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E.W. Scripps Company (SSP)
Why Is Scripps Among Our 2020 Favorites?
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 nationï¿½s 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.
Influx of cash. Free cash flow is estimated to be as much as $250 million in 2020 due to a combination of strong, high margins, Political advertising and a step up of an estimated $70 million in Retransmission revenue.
Favorable Political footprint. The company is positioned to capture presidential political advertising in swing states including AZ, FL, MI, OH, NV, WI and VA. There are expected to be 35 competitive House races in its markets, as well. We conservatively estimate political advertising to be $150 million in 2020 versus...
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.