Wall Street brokerages forecast that E.W. Scripps Company (The) (NYSE:SSP) will report $221.18 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for E.W. Scripps Company (The)’s earnings, with the highest sales estimate coming in at $222.50 million and the lowest estimate coming in at $219.33 million. E.W. Scripps Company (The) posted sales of $233.04 million during the same quarter last year, which would indicate a negative year-over-year growth rate of 5.1%. The company is expected to report its next earnings results on Friday, November 3rd.

On average, analysts expect that E.W. Scripps Company (The) will report full year sales of $221.18 million for the current year, with estimates ranging from $909.80 million to $948.30 million. For the next fiscal year, analysts forecast that the company will post sales of $1.18 billion per share, with estimates ranging from $1.07 billion to $1.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side analysts that cover E.W. Scripps Company (The).

E.W. Scripps Company (The) (NYSE:SSP) last issued its quarterly earnings data on Thursday, August 3rd. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.06 by $0.02. E.W. Scripps Company (The) had a return on equity of 5.90% and a net margin of 6.05%. The company had revenue of $231.82 million during the quarter, compared to analyst estimates of $232.04 million. During the same quarter in the previous year, the company posted $0.14 earnings per share. E.W. Scripps Company (The)’s revenue was up 1.8% compared to the same quarter last year.

Several brokerages have weighed in on SSP. Benchmark Co. reaffirmed a “buy” rating and set a $26.00 price target on shares of E.W. Scripps Company (The) in a research report on Thursday, July 13th. Jefferies Group LLC reiterated a “hold” rating and issued a $20.00 price objective on shares of E.W. Scripps Company (The) in a report on Friday, July 14th. Zacks Investment Research upgraded E.W. Scripps Company (The) from a “sell” rating to a “hold” rating in a report on Thursday, May 11th. BidaskClub upgraded E.W. Scripps Company (The) from a “sell” rating to a “hold” rating in a report on Wednesday, June 28th. Finally, Noble Financial reiterated a “buy” rating on shares of E.W. Scripps Company (The) in a report on Wednesday, August 2nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.00.

E.W. Scripps Company (NYSE SSP) traded down 0.78% during mid-day trading on Wednesday, reaching $17.86. The company’s stock had a trading volume of 50,786 shares. The stock has a 50-day moving average price of $18.60 and a 200-day moving average price of $19.86. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 26.07 and a beta of 2.01. E.W. Scripps Company has a one year low of $12.16 and a one year high of $24.15.

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Several hedge funds have recently modified their holdings of SSP. US Bancorp DE grew its stake in shares of E.W. Scripps Company (The) by 2.3% during the first quarter. US Bancorp DE now owns 146,142 shares of the company’s stock worth $3,426,000 after purchasing an additional 3,229 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in E.W. Scripps Company (The) by 41.5% in the first quarter. UBS Asset Management Americas Inc. now owns 15,335 shares of the company’s stock valued at $359,000 after acquiring an additional 4,500 shares during the last quarter. Ameriprise Financial Inc. lifted its position in E.W. Scripps Company (The) by 3.2% in the first quarter. Ameriprise Financial Inc. now owns 294,819 shares of the company’s stock valued at $6,910,000 after acquiring an additional 9,222 shares during the last quarter. Eagle Asset Management Inc. purchased a new stake in E.W. Scripps Company (The) in the first quarter valued at $15,360,000. Finally, Parametric Portfolio Associates LLC lifted its position in E.W. Scripps Company (The) by 60.4% in the first quarter. Parametric Portfolio Associates LLC now owns 81,900 shares of the company’s stock valued at $1,920,000 after acquiring an additional 30,844 shares during the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

About E.W. Scripps Company (The)

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’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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Earnings History and Estimates for E.W. Scripps Company (The) (NYSE:SSP)

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