Gannett Co., Inc. Second Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Gannett Co., Inc. (NYSE:GCI) will unveil its latest earnings on Monday, July 18, 2011. Gannett Co., Inc. is an international news and information company operating mainly in the realms of publishing, digital and broadcasting.

Gannett Co., Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 57 cents per share, a decline of 6.6% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 59 cents. Between one and three months ago, the average estimate moved down and dropped from 58 cents during the last month. For the year, analysts are projecting net income of $2.17 per share, a decline of 11.1% from last year.

Past Earnings Performance: The company missed estimates last quarter after beating forecasts in the prior two. In the first quarter, the company reported profit of 41 cents per share versus a mean estimate of net income of 42 cents per share. In fourth quarter of the last fiscal year, the company beat estimates by 2 cents.

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Wall St. Revenue Expectations: On average, analysts predict $1.33 billion in revenue this quarter, a decline of 2.9% from the year ago quarter. Analysts are forecasting total revenue of $5.31 billion for the year, a decline of 2.4% from last year’s revenue of $5.44 billion.

Analyst Ratings: Analysts are bullish on Gannett as five analysts rate it as a buy, one rates it as a sell and four rate it as a hold.

Key Stats:

The decrease in profit in the first quarter breaks a streak of three consecutive quarters of year-over-year profit increases. Net income fell 22.8% in the first quarter from the year earlier, while the figure rose 30.3% in the fourth quarter of the last fiscal year, 37.5% in the third quarter of the last fiscal year and more than twofold in the second quarter of the last fiscal year.

Revenue has fallen in the past four quarters. Revenue declined 5.4% to $1.25 billion in first quarter. The figure fell 1.6% in the fourth quarter of the last fiscal year from the year earlier, dropped 1.8% in third quarter of the last fiscal year from the year-ago quarter and 3.4% in the second quarter of the last fiscal year.

Competitors to Watch: The E.W. Scripps Company (NYSE:SSP), The New York Times Company (NYSE:NYT), The McClatchy Company (NYSE:MNI), News Corporation (NASDAQ:NWSA), Media General, Inc. (NYSE:MEG), Lee Enterprises, Inc. (NYSE:LEE), Journal Communications, Inc. (NYSE:JRN), A. H. Belo Corporation (NYSE:AHC), and Meredith Corporation (NYSE:MDP).

Stock Price Performance: During May 13, 2011 to July 12, 2011, the stock price had fallen 95 cents (-6.5%) from $14.57 to $13.62. Shares have been on an upward streak of late, closing up every day between July 7, 2011 and July 12, 2011. It saw one of its worst periods between November 30, 2010, and December 8, 2010, when shares fell for seven-straight days, falling 17.1% (-$2.69) over that span. Shares are down $1.39 (-9.3%) year to date.

(Source: Xignite Financials)

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