E.W. Scripps (NASDAQ:SSP) Releases Earnings Results, Misses Expectations By $0.19 EPS

Posted by Hayley Millar on Nov 7th, 2024

E.W. Scripps (NASDAQ:SSP – Get Free Report) issued its earnings results on Monday. The company reported $0.37 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.19), Zacks reports. The firm had revenue of $646.30 million during the quarter, compared to the consensus estimate of $634.01 million. E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. During the same period in the prior year, the company posted ($0.15) EPS.

E.W. Scripps Trading Up 2.6 %

Shares of SSP stock traded up $0.06 during trading hours on Wednesday, reaching $2.35. 1,821,508 shares of the stock were exchanged, compared to its average volume of 893,419. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79. E.W. Scripps has a 12-month low of $1.68 and a 12-month high of $9.35. The firm has a market capitalization of $202.38 million, a price-to-earnings ratio of -0.64 and a beta of 1.66. The company’s 50-day moving average price is $2.31 and its 200-day moving average price is $2.75.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SSP. Benchmark dropped 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.

Read Our Latest Stock Report on E.W. Scripps

About E.W. Scripps

(Get Free Report)

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.