Zacks: Brokerages Expect E. W. Scripps Co (SSP) Will Post Earnings of $0.05 Per Share

Wall Street brokerages expect that E. W. Scripps Co (NYSE:SSP) will post earnings per share (EPS) of $0.05 for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for E. W. Scripps’ earnings, with estimates ranging from $0.03 to $0.07. E. W. Scripps posted earnings of $0.46 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 89.1%. The business is expected to issue its next quarterly earnings results on Friday, February 23rd.

According to Zacks, analysts expect that E. W. Scripps will report full year earnings of ($0.21) per share for the current fiscal year, with EPS estimates ranging from ($0.22) to ($0.20). For the next year, analysts anticipate that the business will report earnings of $0.69 per share, with EPS estimates ranging from $0.43 to $0.99. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow E. W. Scripps.

E. W. Scripps (NYSE:SSP) last posted its earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. E. W. Scripps had a negative net margin of 12.33% and a negative return on equity of 11.37%. The business had revenue of $216.45 million for the quarter, compared to analysts’ expectations of $219.04 million. During the same period in the previous year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year.

SSP has been the topic of several recent analyst reports. Zacks Investment Research raised shares of E. W. Scripps from a “sell” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered shares of E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Noble Financial reiterated a “buy” rating on shares of E. W. Scripps in a research note on Wednesday, October 4th. Guggenheim started coverage on shares of E. W. Scripps in a research note on Wednesday, October 18th. They set a “neutral” rating and a $19.00 target price for the company. Finally, Benchmark lowered their target price on shares of E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a research note on Monday, November 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $19.75.

E. W. Scripps (NYSE:SSP) opened at $15.59 on Thursday. E. W. Scripps has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.27 and a current ratio of 3.27. The company has a market cap of $1,260.00, a price-to-earnings ratio of 70.86, a PEG ratio of 7.40 and a beta of 1.93.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in E. W. Scripps by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after acquiring an additional 26 shares during the last quarter. Royal Bank of Canada lifted its stake in E. W. Scripps by 2.5% during the second quarter. Royal Bank of Canada now owns 26,157 shares of the company’s stock valued at $467,000 after buying an additional 628 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in E. W. Scripps by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 296,122 shares of the company’s stock valued at $5,274,000 after buying an additional 1,303 shares in the last quarter. California Public Employees Retirement System lifted its stake in E. W. Scripps by 2.2% during the second quarter. California Public Employees Retirement System now owns 101,400 shares of the company’s stock valued at $1,806,000 after buying an additional 2,200 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in E. W. Scripps by 0.6% during the second quarter. Teachers Advisors LLC now owns 395,922 shares of the company’s stock valued at $7,051,000 after buying an additional 2,290 shares in the last quarter. 77.81% of the stock is owned by institutional investors.

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E. W. Scripps Company Profile

The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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Earnings History and Estimates for E. W. Scripps (NYSE:SSP)

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