J.P. Morgan Adjusts Gannett Estimates

J.P. Morgan is making some adjustments to its Gannett Co., Inc. (NYSE: GCI) estimates.

“We anticipate broadcast revenues up 28% with healthy margin expansion of ~900bps in Q4,” J.P. Morgan writes. “EPS comes up from $0.75 to $0.83, at the high end of guidance. 2011E EPS comes down slightly from $2.09 to $1.98 reflecting higher newspaper expenses largely from rising newsprint costs and a slightly higher tax rate.”

Gannett currently trades at $15.36.