E. W. Scripps (SSP) Announces Quarterly Earnings Results, Beats Estimates By $0.04 EPS

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.

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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.

Featured Story: Earnings Per Share (EPS) Explained

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

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