Wall Street brokerages expect E. W. Scripps (NYSE:SSP) to report sales of $275.05 million for the current quarter, according to Zacks. Three analysts have issued estimates for E. W. Scripps’ earnings, with the highest sales estimate coming in at $276.96 million and the lowest estimate coming in at $274.00 million. E. W. Scripps reported sales of $231.82 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 18.6%. The business is scheduled to report its next quarterly earnings results on Thursday, August 2nd.
On average, analysts expect that E. W. Scripps will report full year sales of $1.13 billion for the current financial year, with estimates ranging from $1.12 billion to $1.14 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.16 billion per share, with estimates ranging from $1.15 billion to $1.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover E. W. Scripps.
Get E. W. Scripps alerts:
E. W. Scripps (NYSE:SSP) last released its quarterly earnings data on Monday, May 7th. The company reported ($0.10) earnings per share for the quarter, missing 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 $254.20 million for the quarter, compared to the consensus estimate of $252.60 million. During the same quarter last year, the firm earned ($0.02) EPS. The company’s revenue for the quarter was up 28.1% on a year-over-year basis.
Several equities research analysts have commented on the company. Zacks Investment Research cut E. W. Scripps from a “buy” rating to a “hold” rating in a research note on Thursday, May 10th. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research note on Tuesday, May 8th. ValuEngine cut E. W. Scripps from a “sell” rating to a “strong sell” rating in a research note on Monday, April 2nd. Guggenheim restated a “hold” rating and issued a $18.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. Finally, Benchmark restated a “buy” rating and issued a $21.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. E. W. Scripps currently has an average rating of “Hold” and a consensus target price of $18.00.
E. W. Scripps traded up $0.10, hitting $13.10, during trading on Friday, according to Marketbeat. The stock had a trading volume of 336,043 shares, compared to its average volume of 527,676. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -33.59, a PEG ratio of 3.37 and a beta of 1.99. The company has a debt-to-equity ratio of 0.76, a quick ratio of 2.89 and a current ratio of 2.89. E. W. Scripps has a 12 month low of $10.69 and a 12 month high of $20.35.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Shareholders of record on Friday, June 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, June 14th. E. W. Scripps’s payout ratio is -51.28%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. Elkfork Partners LLC acquired a new position in shares of E. W. Scripps during the 4th quarter worth approximately $101,000. Quantbot Technologies LP increased its position in shares of E. W. Scripps by 1,024.7% during the 1st quarter. Quantbot Technologies LP now owns 34,752 shares of the company’s stock worth $416,000 after purchasing an additional 31,662 shares during the last quarter. MetLife Investment Advisors LLC acquired a new position in shares of E. W. Scripps during the 4th quarter worth approximately $464,000. California Public Employees Retirement System increased its position in shares of E. W. Scripps by 7.8% during the 1st quarter. California Public Employees Retirement System now owns 112,217 shares of the company’s stock worth $1,345,000 after purchasing an additional 8,117 shares during the last quarter. Finally, Arizona State Retirement System increased its position in shares of E. W. Scripps by 223.0% during the 4th quarter. Arizona State Retirement System now owns 92,900 shares of the company’s stock worth $1,452,000 after purchasing an additional 64,142 shares during the last quarter. Hedge funds and other institutional investors own 76.66% 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 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.
Get a free copy of the Zacks research report on E. W. Scripps (SSP)
For more information about research offerings from Zacks Investment Research, visit Zacks.com