November 10, 2019 at 9:05 pm

Analysts Expect E. W. Scripps (NYSE:SSP) Will Announce Earnings of -$0.09 Per Share

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Brokerages expect E. W. Scripps (NYSE:SSP) to post ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Zero analysts have provided estimates for E. W. Scripps’ earnings. E. W. Scripps posted earnings of $0.58 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 115.5%. The company is expected to announce its next earnings results on Friday, November 8th.

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On average, analysts expect that E. W. Scripps will report full-year earnings of ($0.09) per share for the current financial year, with EPS estimates ranging from ($0.15) to ($0.05). For the next year, analysts forecast that the company will report earnings of $1.10 per share, with EPS estimates ranging from ($0.06) to $1.85. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for E. W. Scripps.

E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.01) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The company had revenue of $337.50 million during the quarter, compared to analyst estimates of $337.35 million. The firm’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.10 EPS.

A number of equities analysts have weighed in on SSP shares. Wells Fargo & Co started coverage on shares of E. W. Scripps in a report on Monday, September 23rd. They issued an “outperform” rating and a $17.00 price target on the stock. Zacks Investment Research upgraded shares of E. W. Scripps from a “sell” rating to a “hold” rating in a report on Tuesday, November 5th. Finally, Guggenheim reiterated a “neutral” rating and issued a $14.00 price target (down previously from $22.00) on shares of E. W. Scripps in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $19.00.

Shares of SSP traded up $1.06 during mid-day trading on Thursday, reaching $15.28. The company had a trading volume of 833,463 shares, compared to its average volume of 404,772. The firm has a fifty day simple moving average of $13.35 and a 200-day simple moving average of $15.00. E. W. Scripps has a fifty-two week low of $11.36 and a fifty-two week high of $23.41.

In other E. W. Scripps news, major shareholder Corina S. Granado bought 38,117 shares of E. W. Scripps stock in a transaction that occurred on Wednesday, August 21st. The shares were acquired at an average price of $11.91 per share, for a total transaction of $453,973.47. Following the acquisition, the insider now owns 448,569 shares of the company’s stock, valued at approximately $5,342,456.79. The acquisition was disclosed in a filing with the SEC, which is available at this link. Insiders own 4.16% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Capital Fund Management S.A. acquired a new position in shares of E. W. Scripps during the 2nd quarter valued at $177,000. Nisa Investment Advisors LLC lifted its holdings in shares of E. W. Scripps by 7.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 13,500 shares of the company’s stock valued at $179,000 after acquiring an additional 900 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of E. W. Scripps during the 2nd quarter valued at $274,000. Municipal Employees Retirement System of Michigan lifted its holdings in shares of E. W. Scripps by 25.4% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 20,830 shares of the company’s stock valued at $319,000 after acquiring an additional 4,220 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of E. W. Scripps during the 2nd quarter valued at $472,000. Institutional investors and hedge funds 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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Earnings History and Estimates for E. W. Scripps (NYSE:SSP)

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