E.W. Scripps Co. incurred a loss in the second quarter, after registering a profit in the year-ago quarter. Its revenue, however, increased over the same period.
The broadcasting company reported a loss of a cent per share - compared to the year-ago quarter’s positive earnings of 6 cents a share. Its loss was in line with analysts’ consensus estimates.
Scripps' quarterly revenue of $337.5 million came in higher than the year-ago quarter’s $283.4 million. The figure was also higher than the $335 million that analysts surveyed by FactSet had expected. Revenue from local media was $237 million, +11% higher compared to the same quarter a year ago, while national media revenue was $98.5 million, marking an increase from $68.2 million last year.
CEO Adam Symson seems sanguine about Scripps' M&A strategies. He indicated that recent acquisitions and those in the pipeline would lead to the company owning TV stations in 26 of the top 50 U.S. markets. Scripps would potentially have 60 stations in 42 markets.
The 10-day moving average for SSP crossed bullishly above the 50-day moving average on May 03, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 19, 2024. You may want to consider a long position or call options on SSP as a result. In of 97 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
SSP moved above its 50-day moving average on May 01, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where SSP advanced for three days, in of 287 cases, the price rose further within the following month. The odds of a continued upward trend are .
The 10-day RSI Indicator for SSP moved out of overbought territory on May 07, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 30 similar instances where the indicator moved out of overbought territory. In of the 30 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where SSP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
SSP broke above its upper Bollinger Band on May 06, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Aroon Indicator for SSP entered a downward trend on April 19, 2024. This could indicate a strong downward move is ahead for the stock. Traders may want to consider selling the stock or buying put options.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.494) is normal, around the industry mean (0.808). SSP has a moderately low P/E Ratio (0.000) as compared to the industry average of (12.901). SSP's Projected Growth (PEG Ratio) (0.000) is very low in comparison to the industry average of (0.183). SSP has a moderately low Dividend Yield (0.000) as compared to the industry average of (0.042). P/S Ratio (0.158) is also within normal values, averaging (0.642).
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. SSP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. SSP’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 95, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a publisher of newspapers and operates television stations
Industry Broadcasting