newspaper chain last week. The meeting came after Gannett, one of the nation’s largest newspaper chains and publisher of USA Today, rejected the offer from Digital First, also known as MNG Enterprises Inc., to buy it for $1.4 billion, or $12 a share. Concurrently, Digital First, which is one of Gannett’s largest shareholders with about a 7.5% stake, is also waging a proxy fight.
Gannett Co., Inc. today announced that it will report 2018 fourth quarter financial results before the market opens on Wednesday, February 20, 2019. Robert Dickey, Chief Executive Officer, and Alison Engel, Chief Financial Officer, will host a conference call and webcast to discuss the company’s financial results at 10:00 a.m.
Gannett Co., Inc. (GCI) (“Gannett” or “company”) today described the February 7, 2019, meeting where representatives of Gannett, including two of Gannett’s independent directors, and its financial and legal advisors met with MNG Enterprises, Inc. (“MNG”).
When I wrote about The New York Times Co. (NYSE:NYT) here in 2011, the newspaper publisher was floundering so badly that only family ties kept then-Chairman Arthur Sulzberger in his job running the business his great-grandfather Adolf S. Ochs acquired in 1896. NYT stock had at that point lost 84% of its value under Sulzberger's leadership."If Arthur Sulzberger were named Arthur Smith there is no way that he would be running New York Times," I wrote in December 2011, "or any other publicly traded company for that matter."While my commentary then seems overly harsh now, keep in mind that the newspaper publisher that President Donald Trump wrongly describes as "failing" was in a world of hurt at the time thanks to the digital revolution. NYT's balance sheet was also weighed down with assets the company wound up selling at steep losses including the Boston Globe. InvestorPlace - Stock Market News, Stock Advice & Trading TipsNew York Times stock missed the dotcom bubble, slumping nearly 90% between 1996 and 2011. The publisher reported a loss of $39.7 million in 2011. Making Readers Pay Paid OffHowever, 2011 also saw the New York Times make a move that continues to reap dividends today, namely charging readers to access its websites. Many newspapers gave away their content for free on the internet at the time, a move they have regretted ever since then. Getting people to pay for something they previously got for free is the hardest thing for any business to do. It's a lesson that many online news sites are still learning. * 7 Reasons You Want Boeing Stock in Your Portfolio In the intervening seven-plus years, NYT stock has increased 362% in value, compared to the S&P 500 index's 92% gain.As of the most recent quarter, The New York Times -- now under a new generation of Sulzberger family leadership -- had a total of 3.4 million net digital subscriptions, an increase of more than 27% from the same time period a year ago. Of those 265,000 additions, 172,000 came from its digital news product with the remainder coming from NYT's Cooking and Crossword offerings. Digital-only subscription revenue jumped 9.3% to $105.3 million during the quarterNYT has also wisely limited its exposure to so-called programmatic automated advertising auctions that tend to drive down ad prices. As a result, the publisher's digital advertising exceeded print advertising for the first time ever during the quarter. Digital revenue grew an impressive 23% on a year-over-year basis. Setting Ambitious GoalsIn 2015, NYT set the ambitious goal of doubling the company's digital revenue from around $400 million to $800 million by the end of 2020. As of the end of last year, the company generated $709 million in digital revenue. The company has set a new target to reach 10 million digital subscribers by 2025, more than double its current level of 3.4 million. * The 9 Best Stocks to Invest In During a Manic Market NYT is in better shape than rivals such as Gannett (NYSE:GCI) and upstarts such as BuzzFeed that find themselves hostages of Facebook (NYSE:FB) and Alphabet (NASDAQ:GOOGL) unit Google's dominance of the online ad market. Unlike many other news organizations, The New York Times is hiring journalists, not laying them off. The company's news operations employed 1,600 as of the end of last year, the most ever. Overall, NYT looks to be in pretty good financial shape. The New York-based company reported fourth-quarter net income of $55.2 million, or 33 cents per share, reversing a loss from a year earlier of $56.8 million, or 35 cents a year earlier. Overall revenue jumped 3.8% to $502.8 million. Still, NYT Stock is No BargainTo be sure, its hard to call NYT stock a value play. The shares have surged more than 30% since the start of the year and are trading near their average 52-week price target of $29. Though its forward P/E multiple is a tech-level 34x, I wouldn't bet against New York Times stock at this point, particularly as Washington, D.C. sinks further into a dysfunctional mess. I would, however, hold off buying NYT stock until there is a dip in the share price.As of this writing, Jonathan Berr doesn't own shares of any of the aforementioned stocks. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Monster Growth Stocks to Buy for 2019 and Beyond * 7 Cloud Stocks To Buy Now * 5 Undervalued Stocks to Invest In Compare Brokers The post Failing? New York Times Stock Gains On Surprisingly Good News For Holders appeared first on InvestorPlace.
It’s tough times in travel media, and the latest round of layoffs at newspaper titan Gannett has led to USA Today firing the bulk of its travel section staff. And with that, one of the last U.S. newspapers providing quality consumer travel content is gone. “We still have four staffers completely dedicated to travel,” wrote Chrissy […] The post The Long, Sad Collapse of USA Today Travel appeared first on Skift.
Cannell Capital Wages “Vote No” Campaign Against 3 Directors Including Chairman By John Jannarone Cannell Capital’s Carlo Cannell believes he is doing regional newspaper company Lee Enterprises a service by urging shareholders to vote against the three board directors up for election next month, including Chairman Mary Junck, he told CorpGov in an interview. […]