E. W. Scripps (SSP) Releases Earnings Results, Beats Estimates By $0.04 EPS

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E. W. Scripps (NYSE:SSP) released its earnings results on Friday. The company reported $0.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.04, MarketWatch Earnings reports. The company had revenue of $302.70 million for the quarter, compared to analyst estimates of $292.22 million. During the same quarter in the previous year, the firm earned ($0.03) EPS. The firm’s revenue was up 51.0% on a year-over-year basis.

SSP opened at $16.85 on Friday. E. W. Scripps has a 1-year low of $10.69 and a 1-year high of $18.44.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 26th. Shareholders of record on Friday, December 14th will be issued a dividend of $0.05 per share. The ex-dividend date is Thursday, December 13th. This represents a $0.20 annualized dividend and a yield of 1.19%.

In other E. W. Scripps news, SVP Laura Tomlin sold 3,579 shares of the company’s stock in a transaction on Monday, October 15th. The shares were sold at an average price of $16.08, for a total transaction of $57,550.32. Following the transaction, the senior vice president now owns 3,858 shares in the company, valued at $62,036.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles L. Barmonde acquired 2,438 shares of the stock in a transaction on Monday, October 29th. The shares were acquired at an average price of $15.99 per share, for a total transaction of $38,983.62. Following the acquisition, the director now owns 17,632 shares of the company’s stock, valued at approximately $281,935.68. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 310,542 shares of company stock worth $5,192,641. Corporate insiders own 4.16% of the company’s stock.

A number of research firms recently issued reports on SSP. Stephens set a $15.00 target price on shares of E. W. Scripps and gave the company a “hold” rating in a research report on Tuesday, August 7th. Noble Financial set a $19.00 target price on shares of E. W. Scripps and gave the company a “buy” rating in a research report on Wednesday, August 22nd. Benchmark reiterated a “buy” rating and set a $20.00 target price on shares of E. W. Scripps in a research report on Thursday, October 18th. Finally, Zacks Investment Research upgraded shares of E. W. Scripps from a “hold” rating to a “strong-buy” rating and set a $19.00 target price on the stock in a research report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $18.40.

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About E. W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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Earnings History for E. W. Scripps (NYSE:SSP)

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