E. W. Scripps (NYSE:SSP) – Equities research analysts at Gabelli lowered their FY2020 earnings per share (EPS) estimates for E. W. Scripps in a report released on Wednesday, June 12th. Gabelli analyst B. Harriss now expects that the company will post earnings per share of $1.85 for the year, down from their previous forecast of $1.96. Gabelli also issued estimates for E. W. Scripps’ FY2021 earnings at $1.05 EPS, FY2022 earnings at $2.35 EPS and FY2023 earnings at $1.95 EPS.
E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). The business had revenue of $292.20 million during the quarter, compared to analysts’ expectations of $288.81 million. During the same period in the prior year, the business posted ($0.07) earnings per share. The firm’s revenue was up 14.9% on a year-over-year basis.
Several other research analysts also recently commented on the company. Noble Financial reiterated a “buy” rating and issued a $25.00 price objective on shares of E. W. Scripps in a report on Wednesday, May 15th. Benchmark reiterated a “buy” rating and issued a $26.00 price objective (up previously from $22.00) on shares of E. W. Scripps in a report on Monday, March 4th. Finally, Zacks Investment Research downgraded E. W. Scripps from a “hold” rating to a “sell” rating in a report on Tuesday, May 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $21.75.
SSP opened at $14.96 on Thursday. E. W. Scripps has a 12 month low of $12.44 and a 12 month high of $23.41.
Several hedge funds have recently bought and sold shares of the business. Metropolitan Life Insurance Co. NY boosted its position in shares of E. W. Scripps by 349.9% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 13,897 shares of the company’s stock worth $219,000 after purchasing an additional 10,808 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of E. W. Scripps by 171.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 10,557 shares of the company’s stock worth $222,000 after purchasing an additional 6,672 shares in the last quarter. Municipal Employees Retirement System of Michigan bought a new stake in shares of E. W. Scripps in the 4th quarter worth approximately $261,000. Advisors Preferred LLC bought a new stake in shares of E. W. Scripps in the 1st quarter worth approximately $262,000. Finally, Oregon Public Employees Retirement Fund bought a new stake in shares of E. W. Scripps in the 4th quarter worth approximately $337,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.
In other E. W. Scripps news, CFO Lisa A. Knutson sold 4,406 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $21.41, for a total transaction of $94,332.46. Following the transaction, the chief financial officer now owns 39,794 shares in the company, valued at approximately $851,989.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder William H. Scripps sold 80,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $16.11, for a total value of $1,288,800.00. The disclosure for this sale can be found here. 4.16% of the stock is owned by insiders.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Friday, June 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a yield of 1.34%.
E. W. Scripps Company Profile
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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