Noble Financial Estimates E.W. Scripps FY2024 Earnings

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

Other equities research analysts have also issued research reports about the company. Benchmark lowered their price objective on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday. StockNews.com upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research note on Tuesday.

E.W. Scripps Trading Up 2.1 %

Shares of SSP opened at $2.40 on Thursday. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.34 and a quick ratio of 1.50. E.W. Scripps has a 12 month low of $1.68 and a 12 month high of $9.35. The stock has a market cap of $206.68 million, a PE ratio of -0.79 and a beta of 1.66. The stock’s 50-day moving average is $2.31 and its two-hundred day moving average is $2.75.

E.W. Scripps (NASDAQ:SSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). The company had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 8.27%. During the same period in the prior year, the firm earned ($0.15) earnings per share.

Hedge Funds Weigh In On E.W. Scripps

Several hedge funds and other institutional investors have recently modified their holdings of the company. Assenagon Asset Management S.A. lifted its holdings in E.W. Scripps by 1,619.1% in the second quarter. Assenagon Asset Management S.A. now owns 2,203,186 shares of the company’s stock worth $6,918,000 after purchasing an additional 2,075,027 shares during the period. AQR Capital Management LLC boosted its holdings in shares of E.W. Scripps by 1,154.7% in the second quarter. AQR Capital Management LLC now owns 2,404,607 shares of the company’s stock valued at $7,550,000 after acquiring an additional 2,212,959 shares in the last quarter. Marshall Wace LLP bought a new position in shares of E.W. Scripps in the second quarter valued at approximately $1,833,000. Empowered Funds LLC increased its stake in shares of E.W. Scripps by 8.1% during the first quarter. Empowered Funds LLC now owns 243,868 shares of the company’s stock valued at $958,000 after acquiring an additional 18,375 shares during the period. Finally, Cubist Systematic Strategies LLC raised its holdings in E.W. Scripps by 2,290.0% during the second quarter. Cubist Systematic Strategies LLC now owns 389,976 shares of the company’s stock worth $1,225,000 after purchasing an additional 373,659 shares in the last quarter. 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.