E. W. Scripps (NYSE:SSP) posted its quarterly earnings results on Friday. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.04, MarketWatch Earnings reports. The company had revenue of $302.70 million for the quarter, compared to the consensus estimate of $292.22 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. E. W. Scripps’s revenue was up 51.0% compared to the same quarter last year.
Shares of SSP stock opened at $16.85 on Friday. E. W. Scripps has a fifty-two week low of $10.69 and a fifty-two week high of $18.44.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.19%.
Several research firms recently issued reports on SSP. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday. Zacks Investment Research lowered E. W. Scripps from a “strong-buy” rating to a “hold” rating in a research report on Thursday. Benchmark reiterated a “buy” rating and issued a $20.00 price objective on shares of E. W. Scripps in a research report on Thursday, October 18th. Finally, Stephens set a $15.00 price objective on E. W. Scripps and gave the stock a “hold” rating in a research report on Tuesday, August 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.40.
In other E. W. Scripps news, major shareholder Eaton M. Scripps acquired 30,822 shares of the business’s stock in a transaction dated Friday, November 9th. The shares were purchased at an average cost of $17.26 per share, for a total transaction of $531,987.72. Following the transaction, the insider now owns 888,793 shares in the company, valued at $15,340,567.18. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Anthony S. Granado acquired 2,210 shares of the business’s stock in a transaction dated Monday, October 15th. The stock was acquired at an average price of $16.41 per share, for a total transaction of $36,266.10. Following the completion of the transaction, the insider now owns 10,000 shares in the company, valued at approximately $164,100. The disclosure for this purchase can be found here. Over the last quarter, insiders bought 310,542 shares of company stock worth $5,192,641. Corporate insiders own 4.16% 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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