E.W. Scripps Co. (NASDAQ:SSP) shares, rose in value, with the stock price up by 5.18% to the previous day’s close as strong demand from buyers drove the stock to $3.45.
Actively observing the price movement in the last trading, the stock closed the session at $3.28. The value of beta (5-year monthly) was 1.94. Referring to stock’s 52-week performance, its high was $11.02, and the low was $3.21. On the whole, SSP has fluctuated by -25.16% over the past month.
With the market capitalization of E.W. Scripps Co. currently standing at about $291.94 million, investors are eagerly awaiting this quarter’s results, scheduled for May 03, 2024 – May 07, 2024. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be -$0.17, which is expected to increase to $0.18 for fiscal year $1.01 and then to about $0.01 by fiscal year 2025. Data indicates that the EPS growth is expected to be 108.50% in 2025, while the next year’s EPS growth is forecast to be -99.00%.
Analysts have estimated the company’s revenue for the quarter at $566.43 million, with a low estimate of $565.5 million and a high estimate of $567.8 million. According to the average forecast, sales growth in current quarter could jump up 7.30%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2025, the company’s y-o-y revenues would reach $2.5 billion, representing an increase of 9.10% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that SSP’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of SSP currently trading nearly -11.65% and -36.55% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 38.36, while the 7-day volatility ratio is showing 11.36% which for the 30-day chart, stands at 9.02%. Furthermore, E.W. Scripps Co. (SSP)’s beta value is 1.94, and its average true range (ATR) is 0.42.
A comparison of E.W. Scripps Co. (SSP) with its peers suggests the former has fared considerably weaker in the market. SSP showed an intraday change of 5.18% in last session, and over the past year, it shrunk by -63.34%%.
Data on historical trading for E.W. Scripps Co. (NASDAQ:SSP) indicates that the trading volumes over the past 10 days have averaged 2.67 million and over the past 3 months, they’ve averaged 949.97K. According to company’s latest data on outstanding shares, there are 72.84 million shares outstanding.
Nearly 28.19% of E.W. Scripps Co.’s shares belong to company insiders and institutional investors own 68.61% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.68 million shares as on Mar 15, 2024, resulting in a short ratio of 4.42. According to the data, the short interest in E.W. Scripps Co. (SSP) stood at 5.49% of shares outstanding as of Mar 15, 2024; the number of short shares registered in Feb 15, 2024 reached 2.45 million. The stock has fallen by -56.82% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the SSP stock heading into the next quarter.
