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Can Scripps (SSP) Run Higher on Strong Earnings Estimate Revisions?

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The E.W. Scripps Company is an operator of media enterprise with interests in local and national media brands that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on SSP’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Scripps could be a solid choice for investors.

Current Quarter Estimates for SSP

In the past 60 days, one estimate has gone higher for Scripps while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 8 cents a share 60 days ago, to 11 cents today, a move of 37.5%.

Current Year Estimates for SSP

Meanwhile, Scripps’s current year figures are also looking quite promising, with two estimates moving higher in the past 60 days, compared to one lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 60 cents per share 60 days ago to 71 cents per share today, an increase of 18.3%.

Bottom Line

The stock has also started to move higher lately, adding 5.6% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So, investors may want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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