E.W. Scripps (NASDAQ:SSP) Announces Earnings Results

E.W. Scripps (NASDAQ:SSP) issued its earnings results on Thursday. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.27, Zacks reports. The business had revenue of $544.86 million during the quarter, compared to analysts’ expectations of $545.47 million. E.W. Scripps had a negative return on equity of 4.58% and a negative net margin of 58.02%.

E.W. Scripps Trading Up 3.4%

Shares of SSP traded up $0.10 during mid-day trading on Friday, reaching $3.05. 1,760,701 shares of the company were exchanged, compared to its average volume of 786,764. E.W. Scripps has a 52 week low of $1.92 and a 52 week high of $5.39. The company has a debt-to-equity ratio of 3.08, a quick ratio of 1.34 and a current ratio of 1.34. The stock has a market capitalization of $282.64 million, a PE ratio of -0.23 and a beta of 0.71. The business has a 50 day simple moving average of $2.85 and a two-hundred day simple moving average of $3.38.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SSP shares. Weiss Ratings restated a “sell (d)” rating on shares of E.W. Scripps in a report on Wednesday, August 26th. Wells Fargo & Company decreased their price target on shares of E.W. Scripps from $4.70 to $3.80 and set an “equal weight” rating for the company in a research report on Tuesday, August 11th. Finally, Wall Street Zen raised shares of E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.90.

About E.W. Scripps

The E.W. Scripps Company (NASDAQ: SSP) is an American media company that operates local television stations, national news services and digital media businesses. Its local media operations provide broadcast news, weather, sports and community programming, while its national offerings include Scripps News and Court TV.

Scripps distributes content through over-the-air television, digital platforms and streaming services. The company also operates ION, a national broadcast network known for entertainment programming, as well as other television and digital brands.