E. W. Scripps (SSP) Posts Earnings Results, Misses Expectations By $0.03 EPS

E. W. Scripps (NYSE:SSP) announced its earnings results on Friday. The company reported ($0.08) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.03), MarketWatch Earnings reports. The firm had revenue of $292.20 million during the quarter, compared to the consensus estimate of $288.81 million. The company’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.07) EPS.

Shares of NYSE SSP traded down $1.56 during trading hours on Friday, reaching $21.60. 812,375 shares of the stock were exchanged, compared to its average volume of 432,434. E. W. Scripps has a 52 week low of $12.16 and a 52 week high of $23.41.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Friday, June 14th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, June 13th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.93%.

SSP has been the topic of a number of recent research reports. Zacks Investment Research lowered E. W. Scripps from a “buy” rating to a “hold” rating and set a $21.00 target price on the stock. in a research note on Saturday, January 26th. Benchmark reiterated a “buy” rating and set a $26.00 target price (up previously from $22.00) on shares of E. W. Scripps in a research note on Monday, March 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $20.50.

In related news, major shareholder Mary Peirce acquired 10,840 shares of the stock in a transaction on Wednesday, February 13th. The shares were purchased at an average price of $19.00 per share, for a total transaction of $205,960.00. Following the purchase, the insider now directly owns 36,779 shares in the company, valued at $698,801. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Brian G. Lawlor sold 11,000 shares of the firm’s stock in a transaction on Wednesday, February 27th. The stock was sold at an average price of $20.00, for a total value of $220,000.00. Following the transaction, the insider now owns 90,571 shares in the company, valued at approximately $1,811,420. The disclosure for this sale can be found here. In the last 90 days, insiders have acquired 33,335 shares of company stock worth $646,334 and have sold 12,400 shares worth $251,514. 4.16% of the stock is owned by company insiders.

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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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