Analysts expect E. W. Scripps (NYSE:SSP) to report $289.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for E. W. Scripps’ earnings, with estimates ranging from $287.00 million to $291.30 million. E. W. Scripps reported sales of $216.45 million during the same quarter last year, which indicates a positive year over year growth rate of 33.6%. The business is scheduled to issue its next quarterly earnings results before the market opens on Friday, November 9th.
According to Zacks, analysts expect that E. W. Scripps will report full year sales of $1.16 billion for the current year, with estimates ranging from $1.15 billion to $1.17 billion. For the next year, analysts forecast that the company will post sales of $1.17 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that cover E. W. Scripps.
Several equities analysts recently issued reports on the company. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday. Zacks Investment Research upgraded E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a research report on Tuesday, October 9th. Benchmark restated a “buy” rating and issued a $20.00 price target on shares of E. W. Scripps in a research report on Thursday, October 18th. Finally, Stephens set a $15.00 price target on E. W. Scripps and gave the company a “hold” rating in a research report on Tuesday, August 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $18.40.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of New York Mellon Corp increased its position in E. W. Scripps by 3.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock worth $33,678,000 after purchasing an additional 79,568 shares during the period. Litespeed Management L.L.C. increased its position in E. W. Scripps by 3.6% during the 2nd quarter. Litespeed Management L.L.C. now owns 433,529 shares of the company’s stock worth $5,805,000 after purchasing an additional 15,000 shares during the period. Cove Street Capital LLC increased its position in E. W. Scripps by 8.8% during the 2nd quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock worth $53,901,000 after purchasing an additional 326,712 shares during the period. Public Employees Retirement System of Ohio increased its position in 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 purchasing an additional 17,580 shares during the period. Finally, California Public Employees Retirement System increased its position in 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 purchasing an additional 6,476 shares during the period. Institutional investors own 77.70% of the company’s stock.
Shares of SSP stock opened at $17.70 on Thursday. E. W. Scripps has a 52-week low of $10.69 and a 52-week high of $18.20.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.13%.
E. W. Scripps Company Profile
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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