Wall Street brokerages expect that E. W. Scripps Co (NYSE:SSP) will report sales of $252.11 million for the current quarter, Zacks reports. Two analysts have made estimates for E. W. Scripps’ earnings, with the highest sales estimate coming in at $253.22 million and the lowest estimate coming in at $251.00 million. E. W. Scripps reported sales of $211.00 million in the same quarter last year, which would suggest a positive year over year growth rate of 19.5%. The company is expected to report its next earnings results on Friday, May 4th.
On average, analysts expect that E. W. Scripps will report full year sales of $252.11 million for the current year, with estimates ranging from $1.05 billion to $1.17 billion. For the next financial year, analysts forecast that the company will report sales of $1.13 billion per share, with estimates ranging from $1.07 billion to $1.17 billion. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for E. W. Scripps.
E. W. Scripps (NYSE:SSP) last released its earnings results on Wednesday, February 28th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.09. E. W. Scripps had a positive return on equity of 1.51% and a negative net margin of 1.44%. The firm had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $265.68 million. During the same quarter in the prior year, the company earned $0.46 EPS. The company’s revenue was up 1.6% on a year-over-year basis.
A number of equities analysts have recently commented on SSP shares. Zacks Investment Research upgraded shares of E. W. Scripps from a “sell” rating to a “hold” rating in a research note on Wednesday, January 10th. ValuEngine downgraded shares of E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Friday, February 2nd. Guggenheim restated a “hold” rating and set a $18.00 price objective on shares of E. W. Scripps in a research note on Friday, January 26th. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research note on Monday, January 22nd. Finally, Benchmark restated a “buy” rating and set a $21.00 price objective on shares of E. W. Scripps in a research note on Friday, January 26th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.25.
A number of large investors have recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in E. W. Scripps by 16.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,742,523 shares of the company’s stock valued at $128,243,000 after purchasing an additional 928,854 shares during the last quarter. Cove Street Capital LLC lifted its stake in E. W. Scripps by 29.5% in the 4th quarter. Cove Street Capital LLC now owns 3,136,990 shares of the company’s stock valued at $49,031,000 after purchasing an additional 715,090 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in E. W. Scripps by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 2,329,962 shares of the company’s stock valued at $36,416,000 after purchasing an additional 24,136 shares during the last quarter. Lido Advisors LLC lifted its stake in E. W. Scripps by 91.6% in the 3rd quarter. Lido Advisors LLC now owns 1,024,570 shares of the company’s stock valued at $17,765,000 after purchasing an additional 489,904 shares during the last quarter. Finally, Kennedy Capital Management Inc. lifted its stake in E. W. Scripps by 39.9% in the 4th quarter. Kennedy Capital Management Inc. now owns 494,315 shares of the company’s stock valued at $7,726,000 after purchasing an additional 141,000 shares during the last quarter. Institutional investors and hedge funds own 76.96% of the company’s stock.
SSP stock opened at $12.59 on Wednesday. E. W. Scripps has a one year low of $12.39 and a one year high of $23.75. The company has a debt-to-equity ratio of 0.73, a quick ratio of 2.87 and a current ratio of 2.87. The company has a market cap of $1,061.31, a PE ratio of -83.93, a PEG ratio of 9.57 and a beta of 1.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 26th. Stockholders of record on Thursday, March 1st will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.59%. E. W. Scripps’s dividend payout ratio is -133.33%.
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E. W. Scripps Company Profile
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.
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