E. W. Scripps (NYSE:SSP) – Analysts at Gabelli lifted their FY2019 EPS estimates for shares of 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 ($0.08) for the year, up from their prior estimate of ($0.12).
SSP has been the topic of several other reports. Zacks Investment Research upgraded E. W. Scripps from a “sell” rating to a “hold” rating in a research note on Tuesday, May 28th. Noble Financial reiterated a “buy” rating and set a $25.00 target price on shares of E. W. Scripps in a research note on Wednesday, May 15th. Finally, Benchmark reiterated a “buy” rating and set a $26.00 target price (up from $22.00) on shares of E. W. Scripps in a research note on Monday, March 4th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. E. W. Scripps has a consensus rating of “Hold” and an average target price of $21.75.
Shares of SSP opened at $15.06 on Friday. E. W. Scripps has a 12 month low of $12.44 and a 12 month high of $23.41.
E. W. Scripps (NYSE:SSP) last issued its earnings results on Friday, May 10th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The business had revenue of $292.20 million during the quarter, compared to analyst estimates of $288.81 million. During the same quarter last year, the company posted ($0.07) EPS. The company’s revenue was up 14.9% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, June 14th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.33%.
In other news, CFO Lisa A. Knutson sold 4,406 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $21.41, for a total value of $94,332.46. Following the transaction, the chief financial officer now directly owns 39,794 shares in the company, valued at approximately $851,989.54. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder William H. Scripps sold 80,000 shares of the firm’s stock in a transaction 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. Company insiders own 4.16% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in SSP. Marshall Wace LLP purchased a new position in shares of E. W. Scripps during the 1st quarter worth approximately $723,000. Nordea Investment Management AB purchased a new position in E. W. Scripps in the 1st quarter valued at approximately $2,983,000. Geode Capital Management LLC boosted its position in E. W. Scripps by 10.6% in the 1st quarter. Geode Capital Management LLC now owns 624,210 shares of the company’s stock valued at $13,108,000 after buying an additional 59,859 shares during the period. Mason Street Advisors LLC boosted its position in E. W. Scripps by 3.4% in the 1st quarter. Mason Street Advisors LLC now owns 18,100 shares of the company’s stock valued at $380,000 after buying an additional 595 shares during the period. Finally, Advisors Preferred LLC purchased a new position in E. W. Scripps in the 1st quarter valued at approximately $262,000. Hedge funds and other institutional investors own 77.70% of the company’s stock.
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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