E.W. Scripps Co. (NYSE:SSP) – Equities research analysts at Jefferies Group lifted their Q2 2017 earnings per share (EPS) estimates for shares of E.W. Scripps in a report issued on Monday. Jefferies Group analyst J. Janedis now forecasts that the brokerage will post earnings per share of $0.17 for the quarter, up from their prior forecast of $0.16. Jefferies Group currently has a “Hold” rating on the stock.
Several other equities analysts have also issued reports on the company. Wells Fargo & Co. restated a “hold” rating on shares of E.W. Scripps in a research report on Monday, September 26th. Zacks Investment Research cut E.W. Scripps from a “buy” rating to a “hold” rating in a report on Wednesday, August 10th. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. E.W. Scripps presently has an average rating of “Buy” and an average target price of C$22.05.
Shares of E.W. Scripps (NYSE:SSP) traded down 2.27% during midday trading on Tuesday, reaching $15.48. The company had a trading volume of 272,681 shares. The company has a 50-day moving average price of $16.38 and a 200 day moving average price of $16.26. E.W. Scripps has a one year low of $14.52 and a one year high of $22.91. The company’s market capitalization is $1.29 billion.
E.W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The business earned $228 million during the quarter, compared to the consensus estimate of $198.13 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. E.W. Scripps’s revenue was up 15.0% compared to the same quarter last year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. Kennedy Capital Management Inc. boosted its position in E.W. Scripps by 14.8% in the first quarter. Kennedy Capital Management Inc. now owns 1,099,579 shares of the company’s stock worth $17,142,000 after buying an additional 141,979 shares during the last quarter. Deroy & Devereaux Private Investment Counsel Inc. boosted its position in E.W. Scripps by 1.2% in the second quarter. Deroy & Devereaux Private Investment Counsel Inc. now owns 683,711 shares of the company’s stock worth $10,830,000 after buying an additional 7,840 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in E.W. Scripps by 1.8% in the second quarter. Nisa Investment Advisors LLC now owns 11,300 shares of the company’s stock worth $179,000 after buying an additional 200 shares during the last quarter. Punch & Associates Investment Management Inc. boosted its position in E.W. Scripps by 0.4% in the second quarter. Punch & Associates Investment Management Inc. now owns 556,371 shares of the company’s stock worth $8,813,000 after buying an additional 2,360 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in E.W. Scripps by 44.0% in the second quarter. Nordea Investment Management AB now owns 720,312 shares of the company’s stock worth $11,410,000 after buying an additional 220,220 shares during the last quarter. Institutional investors own 75.15% of the company’s stock.
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 operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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