E.W. Scripps (NASDAQ:SSP) Posts Quarterly Earnings Results, Misses Estimates By $0.52 EPS

E.W. Scripps (NASDAQ:SSPGet Free Report) posted its quarterly earnings results on Wednesday. The company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.52), Zacks reports. E.W. Scripps had a negative net margin of 4.69% and a negative return on equity of 0.26%. The company had revenue of $560.26 million during the quarter, compared to analysts’ expectations of $550.82 million.

E.W. Scripps Stock Up 8.0%

SSP stock traded up $0.30 during midday trading on Friday, hitting $3.99. The company’s stock had a trading volume of 373,569 shares, compared to its average volume of 468,610. The firm has a market capitalization of $353.87 million, a P/E ratio of -2.13 and a beta of 0.62. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 3.13. E.W. Scripps has a 52-week low of $1.36 and a 52-week high of $4.98. The firm has a 50-day simple moving average of $3.67 and a 200-day simple moving average of $3.32.

Analysts Set New Price Targets

SSP has been the subject of several analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of E.W. Scripps in a report on Monday, December 22nd. Wells Fargo & Company boosted their price target on shares of E.W. Scripps from $3.00 to $3.90 and gave the company an “equal weight” rating in a research report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.95.

View Our Latest Stock Analysis on E.W. Scripps

Hedge Funds Weigh In On E.W. Scripps

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Empowered Funds LLC increased its position in shares of E.W. Scripps by 8.6% in the 1st quarter. Empowered Funds LLC now owns 316,113 shares of the company’s stock valued at $936,000 after purchasing an additional 25,070 shares during the last quarter. Strs Ohio purchased a new position in shares of E.W. Scripps during the first quarter worth approximately $117,000. Geode Capital Management LLC grew its position in shares of E.W. Scripps by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,516,298 shares of the company’s stock worth $4,459,000 after acquiring an additional 10,957 shares during the last quarter. Creative Planning increased its stake in E.W. Scripps by 111.4% in the second quarter. Creative Planning now owns 49,518 shares of the company’s stock valued at $146,000 after purchasing an additional 26,090 shares during the period. Finally, American Century Companies Inc. increased its position in E.W. Scripps by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 152,443 shares of the company’s stock valued at $448,000 after acquiring an additional 19,393 shares during the period. 67.81% of the stock is owned by institutional investors and hedge funds.

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E.W. Scripps Company Profile

(Get Free Report)

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

See Also

Earnings History for E.W. Scripps (NASDAQ:SSP)

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