Research Analysts Issue Forecasts for E.W. Scripps Co.’s Q2 2017 Earnings (SSP)
E.W. Scripps Co. (NYSE:SSP) – Equities researchers at Jefferies Group upped their Q2 2017 earnings per share estimates for shares of E.W. Scripps in a research note issued to investors on Monday. Jefferies Group analyst J. Janedis now expects that the brokerage will post earnings of $0.17 per share for the quarter, up from their previous estimate of $0.16. Jefferies Group has a “Hold” rating on the stock.
Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Saturday, July 9th. Wells Fargo & Co. reaffirmed a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. E.W. Scripps currently has a consensus rating of “Buy” and an average target price of C$22.05.
Shares of E.W. Scripps (NYSE:SSP) traded down 1.30% during trading on Tuesday, reaching $15.15. The company had a trading volume of 670,142 shares. E.W. Scripps has a 1-year low of $14.52 and a 1-year high of $22.91. The company’s 50 day moving average is $16.27 and its 200-day moving average is $16.25. The stock’s market capitalization is $1.27 billion.
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E.W. Scripps (NYSE:SSP) last announced its earnings results on Friday, August 5th. The company reported $0.14 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The company had revenue of $228 million for the quarter, compared to analysts’ expectations of $198.13 million. During the same period last year, the firm earned ($0.15) EPS. E.W. Scripps’s revenue for the quarter was up 15.0% compared to the same quarter last year.
Several large investors have recently made changes to their positions in SSP. Kennedy Capital Management Inc. raised its stake in shares of E.W. Scripps by 14.8% in the first quarter. Kennedy Capital Management Inc. now owns 1,099,579 shares of the company’s stock worth $17,142,000 after buying an additional 141,979 shares during the period. Deroy & Devereaux Private Investment Counsel Inc. raised its stake in shares of E.W. Scripps by 1.2% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 683,711 shares of the company’s stock worth $10,830,000 after buying an additional 7,840 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of E.W. Scripps by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the company’s stock worth $179,000 after buying an additional 200 shares during the period. Punch & Associates Investment Management Inc. raised its stake in shares of E.W. Scripps by 0.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 556,371 shares of the company’s stock worth $8,813,000 after buying an additional 2,360 shares during the period. Finally, Nordea Investment Management AB raised its stake in shares of E.W. Scripps by 44.0% in the second quarter. Nordea Investment Management AB now owns 720,312 shares of the company’s stock worth $11,410,000 after buying an additional 220,220 shares during the period. 75.15% of the stock is currently owned by hedge funds and other institutional investors.
About E.W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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