E.W. Scripps Co. (SSP) Expected to Earn Q2 2017 Earnings of $0.17 Per Share
E.W. Scripps Co. (NYSE:SSP) – Jefferies Group raised their Q2 2017 earnings per share (EPS) estimates for shares of E.W. Scripps in a research report issued to clients and investors on Monday. Jefferies Group analyst J. Janedis now anticipates that the firm will earn $0.17 per share for the quarter, up from their prior forecast of $0.16. Jefferies Group has a “Hold” rating on the stock.
Several other brokerages have also recently weighed in on SSP. Zacks Investment Research cut E.W. Scripps from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Wells Fargo & Co. reiterated a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. E.W. Scripps presently has an average rating of “Buy” and a consensus price target of C$22.05.
Shares of E.W. Scripps (NYSE:SSP) traded down 2.27% during midday trading on Tuesday, reaching $15.48. The company had a trading volume of 272,664 shares. The company’s market capitalization is $1.29 billion. The company has a 50-day moving average price of $16.38 and a 200 day moving average price of $16.26. E.W. Scripps has a one year low of $14.52 and a one year high of $22.91.
E.W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The business earned $228 million during the quarter, compared to the consensus estimate of $198.13 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. E.W. Scripps’s revenue was up 15.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Teacher Retirement System of Texas boosted its position in E.W. Scripps by 9.5% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the company’s stock worth $119,000 after buying an additional 653 shares during the last quarter. Bank of Montreal Can purchased a new position in E.W. Scripps during the second quarter worth approximately $129,000. Tower Research Capital LLC TRC boosted its position in E.W. Scripps by 11,567.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $146,000 after buying an additional 9,138 shares during the last quarter. Mason Street Advisors LLC purchased a new position in E.W. Scripps during the second quarter worth approximately $165,000. Finally, Cubist Systematic Strategies LLC purchased a new position in E.W. Scripps during the second quarter worth approximately $178,000. Institutional investors own 75.15% of the company’s stock.
About E.W. Scripps
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 operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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