Brokerages Anticipate E. W. Scripps (SSP) to Post $0.60 Earnings Per Share

Equities research analysts expect E. W. Scripps (NYSE:SSP) to report earnings of $0.60 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for E. W. Scripps’ earnings, with estimates ranging from $0.59 to $0.60. E. W. Scripps posted earnings per share of $0.14 during the same quarter last year, which would suggest a positive year-over-year growth rate of 328.6%. The business is expected to announce its next quarterly earnings results on Wednesday, February 27th.

According to Zacks, analysts expect that E. W. Scripps will report full-year earnings of $0.81 per share for the current financial year, with EPS estimates ranging from $0.65 to $1.02. For the next year, analysts expect that the business will report earnings of $0.35 per share, with EPS estimates ranging from $0.16 to $0.52. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for E. W. Scripps.

E. W. Scripps (NYSE:SSP) last released its earnings results on Friday, November 9th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.04. The business had revenue of $302.70 million for the quarter, compared to the consensus estimate of $292.22 million. During the same quarter last year, the business posted ($0.03) earnings per share. The firm’s revenue for the quarter was up 51.0% compared to the same quarter last year.

Several research firms have recently weighed in on SSP. Gabelli began coverage on E. W. Scripps in a research report on Tuesday, November 27th. They set a “buy” rating for the company. Benchmark reiterated a “buy” rating and set a $22.00 target price on shares of E. W. Scripps in a research report on Monday, November 12th. Zacks Investment Research downgraded E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research report on Thursday, November 8th. Finally, Noble Financial reiterated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $18.80.

Shares of NYSE:SSP traded up $0.02 on Wednesday, hitting $17.65. 16,342 shares of the company’s stock were exchanged, compared to its average volume of 448,374. E. W. Scripps has a 12 month low of $10.69 and a 12 month high of $18.44.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.13%.

In other news, major shareholder Anthony S. Granado acquired 2,210 shares of the firm’s stock in a transaction that occurred on Monday, October 15th. The stock was purchased at an average cost of $16.41 per share, for a total transaction of $36,266.10. Following the completion of the acquisition, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $164,100. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Eaton M. Scripps acquired 38,322 shares of the firm’s stock in a transaction that occurred on Friday, November 30th. The stock was purchased at an average price of $17.60 per share, with a total value of $674,467.20. Following the completion of the acquisition, the insider now directly owns 978,402 shares of the company’s stock, valued at $17,219,875.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 475,707 shares of company stock valued at $8,057,190. Corporate insiders own 4.16% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its holdings in shares of E. W. Scripps by 3.3% in the second quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock valued at $33,678,000 after acquiring an additional 79,568 shares in the last quarter. Litespeed Management L.L.C. raised its holdings in shares of E. W. Scripps by 3.6% in the second quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock valued at $5,805,000 after acquiring an additional 15,000 shares in the last quarter. Cove Street Capital LLC raised its holdings in shares of E. W. Scripps by 8.8% in the second quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock valued at $53,901,000 after acquiring an additional 326,712 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of E. W. Scripps by 19.8% in the second quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock valued at $1,422,000 after acquiring an additional 17,580 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of E. W. Scripps by 24.8% in the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock valued at $5,409,000 after acquiring an additional 80,377 shares in the last quarter. Hedge funds and other institutional investors own 77.70% of the company’s stock.

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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Earnings History and Estimates for E. W. Scripps (NYSE:SSP)

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