Gannett, Mosaic Are S&P 500 Gainers
Both stocks were rated buy at TheStreet Ratings.
|Gannett and Mosaic are among the best-performers of the S&P 500 midday Wednesday.|
The S&P 500 was down 1.83 points to 1,360.38 midday Wednesday.
Shares of Gannett increased 7.68% to $16.13. During the media company's investor day Wednesday, Gannett said it anticipates annual revenue growth of between 2% and 4% as well as earnings growth for the next four years, Bloomberg reported. The company also expects to return about $1 billion to its shareholders by 2015, Bloomberg said.
Gannett has an estimated price-to-earnings ratio of 7.5; the average for publishing companies is 38.04. For comparison, Morningstar(MORN) and Meredith(MDP) both have higher forward P/Es of 22.39 and 11.39, respectively.
Six of the 11 analysts who cover Gannett rated it buy; five analysts gave it a hold rating.
TheStreet Ratings gives Gannett a B- grade with a $17.39 price target. The stock has risen 20.94% year to date.