E. W. Scripps Co (SSP) Expected to Announce Quarterly Sales of $268.50 Million

Equities research analysts forecast that E. W. Scripps Co (NYSE:SSP) will announce sales of $268.50 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for E. W. Scripps’ earnings, with the highest sales estimate coming in at $269.20 million and the lowest estimate coming in at $267.66 million. E. W. Scripps reported sales of $272.69 million during the same quarter last year, which would indicate a negative year over year growth rate of 1.5%. The business is scheduled to issue its next quarterly earnings results on Friday, February 23rd.

On average, analysts expect that E. W. Scripps will report full-year sales of $268.50 million for the current fiscal year, with estimates ranging from $926.93 million to $929.80 million. For the next financial year, analysts anticipate that the firm will post sales of $1.17 billion per share, with estimates ranging from $1.10 billion to $1.23 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover E. W. Scripps.

E. W. Scripps (NYSE:SSP) last announced its quarterly earnings data on Friday, November 3rd. The company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.02. The company had revenue of $216.45 million during the quarter, compared to analyst estimates of $219.04 million. E. W. Scripps had a net margin of 1.95% and a return on equity of 4.37%. The firm’s revenue for the quarter was down 7.1% compared to the same quarter last year. During the same period last year, the business earned $0.15 EPS.

Several brokerages have weighed in on SSP. Noble Financial reissued a “buy” rating on shares of E. W. Scripps in a report on Wednesday, October 4th. Guggenheim began coverage on shares of E. W. Scripps in a report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price objective for the company. Zacks Investment Research lowered shares of E. W. Scripps from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Benchmark decreased their price objective on shares of E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 6th. Finally, ValuEngine lowered shares of E. W. Scripps from a “hold” rating to a “sell” rating in a report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.75.

Hedge funds and other institutional investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its holdings in shares of E. W. Scripps by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after buying an additional 26 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of E. W. Scripps in the 3rd quarter valued at about $203,000. Piedmont Investment Advisors LLC acquired a new position in shares of E. W. Scripps in the 2nd quarter valued at about $217,000. Fox Run Management L.L.C. acquired a new position in shares of E. W. Scripps in the 3rd quarter valued at about $264,000. Finally, SG Americas Securities LLC acquired a new position in shares of E. W. Scripps in the 2nd quarter valued at about $280,000. 77.81% of the stock is owned by institutional investors and hedge funds.

Shares of E. W. Scripps (NYSE:SSP) traded down $0.08 during mid-day trading on Friday, reaching $16.04. 309,400 shares of the company’s stock traded hands, compared to its average volume of 392,678. The firm has a market cap of $1,320.21, a price-to-earnings ratio of 72.91, a P/E/G ratio of 7.79 and a beta of 1.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.27 and a current ratio of 3.27. E. W. Scripps has a 52 week low of $13.88 and a 52 week 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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Earnings History and Estimates for E. W. Scripps (NYSE:SSP)

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