Gannett Co., Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Gannett Co., Inc. (NYSE:GCI) will unveil its latest earnings on Monday, October 17, 2011. Gannett 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 net income of 45 cents per share, a decline of 13.5% 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 46 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. For the year, analysts are projecting profit of $2.12 per share, a decline of 13.1% from last year.

Last quarter, the company came in at net income of 58 cents per share against a mean estimate of profit of 57 cents per share, beating estimates after missing them in the previous quarter. In the first quarter, it missed forecasts by one cent.

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Wall St. Revenue Expectations: Analysts are projecting a decline of 3.1% in revenue from the year-earlier quarter to $1.27 billion.

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

A Look Back: In the second quarter, profit fell 22.5% to $151.5 million (62 cents a share) from $195.5 million (81 cents a share) the year earlier, but exceeded analyst expectations. Revenue fell 2.2% to $1.33 billion from $1.37 billion.

Key Stats:

Revenue has fallen in the past four quarters. Revenue declined 5.4% in the first quarter from the year earlier, dropped 1.6% in fourth quarter of the last fiscal year from the year-ago quarter and 1.8% in the third quarter of the last fiscal year.

The company has seen net income fall in each of the last two quarters. Net income dropped 22.8% in the first quarter.

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), GateHouse Media, Inc. (GHSE), Journal Communications, Inc. (NYSE:JRN), A. H. Belo Corporation (NYSE:AHC), and Meredith Corporation (NYSE:MDP).

Stock Price Performance: During July 18, 2011 to October 11, 2011, the stock price had fallen $2.07 (-16%) from $12.91 to $10.84. The stock price saw one of its best stretches over the last year between November 30, 2010 and December 8, 2010 when shares rose for seven-straight days, rising 20.7% (+$2.67) over that span. It saw one of its worst periods between July 26, 2011 and August 8, 2011 when shares fell for 10-straight days, falling 26.1% (-$3.52) over that span. Shares are down $4.05 (-27.2%) year to date.

(Source: Xignite Financials)

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