Q3 2017 EPS Estimates for E.W. Scripps Company (The) (SSP) Lowered by Jefferies Group

E.W. Scripps Company (The) (NYSE:SSP) – Analysts at Jefferies Group dropped their Q3 2017 earnings per share (EPS) estimates for E.W. Scripps Company (The) in a research note issued to investors on Wednesday. Jefferies Group analyst J. Janedis now expects that the company will post earnings of ($0.06) per share for the quarter, down from their previous forecast of ($0.03). Jefferies Group currently has a “Hold” rating and a $20.00 target price on the stock.

A number of other research firms have also recently weighed in on SSP. BidaskClub upgraded E.W. Scripps Company (The) from a “hold” rating to a “buy” rating in a research note on Monday, July 31st. Noble Financial restated a “buy” rating on shares of E.W. Scripps Company (The) in a research note on Wednesday, August 2nd. Zacks Investment Research cut E.W. Scripps Company (The) from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Benchmark Co. restated a “buy” rating and issued a $26.00 price target on shares of E.W. Scripps Company (The) in a research note on Thursday, July 13th. Finally, Guggenheim assumed coverage on E.W. Scripps Company (The) in a research note on Wednesday, October 18th. They issued a “neutral” rating and a $19.00 price target on the stock. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. E.W. Scripps Company (The) has an average rating of “Hold” and an average price target of $21.25.

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E.W. Scripps Company (NYSE SSP) opened at 17.23 on Monday. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 25.15 and a beta of 2.02. The company’s 50-day moving average is $18.08 and its 200-day moving average is $18.69. E.W. Scripps Company has a 12 month low of $12.16 and a 12 month high of $24.15.

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

A number of hedge funds have recently bought and sold shares of the business. PNC Financial Services Group Inc. increased its position in E.W. Scripps Company (The) by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock worth $102,000 after buying an additional 26 shares during the period. Alps Advisors Inc. increased its position in E.W. Scripps Company (The) by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,984 shares of the company’s stock worth $374,000 after buying an additional 54 shares during the period. Louisiana State Employees Retirement System increased its position in E.W. Scripps Company (The) by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock worth $408,000 after buying an additional 100 shares during the period. Arizona State Retirement System increased its position in E.W. Scripps Company (The) by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 29,358 shares of the company’s stock worth $523,000 after buying an additional 200 shares during the period. Finally, Texas Permanent School Fund increased its position in E.W. Scripps Company (The) by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock worth $733,000 after buying an additional 579 shares during the period. Hedge funds and other institutional investors own 74.97% 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.

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

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