|Bid||8.00 x 4000|
|Ask||11.50 x 1800|
|Day's Range||11.19 - 11.37|
|52 Week Range||8.37 - 11.99|
|Beta (3Y Monthly)||1.81|
|PE Ratio (TTM)||86.34|
|Earnings Date||Feb 20, 2019|
|Forward Dividend & Yield||0.64 (5.66%)|
|1y Target Est||11.92|
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. […]
Gannett, the publisher of USA Today, earlier this week rejected the local newspaper owner’s $12-per-share takeover bid, saying it was too low and lacked key commitments on financing and antitrust. In response to that rebuff, MNG — which is controlled by hedge fund Alden Global Capital and better known as Digital First Media — announced late Thursday that it would nominate six directors to the Gannett board. It’s highly unusual and needlessly aggressive to escalate an unsolicited takeover offer to a proxy fight after only one public bid.
Gannett Co Inc NYSE:GCIView full report here! Summary * Perception of the company's creditworthiness is positive * ETFs holding this stock have seen outflows over the last one-month * Bearish sentiment is high Bearish sentimentShort interest | NegativeShort interest is high for GCI with between 15 and 20% of shares on loan. This means that investors who seek to profit from falling equity prices are currently targeting GCI. However, the last change in the short interest score occurred more than 1 month ago and implies that there has been little change in sentiment. Money flowETF/Index ownership | NegativeETF activity is negative. Over the last one-month, outflows of investor capital in ETFs holding GCI totaled $1.18 billion. Additionally, the rate of outflows appears to be accelerating. Economic sentimentPMI by IHS Markit | NeutralAccording to the latest IHS Markit Purchasing Managers' Index (PMI) data, output in the Consumer Services sector is rising. The rate of growth is weak relative to the trend shown over the past year, however. Credit worthinessCredit default swap | PositiveThe current level displays a positive indicator. Although GCI credit default swap spreads are near their highest levels for the past 3 years, they are decreasing and near the lows of the last one year, which indicates improvement in the market's perception of the company's credit worthiness.Please send all inquiries related to the report to firstname.lastname@example.org.Charts and report PDFs will only be available for 30 days after publishing.This document has been produced for information purposes only and is not to be relied upon or as construed as investment advice. To the fullest extent permitted by law, IHS Markit disclaims any responsibility or liability, whether in contract, tort (including, without limitation, negligence), equity or otherwise, for any loss or damage arising from any reliance on or the use of this material in any way. Please view the full legal disclaimer and methodology information on pages 2-3 of the full report.
Check out the companies making headlines before the bell: Hasbro HAS – The toy maker earned an adjusted $1.33 per share for its latest quarter, well below the consensus estimate of $1.67. Revenue was also below forecasts, with gaming revenue down 22 percent and partner brands revenue down 20 percent.