Brokers Issue Forecasts for E.W. Scripps FY2024 Earnings

The E.W. Scripps Company (NASDAQ:SSP - Free Report) - Noble Financial issued their FY2024 EPS estimates for E.W. Scripps in a research note issued on Tuesday, November 5th. Noble Financial analyst M. Kupinski forecasts that the company will post earnings per share of ($1.07) for the year. Noble Financial also issued estimates for E.W. Scripps' Q4 2024 earnings at $0.99 EPS.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 8.27% and a negative net margin of 8.55%. The business had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. During the same quarter last year, the business posted ($0.15) earnings per share.

Several other analysts also recently weighed in on SSP. Benchmark decreased their target price on E.W. Scripps from $11.00 to $7.00 and set a "buy" rating for the company in a research report on Tuesday. StockNews.com upgraded E.W. Scripps from a "sell" rating to a "hold" rating in a report on Tuesday.

E.W. Scripps Trading Up 2.1 %

Shares of NASDAQ:SSP traded up $0.05 on Thursday, hitting $2.40. 1,117,899 shares of the company's stock were exchanged, compared to its average volume of 894,462. E.W. Scripps has a 12 month low of $1.68 and a 12 month high of $9.35. The stock has a market capitalization of $206.68 million, a price-to-earnings ratio of -0.79 and a beta of 1.66. The business's 50 day simple moving average is $2.31 and its two-hundred day simple moving average is $2.75. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.34 and a quick ratio of 1.50.

Hedge Funds Weigh In On E.W. Scripps

A number of large investors have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans raised its holdings in E.W. Scripps by 18.0% in the third quarter. Thrivent Financial for Lutherans now owns 494,507 shares of the company's stock worth $1,110,000 after purchasing an additional 75,380 shares in the last quarter. Empowered Funds LLC grew its stake in shares of E.W. Scripps by 5.4% during the third quarter. Empowered Funds LLC now owns 276,838 shares of the company's stock worth $622,000 after acquiring an additional 14,070 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of E.W. Scripps by 5.1% during the third quarter. Victory Capital Management Inc. now owns 204,900 shares of the company's stock worth $460,000 after acquiring an additional 9,900 shares during the last quarter. GSA Capital Partners LLP grew its stake in shares of E.W. Scripps by 1,335.9% during the third quarter. GSA Capital Partners LLP now owns 612,366 shares of the company's stock worth $1,375,000 after acquiring an additional 569,720 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of E.W. Scripps by 33.1% during the third quarter. Los Angeles Capital Management LLC now owns 166,906 shares of the company's stock worth $375,000 after acquiring an additional 41,525 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.