Equities research analysts forecast that E. W. Scripps (NYSE:SSP) will post ($0.09) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for E. W. Scripps’ earnings. E. W. Scripps posted earnings per share of $0.58 in the same quarter last year, which suggests a negative year over year growth rate of 115.5%. The company is expected to issue its next earnings results on Friday, March 6th.
According to Zacks, analysts expect that E. W. Scripps will report full-year earnings of ($0.13) per share for the current financial year, with EPS estimates ranging from ($0.27) to ($0.05). For the next year, analysts expect that the firm will report earnings of $1.16 per share, with EPS estimates ranging from ($0.06) to $1.85. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow E. W. Scripps.
Several research firms have issued reports on SSP. Wells Fargo & Co began coverage on E. W. Scripps in a research note on Monday, September 23rd. They issued an “outperform” rating and a $17.00 target price on the stock. Noble Financial reissued a “buy” rating and set a $20.00 price target on shares of E. W. Scripps in a research report on Wednesday, November 13th. Benchmark lowered their price target on shares of E. W. Scripps from $25.00 to $24.00 and set a “buy” rating on the stock in a report on Monday, November 11th. Zacks Investment Research raised shares of E. W. Scripps from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Guggenheim reiterated a “neutral” rating and set a $14.00 price objective (down previously from $22.00) on shares of E. W. Scripps in a research note on Monday, August 12th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $17.60.
The firm also recently announced a dividend, which will be paid on Tuesday, December 24th. Investors of record on Friday, December 13th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, December 12th.
In related news, CFO Lisa A. Knutson sold 25,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $14.27, for a total transaction of $356,750.00. Following the transaction, the chief financial officer now directly owns 14,794 shares of the company’s stock, valued at approximately $211,110.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 4.16% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its holdings in shares of E. W. Scripps by 7.1% during the third 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. California State Teachers Retirement System grew its position in E. W. Scripps by 1.2% during the 3rd quarter. California State Teachers Retirement System now owns 85,258 shares of the company’s stock worth $1,132,000 after purchasing an additional 1,018 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in E. W. Scripps by 3.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 36,308 shares of the company’s stock worth $555,000 after purchasing an additional 1,296 shares during the last quarter. Lenox Wealth Management Inc. grew its position in E. W. Scripps by 7.6% during the 3rd quarter. Lenox Wealth Management Inc. now owns 56,924 shares of the company’s stock worth $755,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its stake in 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 purchasing an additional 4,220 shares in the last quarter. 77.70% of the stock is owned by institutional investors and hedge funds.
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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