E.W. Scripps (NASDAQ:SSP) Announces Earnings Results

E.W. Scripps (NASDAQ:SSP) posted its quarterly earnings data on Thursday. The company reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.16) by ($0.24), Zacks reports. The company had revenue of $525.85 million during the quarter, compared to the consensus estimate of $523.58 million. E.W. Scripps had a return on equity of 17.68% and a net margin of 4.25%.

E.W. Scripps Trading Up 24.9%

Shares of E.W. Scripps stock opened at $2.56 on Friday. E.W. Scripps has a twelve month low of $1.36 and a twelve month high of $4.17. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 2.92. The business has a 50-day moving average price of $2.56 and a 200-day moving average price of $2.71. The firm has a market cap of $226.13 million, a price-to-earnings ratio of 5.33 and a beta of 0.99.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SSP shares. Weiss Ratings reissued a “sell (d)” rating on shares of E.W. Scripps in a report on Wednesday, October 8th. Wall Street Zen lowered shares of E.W. Scripps from a “hold” rating to a “sell” rating in a research report on Sunday, August 31st. Finally, Wells Fargo & Company reduced their price objective on shares of E.W. Scripps from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Monday, August 11th. One research analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $5.50.

Hedge Funds Weigh In On E.W. Scripps

Several institutional investors have recently added to or reduced their stakes in SSP. Oxford Asset Management LLP bought a new stake in E.W. Scripps in the 2nd quarter worth approximately $46,000. Envestnet Asset Management Inc. bought a new position in E.W. Scripps during the third quarter valued at $53,000. Osaic Holdings Inc. raised its stake in shares of E.W. Scripps by 98.9% in the second quarter. Osaic Holdings Inc. now owns 25,818 shares of the company’s stock valued at $76,000 after acquiring an additional 12,835 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of E.W. Scripps by 54.8% in the second quarter. Arrowstreet Capital Limited Partnership now owns 33,789 shares of the company’s stock valued at $99,000 after acquiring an additional 11,964 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of E.W. Scripps in the 2nd quarter worth about $106,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.