E. W. Scripps (SSP) Expected to Post Quarterly Sales of $275.72 Million

Equities research analysts forecast that E. W. Scripps (NYSE:SSP) will announce sales of $275.72 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for E. W. Scripps’ earnings, with the highest sales estimate coming in at $277.20 million and the lowest estimate coming in at $273.00 million. E. W. Scripps posted sales of $231.82 million in the same quarter last year, which would suggest a positive year over year growth rate of 18.9%. The company is expected to announce its next earnings report on Friday, November 2nd.

On average, analysts expect that E. W. Scripps will report full-year sales of $1.15 billion for the current fiscal year, with estimates ranging from $1.13 billion to $1.16 billion. For the next year, analysts expect that the business will report sales of $1.16 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that follow E. W. Scripps.

E. W. Scripps (NYSE:SSP) last posted its quarterly earnings data on Friday, August 3rd. The company reported $0.10 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.02. E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The business had revenue of $283.40 million during the quarter, compared to the consensus estimate of $275.68 million. During the same period in the previous year, the firm posted $0.10 earnings per share. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year.



Several research analysts recently issued reports on SSP shares. Noble Financial set a $19.00 target price on shares of E. W. Scripps and gave the stock a “buy” rating in a report on Monday, July 9th. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $13.00 target price for the company in a report on Friday, May 4th. Finally, Stephens set a $15.00 target price on shares of E. W. Scripps and gave the stock a “hold” rating in a report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $18.17.

Several institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC raised its holdings in shares of E. W. Scripps by 17.9% during the first quarter. Cove Street Capital LLC now owns 3,698,719 shares of the company’s stock worth $44,347,000 after purchasing an additional 561,729 shares during the last quarter. Bank of New York Mellon Corp raised its holdings 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 worth $33,678,000 after purchasing an additional 79,568 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of E. W. Scripps by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 474,773 shares of the company’s stock worth $7,420,000 after purchasing an additional 3,487 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in E. W. Scripps by 24.8% in the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock valued at $5,409,000 after buying an additional 80,377 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in E. W. Scripps by 12.1% in the first quarter. Eagle Asset Management Inc. now owns 350,530 shares of the company’s stock valued at $4,202,000 after buying an additional 37,815 shares in the last quarter. 77.70% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:SSP traded down $0.05 on Tuesday, hitting $14.26. 306,427 shares of the company were exchanged, compared to its average volume of 439,090. The company has a current ratio of 2.89, a quick ratio of 2.89 and a debt-to-equity ratio of 0.76. E. W. Scripps has a 1-year low of $10.69 and a 1-year high of $19.26. The company has a market capitalization of $1.02 billion, a P/E ratio of -36.56, a PEG ratio of 3.19 and a beta of 2.03.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Friday, September 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, September 13th. This represents a $0.20 annualized dividend and a dividend yield of 1.40%. 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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Earnings History and Estimates for E. W. Scripps (NYSE:SSP)

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