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Media, broadcasting, and digital services company E.W. Scripps (NASDAQ: SSP)
will be reporting results tomorrow after market close. Here’s what you need to know.
E.W. Scripps met analysts’ revenue expectations last quarter, reporting revenues of $728.4 million, up 18.3% year on year. It was a slower quarter for the company, with a miss of analysts’ EPS estimates.
This quarter, analysts are expecting E.W. Scripps’s revenue to decline 7.2% year on year to $520.8 million, a reversal from the 6.4% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. E.W. Scripps has missed Wall Street’s revenue estimates three times over the last two years.
Looking at E.W. Scripps’s peers in the consumer discretionary segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Hasbro delivered year-on-year revenue growth of 17.1%, beating analysts’ expectations by 14.8%, and Live Nation reported a revenue decline of 11%, falling short of estimates by 2.8%. Hasbro traded up 15.9% following the results while Live Nation was also up 1.9%.
There has been positive sentiment among investors in the consumer discretionary segment, with share prices up 12.7% on average over the last month. E.W. Scripps is up 11.4% during the same time and is heading into earnings with an average analyst price target of $5.45 (compared to the current share price of $2.45).
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