Brokerages Anticipate E. W. Scripps Co (SSP) Will Post Quarterly Sales of $268.50 Million

Brokerages expect that E. W. Scripps Co (NYSE:SSP) will report sales of $268.50 million for the current fiscal quarter, according to Zacks. Three analysts have made estimates for E. W. Scripps’ earnings, with the lowest sales estimate coming in at $267.66 million and the highest estimate coming in at $269.20 million. E. W. Scripps posted sales of $272.69 million in the same quarter last year, which suggests a negative year-over-year growth rate of 1.5%. The company is scheduled to announce its next quarterly earnings results before the market opens on Wednesday, February 28th.

According to Zacks, analysts expect that E. W. Scripps will report full year sales of $268.50 million for the current year, with estimates ranging from $926.93 million to $929.80 million. For the next year, analysts anticipate that the firm will post sales of $1.16 billion per share, with estimates ranging from $1.05 billion to $1.23 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover E. W. Scripps.

A number of analysts have issued reports on SSP shares. Zacks Investment Research cut shares of E. W. Scripps from a “buy” rating to a “hold” rating in a research note on Wednesday, January 24th. ValuEngine cut shares of E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Tuesday, November 14th. Benchmark reduced 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. Noble Financial reiterated a “buy” rating on shares of E. W. Scripps in a research note on Monday, January 22nd. Finally, Guggenheim reiterated a “hold” rating and issued a $18.00 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 issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $19.25.

Several large investors have recently added to or reduced their stakes in SSP. Ameriprise Financial Inc. raised its position in shares of E. W. Scripps by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 296,122 shares of the company’s stock valued at $5,274,000 after purchasing an additional 1,303 shares during the period. PNC Financial Services Group Inc. raised its position in shares of E. W. Scripps by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the period. Vanguard Group Inc. raised its position in shares of E. W. Scripps by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,097,074 shares of the company’s stock valued at $90,779,000 after purchasing an additional 63,426 shares during the period. California Public Employees Retirement System raised its position in shares of E. W. Scripps by 2.2% in the second quarter. California Public Employees Retirement System now owns 101,400 shares of the company’s stock valued at $1,806,000 after purchasing an additional 2,200 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of E. W. Scripps by 9.4% in the second quarter. Voya Investment Management LLC now owns 28,781 shares of the company’s stock valued at $513,000 after purchasing an additional 2,472 shares during the period. 77.82% of the stock is currently owned by institutional investors.

Shares of E. W. Scripps (NYSE SSP) opened at $15.02 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.42. The company has a market cap of $1,225.21, a P/E ratio of 30.53, a P/E/G ratio of 10.80 and a beta of 1.92. E. W. Scripps has a fifty-two week low of $13.88 and a fifty-two week high of $24.15.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 26th. Shareholders of record on Thursday, March 1st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.33%.

COPYRIGHT VIOLATION NOTICE: “Brokerages Anticipate E. W. Scripps Co (SSP) Will Post Quarterly Sales of $268.50 Million” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are reading this piece of content on another publication, it was stolen and republished in violation of U.S. and international copyright law. The original version of this piece of content can be viewed at https://www.dispatchtribunal.com/2018/02/23/brokerages-anticipate-e-w-scripps-co-ssp-will-post-quarterly-sales-of-268-50-million.html.

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.

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

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

Receive News & Ratings for E. W. Scripps Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for E. W. Scripps and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply