Noble Financial Comments on E.W. Scripps FY2024 Earnings

The E.W. Scripps Company (NASDAQ:SSP) – Investment analysts at Noble Financial issued their FY2024 earnings estimates for E.W. Scripps in a report issued on Tuesday, November 5th. Noble Financial analyst M. Kupinski expects that the company will post earnings of ($1.07) per share for the year. Noble Financial also issued estimates for E.W. Scripps’ Q4 2024 earnings at $0.99 EPS.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly 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 negative net margin of 8.55% and a positive return on equity of 8.27%. The company had revenue of $646.30 million during the quarter, compared to analyst estimates of $634.01 million. During the same period in the previous year, the company posted ($0.15) EPS.

Several other equities research analysts have also recently weighed in on the stock. Benchmark decreased their price objective on shares of 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 Stock Performance

NASDAQ:SSP opened at $2.34 on Thursday. The company has a debt-to-equity ratio of 2.24, a quick ratio of 1.50 and a current ratio of 1.34. E.W. Scripps has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The company has a 50 day simple moving average of $2.32 and a two-hundred day simple moving average of $2.75. The company has a market capitalization of $201.52 million, a PE ratio of -0.72 and a beta of 1.66.

Hedge Funds Weigh In On E.W. Scripps

Institutional investors have recently made changes to their positions in the stock. Teton Advisors Inc. grew its position in E.W. Scripps by 0.8% in the 1st quarter. Teton Advisors Inc. now owns 342,600 shares of the company’s stock valued at $1,346,000 after purchasing an additional 2,800 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of E.W. Scripps by 19.6% in the first quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock valued at $210,000 after buying an additional 8,745 shares in the last quarter. Victory Capital Management Inc. grew its holdings 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 valued at $460,000 after buying an additional 9,900 shares during the last quarter. Sei Investments Co. bought a new stake in shares of E.W. Scripps during the second quarter worth about $38,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of E.W. Scripps in the 2nd quarter worth about $39,000. Institutional investors and hedge funds own 67.81% of the company’s stock.

About E.W. Scripps

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.