Stock Story -
Media, broadcasting, and digital services company E.W. Scripps (NASDAQ:SSP) will be reporting results tomorrow before market hours. Here's what you need to know.
Last quarter E.W. Scripps reported revenues of $566.5 million, down 7.4% year on year, in line with analyst expectations. It was a very good quarter for the company, with an impressive beat of analysts' earnings estimates.
Is E.W. Scripps buy or sell heading into the earnings? Find out by reading the original article on StockStory.
This quarter analysts are expecting E.W. Scripps's revenue to decline 11.6% year on year to $602 million, a deceleration on the 9.4% year-over-year increase in revenue the company had recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.31 per share.
Majority of analysts covering the company have reconfirmed their estimates over the last thirty days, suggesting they are expecting the business to stay the course heading into the earnings. The company missed Wall St's revenue estimates five times over the last two years.
Looking at E.W. Scripps's peers in the consumer discretionary segment, some of them have already reported Q4 earnings results, giving us a hint what we can expect. FOX's revenues decreased 8.1% year on year, beating analyst estimates by 0.5% and AMC Networks reported revenue decline of 29.6% year on year, exceeding estimates by 0.7%. FOX traded up 5% on the results, and AMC Networks was up 2.8%.
Read the full analysis of FOX's and AMC Networks's results on StockStory.
Investors in the consumer discretionary segment have had steady hands going into the earnings, with the stocks down on average 1.2% over the last month. E.W. Scripps is down 33.2% during the same time, and is heading into the earnings with analyst price target of $11.4, compared to share price of $5.5.
