Brokerages expect E. W. Scripps Co (NYSE:SSP) to report $268.50 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for E. W. Scripps’ earnings. The highest sales estimate is $269.20 million and the lowest is $267.66 million. E. W. Scripps posted sales of $272.69 million in the same quarter last year, which suggests a negative year over year growth rate of 1.5%. The firm is expected to announce its next earnings results on Friday, February 23rd.

According to Zacks, analysts expect that E. W. Scripps will report full year sales of $268.50 million for the current year, with estimates ranging from $926.93 million to $929.80 million. For the next financial year, analysts anticipate that the firm will report sales of $1.17 billion per share, with estimates ranging from $1.10 billion to $1.23 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for E. W. Scripps.

E. W. Scripps (NYSE:SSP) last announced its earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.02. E. W. Scripps had a net margin of 1.95% and a return on equity of 4.37%. The business had revenue of $216.45 million during the quarter, compared to analysts’ expectations of $219.04 million. During the same period in the prior year, the company earned $0.15 earnings per share. The firm’s revenue was down 7.1% on a year-over-year basis.

SSP has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Saturday, October 21st. Benchmark dropped their price target on shares of E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Monday, November 6th. ValuEngine lowered shares of E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Tuesday, November 14th. Guggenheim initiated coverage on shares of E. W. Scripps in a research report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 target price for the company. Finally, Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research report on Wednesday, October 4th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $19.75.

E. W. Scripps (SSP) opened at $15.75 on Wednesday. The firm has a market cap of $1,300.56, a P/E ratio of 71.59 and a beta of 1.93. E. W. Scripps has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.27 and a quick ratio of 3.27.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of E. W. Scripps by 1.3% in the second quarter. Vanguard Group Inc. now owns 5,097,074 shares of the company’s stock valued at $90,779,000 after acquiring an additional 63,426 shares during the period. Royce & Associates LP increased its stake in E. W. Scripps by 35.4% in the 2nd quarter. Royce & Associates LP now owns 433,710 shares of the company’s stock worth $7,724,000 after buying an additional 113,500 shares during the period. Engineers Gate Manager LP increased its stake in E. W. Scripps by 131.9% in the 2nd quarter. Engineers Gate Manager LP now owns 58,461 shares of the company’s stock worth $1,041,000 after buying an additional 33,248 shares during the period. Russell Investments Group Ltd. increased its stake in E. W. Scripps by 27.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 299,391 shares of the company’s stock worth $5,721,000 after buying an additional 63,700 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its stake in E. W. Scripps by 28.0% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 16,480 shares of the company’s stock worth $293,000 after buying an additional 3,600 shares during the period. Institutional investors and hedge funds own 77.81% of the company’s stock.

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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’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 (NYSE:SSP)

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