Equities analysts expect E. W. Scripps (NYSE:SSP) to announce earnings of $0.18 per share for the current quarter, Zacks reports. Two analysts have provided estimates for E. W. Scripps’ earnings. The highest EPS estimate is $0.19 and the lowest is $0.16. E. W. Scripps posted earnings per share of ($0.03) during the same quarter last year, which suggests a positive year over year growth rate of 700%. The company is expected to issue its next quarterly earnings report on Friday, November 2nd.
On average, analysts expect that E. W. Scripps will report full-year earnings of $0.71 per share for the current financial year, with EPS estimates ranging from $0.65 to $0.75. For the next year, analysts forecast that the business will report earnings of $0.48 per share, with EPS estimates ranging from $0.18 to $0.82. Zacks’ earnings per share averages are a mean average based on a survey of analysts that that provide coverage for E. W. Scripps.
E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 3rd. The company reported $0.10 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.02. The business had revenue of $283.40 million for the quarter, compared to analysts’ expectations of $275.68 million. E. W. Scripps had a positive return on equity of 0.89% and a negative net margin of 3.93%. The business’s quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.10 EPS.
A number of brokerages have commented on SSP. Benchmark reaffirmed a “buy” rating and issued a $20.00 price target on shares of E. W. Scripps in a research note on Thursday. Noble Financial set a $19.00 price target on E. W. Scripps and gave the stock a “buy” rating in a research note on Thursday, August 16th. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $16.00 price target on the stock in a research note on Tuesday, August 7th. Finally, Stephens set a $15.00 price target on E. W. Scripps and gave the stock a “hold” rating in a research note on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $18.40.
In other E. W. Scripps news, major shareholder Eaton M. Scripps bought 14,858 shares of E. W. Scripps stock in a transaction dated Friday, October 19th. The shares were purchased at an average cost of $17.15 per share, with a total value of $254,814.70. Following the completion of the purchase, the insider now owns 769,409 shares of the company’s stock, valued at $13,195,364.35. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Anthony S. Granado bought 2,307 shares of E. W. Scripps stock in a transaction dated Monday, October 8th. The shares were acquired at an average cost of $16.31 per share, for a total transaction of $37,627.17. Following the completion of the purchase, the insider now directly owns 693,824 shares of the company’s stock, valued at approximately $11,316,269.44. The disclosure for this purchase can be found here. Insiders have bought 175,643 shares of company stock worth $2,900,767 over the last three months. Insiders own 4.16% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of SSP. New York State Common Retirement Fund increased its stake in shares of E. W. Scripps by 14.8% during the first quarter. New York State Common Retirement Fund now owns 323,388 shares of the company’s stock valued at $3,877,000 after buying an additional 41,675 shares during the period. California Public Employees Retirement System increased its stake in shares of E. W. Scripps by 7.8% during the first quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock valued at $1,345,000 after buying an additional 8,117 shares during the period. Price Capital Management Inc. purchased a new position in shares of E. W. Scripps during the second quarter valued at approximately $488,000. LMR Partners LLP purchased a new position in shares of E. W. Scripps during the second quarter valued at approximately $412,000. Finally, Bank of New York Mellon Corp increased its stake in shares of E. W. Scripps by 3.3% during 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 buying an additional 79,568 shares during the period. 77.70% of the stock is currently owned by hedge funds and other institutional investors.
E. W. Scripps stock traded up $0.16 during trading hours on Friday, reaching $17.22. The company had a trading volume of 595,700 shares, compared to its average volume of 426,108. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.89. The stock has a market capitalization of $1.02 billion, a P/E ratio of -44.15, a price-to-earnings-growth ratio of 3.19 and a beta of 2.03. E. W. Scripps has a 12-month low of $10.69 and a 12-month high of $17.98.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Stockholders of record on Friday, September 14th were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.16%. E. W. Scripps’s dividend payout ratio (DPR) is presently -51.28%.
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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