Gannett Profit Plummets 25% on Higher Costs (GCI)

By
A A A
Share |

Media giant Gannett Co., Inc. ( GCI ) on Monday posted a sharp decline in first quarter earnings, sending its shares plunging in morning trading.

The McLean, VA-based company reported first quarter net income of $68.22 million, or 28 cents per share, compared with $90.49 million, or 37 cents per share, in the year-ago period. Excluding one-time items, adjusted profit was 34 cents per share.

Total revenues fell slightly from last year to $1.22 billion.

On average, Wall Street analysts expected a smaller adjusted profit of 31 cents per share, albeit on higher revenue of $1.24 billion.

Gannett shares plunged $1.08, or -7.2%, in premarket trading Monday.

The Bottom Line
Shares of Gannett ( GCI ) have a 5.32% dividend yield, based on Friday's closing stock price of $15.04. The stock has technical support in the $13-$14 price area. If the shares can firm up, we see overhead resistance around the $16-$17 price levels.

Gannett Co., Inc. ( GCI ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Created by Dividend.com


This article appears in: Investing , Stocks

Referenced Stocks: GCI

Dividend.com

Dividend.com

More from Dividend.com:

Related Videos

Stocks

Referenced

100%

Most Active by Volume

48,099,947
  • $16.09 ▲ 0.50%
40,277,806
  • $102.50 ▲ 0.24%
40,236,499
  • $19.57 ▲ 2.35%
31,092,510
  • $49.75 ▲ 0.65%
30,795,218
  • $34.92 ▲ 0.78%
29,910,855
  • $3.63 ▲ 0.83%
24,019,154
  • $13.06 ▼ 0.38%
23,753,906
  • $74.82 ▲ 1.31%
As of 8/29/2014, 04:04 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com