Brokerages Anticipate E. W. Scripps Co (SSP) Will Announce Earnings of $0.04 Per Share
Analysts forecast that E. W. Scripps Co (NYSE:SSP) will announce earnings per share (EPS) of $0.04 for the current quarter, according to Zacks. Three analysts have issued estimates for E. W. Scripps’ earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.05. E. W. Scripps reported earnings of $0.14 per share during the same quarter last year, which would indicate a negative year over year growth rate of 71.4%. The business is expected to announce its next quarterly earnings results on Friday, August 4th.
According to Zacks, analysts expect that E. W. Scripps will report full year earnings of $0.19 per share for the current financial year, with EPS estimates ranging from $0.13 to $0.23. For the next financial year, analysts expect that the company will report earnings of $0.84 per share, with EPS estimates ranging from $0.62 to $1.03. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for E. W. Scripps.
E. W. Scripps (NYSE:SSP) last released its quarterly earnings data on Friday, May 5th. The company reported ($0.02) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.04. E. W. Scripps had a return on equity of 4.00% and a net margin of 0.84%. The firm had revenue of $211 million for the quarter, compared to the consensus estimate of $211.50 million. During the same quarter in the prior year, the company posted $0.06 earnings per share. The firm’s revenue was up .7% on a year-over-year basis.
Several research firms have weighed in on SSP. Zacks Investment Research raised E. W. Scripps from a “sell” rating to a “hold” rating in a research report on Thursday. Benchmark Co. reaffirmed a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, April 5th. Finally, Jefferies Group LLC boosted their price target on E. W. Scripps from $16.00 to $20.00 and gave the stock a “hold” rating in a research report on Monday, February 27th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $22.50.
In other news, COO Adam Symson sold 8,376 shares of E. W. Scripps stock in a transaction that occurred on Wednesday, March 1st. The stock was sold at an average price of $23.00, for a total transaction of $192,648.00. Following the completion of the transaction, the chief operating officer now directly owns 17,008 shares in the company, valued at approximately $391,184. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Richard A. Boehne sold 150,000 shares of E. W. Scripps stock in a transaction that occurred on Monday, April 17th. The stock was sold at an average price of $22.08, for a total value of $3,312,000.00. Following the transaction, the chairman now owns 148,621 shares of the company’s stock, valued at $3,281,551.68. The disclosure for this sale can be found here. Insiders have sold a total of 541,524 shares of company stock valued at $12,242,491 over the last quarter. 3.86% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of E. W. Scripps by 8.2% in the fourth quarter. State Street Corp now owns 1,250,054 shares of the company’s stock valued at $24,162,000 after buying an additional 94,340 shares in the last quarter. Phocas Financial Corp. increased its position in shares of E. W. Scripps by 6.5% in the third quarter. Phocas Financial Corp. now owns 394,739 shares of the company’s stock valued at $6,276,000 after buying an additional 24,032 shares in the last quarter. Blackstone Group L.P. increased its position in shares of E. W. Scripps by 10.7% in the third quarter. Blackstone Group L.P. now owns 570,195 shares of the company’s stock valued at $9,066,000 after buying an additional 55,274 shares in the last quarter. CSS LLC IL acquired a new position in shares of E. W. Scripps during the third quarter valued at approximately $268,000. Finally, Tealwood Asset Management Inc. acquired a new position in shares of E. W. Scripps during the third quarter valued at approximately $2,592,000. Institutional investors own 77.19% of the company’s stock.
E. W. Scripps (NYSE:SSP) opened at 17.92 on Monday. The firm has a market cap of $1.48 billion, a P/E ratio of 25.06 and a beta of 1.83. The company has a 50-day moving average price of $22.02 and a 200-day moving average price of $19.71. E. W. Scripps has a 12-month low of $12.16 and a 12-month high of $24.15.
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E. W. Scripps Company Profile
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’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.
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