GCI - Wall Street Is Sleeping on This Stock. Now Is a Good Time to Buy
Gannett (NYSE: GCI) , the largest news publisher in the U.S., did not get a warm reception from the market after recently reporting fourth-quarter earnings results for 2021 and providing forward guidance that was softer than investors might have been anticipating. Further, there don't seem to be many analysts covering the stock. On the company's Q4 earnings conference call, only one analyst participated in the Q&A portion.
Ultimately, I think Wall Street is sleeping on this stock and missing the bigger picture. Here's why.
Operating revenue in the quarter totaled $826 million, down close to $50 million from the fourth quarter of 2020, while the company also reported a loss of $0.17 per share. The publishing business accounted for most of the decline in revenue as print advertising continued to struggle in line with industrywide trends. Circulation also struggled from a secular decline.
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Wall Street Is Sleeping on This Stock. Now Is a Good Time to Buy