Friday, February 12, 2021
E.W. Scripps Company (SSP)
Insights On the Upcoming Quarter; Raising Price Target
The E.W. Scripps Co. (www.scripps.com) serves audiences and businesses through a growing portfolio of television, print and digital media brands. After approval of its acquisition of two Granite Broadcasting stations later this year, Scripps will own 21 local television stations as well as daily newspapers in 13 markets across the United States. It also runs an expanding collection of local and national digital journalism and information businesses including digital video news service Newsy. Scripps also produces television programming, runs an award-winning investigative reporting newsroom in Washington, D.C., and serves as the longtime steward of one of the nation’s largest, most successful and longest-running educational programs, Scripps National Spelling Bee. Founded in 1879, Scripps is focused on the stories of tomorrow.
Michael Kupinski, Director of Research, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Highlights from NobleCon 17. Jason Combs, VP, Planning, Budgeting & Forecasting, and Carolyn Pione Micheli, VP, Communications & Investor Relations, provide current advertising insights at Noble’s 17th annual equity conference. A replay of the presentation and Q&A may be obtain by clicking here. Based on the presentation and Q&A, we have increased our Q4 revenue and cash flow estimates.
Exceeds original Q4 guidance. Management indicated that Q4 core advertising is better than its November guidance in both core advertising and in its National Media segment. Local core is better than its guidance of down mid teens and National Media exceeded its guidance of low double digit revenue growth. Revenue momentum continues into the first quarter …
This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.