Wall Street brokerages expect that E. W. Scripps (NYSE:SSP) will post $340.26 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for E. W. Scripps’ earnings. The highest sales estimate is $352.52 million and the lowest is $328.00 million. E. W. Scripps posted sales of $256.98 million during the same quarter last year, which would suggest a positive year over year growth rate of 32.4%. The firm is expected to issue its next earnings results on Wednesday, February 27th.
According to Zacks, analysts expect that E. W. Scripps will report full year sales of $1.17 billion for the current year, with estimates ranging from $1.15 billion to $1.19 billion. For the next fiscal year, analysts forecast that the business will post sales of $1.30 billion, with estimates ranging from $1.17 billion to $1.38 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow E. W. Scripps.
E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, November 9th. The company reported $0.24 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04. The company had revenue of $302.70 million during the quarter, compared to analysts’ expectations of $292.22 million. The company’s quarterly revenue was up 51.0% on a year-over-year basis. During the same period last year, the business earned ($0.03) earnings per share.
A number of research analysts recently commented on the stock. Gabelli assumed coverage on shares of E. W. Scripps in a research report on Tuesday. They issued a “buy” rating on the stock. Benchmark reaffirmed a “buy” rating and issued a $22.00 target price on shares of E. W. Scripps in a research report on Monday, November 12th. Zacks Investment Research downgraded shares of E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, November 7th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. E. W. Scripps has a consensus rating of “Hold” and an average price target of $18.80.
In other E. W. Scripps news, major shareholder Charles E. Scripps acquired 5,000 shares of the stock in a transaction on Monday, September 17th. The shares were bought at an average cost of $16.31 per share, with a total value of $81,550.00. Following the transaction, the insider now owns 678,824 shares of the company’s stock, valued at approximately $11,071,619.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Lisa A. Knutson sold 20,786 shares of the firm’s stock in a transaction on Wednesday, November 14th. The stock was sold at an average price of $17.31, for a total transaction of $359,805.66. Following the transaction, the chief financial officer now directly owns 30,820 shares in the company, valued at $533,494.20. The disclosure for this sale can be found here. Insiders have acquired a total of 437,385 shares of company stock worth $7,382,723 over the last three months. 4.16% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of SSP. LMR Partners LLP purchased a new position in E. W. Scripps during the 2nd quarter worth $412,000. Price Capital Management Inc. acquired a new stake in shares of E. W. Scripps in the 2nd quarter worth $488,000. MetLife Investment Advisors LLC lifted its stake in shares of E. W. Scripps by 50.0% in the 3rd quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock worth $535,000 after acquiring an additional 10,808 shares during the period. Lenox Wealth Management Inc. lifted its stake in shares of E. W. Scripps by 23.3% in the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock worth $1,381,000 after acquiring an additional 15,788 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its stake in shares of E. W. Scripps by 19.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after acquiring an additional 17,580 shares during the period. 77.70% of the stock is currently owned by institutional investors.
NYSE SSP opened at $17.65 on Friday. E. W. Scripps has a 12 month low of $10.69 and a 12 month high of $18.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend is Thursday, December 13th.
About E. W. Scripps
The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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