Tuesday, March 17, 2009

GCI stock ranked in middle in 2008 performance

How shares performed last year compared to other major media, and broad stock market indexes:

2 comments:

  1. Shouldn't include Scripps, which split at mid-year into two companies. If you put them back together, drop is about 50 percent and among the better performers of a miserable lot.

    ReplyDelete
  2. Folks at this site

    http://tinyurl.com/dj9wo9

    Are suggesting that Gannett is among 9 other stocks they think might double in value this year.


    "Gannett (GCI) will never recover. That is the conventional wisdom. It
    is in the newspaper business which is dead. Its debt was recently cut to junk by Moody’s and it reduced its dividend. Shares have fallen from a 52-week high of $31.86 to $1.85. Over the last year, the stock
    has dropped as much as shares in some of its major rivals. but Gannett is by far the strongest company in the industry. Even if Gannett out of business in a decade, it prospects over the next year or two are reasonable. Last year Gannett had revenue of $6.8 billion, down from $7.4 billion the year before. After backing out a non-cash charge, the
    firm made about$1.2 billion, off from almost $1.7 billion in 2007.
    Gannett’s revenue will almost certainly be down again this year, but it should benefit from two things. The first is cost cuts it has already made along with more that it is likely to make and the very good chance that the company will begin to close money-losing properties. The print industry will never be close to what it was five years ago, but small recovery in national and local advertising
    combined with brutal costs cuts will keep Gannett on its feet. The
    stock should be down, but not to under $2."

    ReplyDelete

Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."

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