E. W. Scripps (SSP) Posts Earnings Results

E. W. Scripps (NYSE:SSP) released its quarterly earnings results on Friday. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03), MarketWatch Earnings reports. The business had revenue of $292.20 million for the quarter, compared to the consensus estimate of $288.81 million. During the same quarter last year, the business earned ($0.07) EPS. The company’s quarterly revenue was up 14.9% compared to the same quarter last year.

SSP stock opened at $21.60 on Friday. E. W. Scripps has a 52 week low of $12.16 and a 52 week high of $23.41.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Friday, June 14th will be given a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.93%.

In other E. W. Scripps news, major shareholder Mary Peirce acquired 10,840 shares of the stock in a transaction dated Wednesday, February 13th. The shares were bought at an average price of $19.00 per share, with a total value of $205,960.00. Following the purchase, the insider now directly owns 36,779 shares of the company’s stock, valued at approximately $698,801. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian G. Lawlor sold 11,000 shares of E. W. Scripps stock in a transaction that occurred on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total transaction of $220,000.00. Following the completion of the transaction, the insider now directly owns 90,571 shares in the company, valued at approximately $1,811,420. The disclosure for this sale can be found here. Over the last 90 days, insiders have acquired 33,335 shares of company stock worth $646,334 and have sold 12,400 shares worth $251,514. 4.16% of the stock is currently owned by insiders.

SSP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of E. W. Scripps from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research report on Thursday, January 17th. Benchmark restated a “buy” rating and set a $26.00 price target (up from $22.00) on shares of E. W. Scripps in a research report on Monday, March 4th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $20.50.

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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 for E. W. Scripps (NYSE:SSP)

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