Jefferies Group Equities Analysts Raise Earnings Estimates for E.W. Scripps Co. (SSP)
E.W. Scripps Co. (NYSE:SSP) – Stock analysts at Jefferies Group boosted their Q2 2017 EPS estimates for shares of E.W. Scripps in a research note issued on Monday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will post earnings per share of $0.17 for the quarter, up from their prior estimate of $0.16. Jefferies Group has a “Hold” rating on the stock.
SSP has been the subject of several other reports. Zacks Investment Research raised shares of E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Saturday, July 9th. Wells Fargo & Co. reissued a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of C$22.05.
Shares of E.W. Scripps (NYSE:SSP) traded down 2.27% during midday trading on Tuesday, reaching $15.48. 272,681 shares of the company’s stock traded hands. E.W. Scripps has a 52-week low of $14.52 and a 52-week high of $22.91. The stock’s market cap is $1.29 billion. The stock has a 50 day moving average of $16.38 and a 200-day moving average of $16.26.
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, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $228 million for the quarter, compared to analyst estimates of $198.13 million. E.W. Scripps had a negative net margin of 3.56% and a positive return on equity of 2.72%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.15) EPS.
Large investors have recently made changes to their positions in the stock. Kennedy Capital Management Inc. increased its stake in shares of E.W. Scripps by 14.8% in the first quarter. Kennedy Capital Management Inc. now owns 1,099,579 shares of the company’s stock valued at $17,142,000 after buying an additional 141,979 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of E.W. Scripps during the second quarter valued at about $266,000. Tower Research Capital LLC TRC increased its stake in shares of 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 valued at $146,000 after buying an additional 9,138 shares in the last quarter. Royce & Associates LP increased its stake in shares of E.W. Scripps by 18.4% in the second quarter. Royce & Associates LP now owns 1,010,910 shares of the company’s stock valued at $16,013,000 after buying an additional 157,260 shares in the last quarter. Finally, Bank of Montreal Can acquired a new stake in shares of E.W. Scripps during the second quarter valued at about $129,000. 75.15% of the stock is owned by institutional investors and hedge funds.
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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