The E.W. Scripps Company Forecasted to Earn Q3 2024 Earnings of $0.25 Per Share (NASDAQ:SSP)

The E.W. Scripps Company (NASDAQ:SSP) – Noble Financial increased their Q3 2024 earnings per share (EPS) estimates for E.W. Scripps in a research report issued to clients and investors on Monday, May 13th. Noble Financial analyst M. Kupinski now expects that the company will earn $0.25 per share for the quarter, up from their previous forecast of $0.19. The consensus estimate for E.W. Scripps’ current full-year earnings is $0.74 per share. Noble Financial also issued estimates for E.W. Scripps’ FY2025 earnings at $0.15 EPS.

E.W. Scripps (NASDAQ:SSP) last released its earnings results on Friday, February 23rd. The company reported ($0.02) earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.48). E.W. Scripps had a positive return on equity of 3.17% and a negative net margin of 39.87%. The business had revenue of $615.77 million during the quarter, compared to analysts’ expectations of $593.00 million.

A number of other research analysts have also weighed in on SSP. Wells Fargo & Company reduced their price objective on E.W. Scripps from $6.00 to $4.50 and set an “equal weight” rating for the company in a research report on Monday. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a report on Saturday, May 11th. Finally, Benchmark reaffirmed a “buy” rating and issued a $14.00 price target on shares of E.W. Scripps in a research report on Monday.

E.W. Scripps Price Performance

Shares of SSP opened at $3.31 on Thursday. The firm’s 50-day simple moving average is $3.76 and its two-hundred day simple moving average is $5.88. E.W. Scripps has a fifty-two week low of $2.93 and a fifty-two week high of $11.02. The stock has a market cap of $280.75 million, a PE ratio of -0.29 and a beta of 1.90. The company has a debt-to-equity ratio of 3.82, a quick ratio of 1.41 and a current ratio of 1.43.

Institutional Investors Weigh In On E.W. Scripps

Several large investors have recently bought and sold shares of the business. Trexquant Investment LP raised its stake in E.W. Scripps by 89.6% during the 3rd quarter. Trexquant Investment LP now owns 86,127 shares of the company’s stock valued at $472,000 after buying an additional 40,710 shares during the last quarter. Hsbc Holdings PLC purchased a new stake in E.W. Scripps during the third quarter valued at $172,000. Assenagon Asset Management S.A. bought a new position in E.W. Scripps in the fourth quarter valued at about $1,032,000. Kestra Private Wealth Services LLC boosted its position in E.W. Scripps by 12.3% in the fourth quarter. Kestra Private Wealth Services LLC now owns 32,034 shares of the company’s stock worth $256,000 after purchasing an additional 3,500 shares during the last quarter. Finally, PAX Financial Group LLC boosted its position in E.W. Scripps by 4.4% in the third quarter. PAX Financial Group LLC now owns 54,225 shares of the company’s stock worth $297,000 after purchasing an additional 2,282 shares during the last quarter. 67.81% of the stock is currently owned by institutional investors.

E.W. Scripps Company Profile

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.