$0.60 Earnings Per Share Expected for E. W. Scripps (SSP) This Quarter

Equities analysts expect E. W. Scripps (NYSE:SSP) to report $0.60 earnings per share for the current quarter, according to Zacks. Two analysts have provided estimates for E. W. Scripps’ earnings. E. W. Scripps posted earnings of $0.14 per share during the same quarter last year, which suggests a positive year over year growth rate of 328.6%. The company is scheduled to report its next earnings report on Wednesday, February 27th.

On average, analysts expect that E. W. Scripps will report full year earnings of $0.84 per share for the current year, with EPS estimates ranging from $0.65 to $1.02. For the next fiscal year, analysts anticipate that the company will post earnings of $0.29 per share, with EPS estimates ranging from $0.16 to $0.39. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research firms that cover E. W. Scripps.

E. W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 9th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.04. The business had revenue of $302.70 million for the quarter, compared to analyst estimates of $292.22 million. The business’s revenue for the quarter was up 51.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.03) earnings per share.

A number of equities research analysts have recently weighed in on SSP shares. Stephens set a $15.00 price objective on shares of E. W. Scripps and gave the company a “hold” rating in a report on Tuesday, August 7th. Zacks Investment Research raised shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $16.00 price objective on the stock in a report on Tuesday, August 7th. Noble Financial set a $19.00 price objective on shares of E. W. Scripps and gave the company a “buy” rating in a report on Thursday, August 16th. Finally, Benchmark reissued a “buy” rating and set a $20.00 price objective on shares of E. W. Scripps in a report on Thursday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $18.80.

In other E. W. Scripps news, major shareholder Eaton M. Scripps purchased 38,322 shares of the stock in a transaction on Friday, November 30th. The shares were bought at an average cost of $17.60 per share, with a total value of $674,467.20. Following the completion of the acquisition, the insider now owns 978,402 shares in the company, valued at $17,219,875.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Anthony S. Granado purchased 2,210 shares of the stock in a transaction on Monday, October 15th. The stock was acquired at an average cost of $16.41 per share, for a total transaction of $36,266.10. Following the completion of the acquisition, the insider now owns 10,000 shares of the company’s stock, valued at approximately $164,100. The disclosure for this purchase can be found here. Insiders have bought 494,625 shares of company stock worth $8,389,768 over the last three months. Corporate insiders own 4.16% of the company’s stock.

Large investors have recently bought and sold shares of the business. MetLife Investment Advisors LLC boosted its stake in shares of E. W. Scripps by 50.0% during the 3rd quarter. MetLife Investment Advisors LLC now owns 32,433 shares of the company’s stock worth $535,000 after acquiring an additional 10,808 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of E. W. Scripps by 2.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,581,130 shares of the company’s stock worth $42,588,000 after acquiring an additional 65,986 shares in the last quarter. Lenox Wealth Management Inc. boosted its stake in shares of E. W. Scripps by 23.3% during the 3rd quarter. Lenox Wealth Management Inc. now owns 83,683 shares of the company’s stock worth $1,381,000 after acquiring an additional 15,788 shares in the last quarter. Public Employees Retirement System of Ohio boosted its stake in shares of E. W. Scripps by 19.8% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 106,166 shares of the company’s stock worth $1,422,000 after acquiring an additional 17,580 shares in the last quarter. Finally, California Public Employees Retirement System boosted its stake in shares of E. W. Scripps by 5.8% during the 2nd quarter. California Public Employees Retirement System now owns 118,693 shares of the company’s stock worth $1,589,000 after acquiring an additional 6,476 shares in the last quarter. 77.70% of the stock is currently owned by institutional investors.

Shares of SSP stock traded down $0.45 during trading hours on Wednesday, reaching $17.21. 410,814 shares of the company’s stock were exchanged, compared to its average volume of 448,051. E. W. Scripps has a fifty-two week low of $10.69 and a fifty-two week high of $18.44.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Thursday, December 13th.

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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