Updating your Conservative stocks: Canon, Gannett and Tegna

Article Excerpt

CANON INC. ADRs $22 (www.canon.com) is a hold. The company’s sales in the fourth quarter of 2020 fell 0.8%, to $7.16 billion from $8.05 billion a year earlier. That’s mainly because the shutdown of offices due to COVID-19 hurt demand for its printers, copiers and other office equipment. However, consumers spent more on printers due to remote working and learning. Canon’s earnings also fell 28.3%, to $0.76 per ADR from $1.06. Canon is a hold. GANNETT CO. INC. $4.99 (www.gannett.com) is still a hold. The company publishes newspapers and news websites in the U.S. and the U.K. Those include the flagship newspaper, USAToday. Recent re-financing will cut Gannett’s interest costs in 2021 by $90 million. However, its total debt of $1.545 billion (as of February 25, 2021) is a high 1.6 times its market cap. Gannett is a hold. TEGNA INC. $19 (www.tegna.com) remains a buy. The company owns 64 TV stations in 51 markets. It also offers online advertising and marketing services. Thanks to higher spending on political ads and acquisitions, Tegna’s revenue…