E. W. Scripps (SSP) Posts Quarterly Earnings Results, Misses Estimates By $0.03 EPS

E. W. Scripps (NYSE:SSP) posted its earnings results on Friday. The company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $288.81 million. The company’s revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share.

SSP stock traded down $1.56 on Friday, reaching $21.60. The company’s stock had a trading volume of 812,375 shares, compared to its average volume of 432,434. E. W. Scripps has a 52 week low of $12.16 and a 52 week high of $23.41.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Friday, June 14th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Thursday, June 13th.

In related news, insider Brian G. Lawlor sold 11,000 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total value of $220,000.00. Following the completion of the transaction, the insider now directly owns 90,571 shares of the company’s stock, valued at approximately $1,811,420. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Mary Peirce acquired 8,099 shares of the firm’s stock in a transaction that occurred on Wednesday, February 27th. The stock was acquired at an average cost of $19.96 per share, with a total value of $161,656.04. Following the completion of the acquisition, the insider now directly owns 54,274 shares in the company, valued at $1,083,309.04. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 33,335 shares of company stock valued at $646,334 and sold 12,400 shares valued at $251,514. Corporate insiders own 4.16% of the company’s stock.

Several equities analysts have recently commented on SSP shares. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a report on Thursday, January 17th. Benchmark reaffirmed a “buy” rating and set a $26.00 target price (up from $22.00) on shares of E. W. Scripps in a report on Monday, March 4th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $20.50.

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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 for E. W. Scripps (NYSE:SSP)

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