Shares of E.W. Scripps Company (The) (NASDAQ:SSP – Get Free Report) have been given an average rating of “Hold” by the five brokerages that are covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $5.90.
SSP has been the subject of several analyst reports. Wells Fargo & Company cut their price target on shares of E.W. Scripps from $4.70 to $3.80 and set an “equal weight” rating for the company in a report on Tuesday, August 11th. Wall Street Zen upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a research report on Saturday, September 19th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of E.W. Scripps in a report on Wednesday, August 26th.
Get Our Latest Stock Report on SSP
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSP. Diversified Trust Co grew its stake in shares of E.W. Scripps by 40.8% during the third quarter. Diversified Trust Co now owns 34,977 shares of the company’s stock valued at $91,000 after buying an additional 10,132 shares during the last quarter. Bank of America Corp DE increased its stake in E.W. Scripps by 13.9% in the 1st quarter. Bank of America Corp DE now owns 71,890 shares of the company’s stock worth $267,000 after purchasing an additional 8,746 shares during the period. Empowered Funds LLC increased its stake in E.W. Scripps by 9.9% in the 1st quarter. Empowered Funds LLC now owns 469,174 shares of the company’s stock worth $1,745,000 after purchasing an additional 42,138 shares during the period. Rangeley Capital LLC bought a new stake in E.W. Scripps in the first quarter valued at approximately $318,000. Finally, Gabelli Funds LLC grew its holdings in E.W. Scripps by 23.2% in the 1st quarter. Gabelli Funds LLC now owns 1,375,524 shares of the company’s stock worth $5,117,000 after acquiring an additional 258,908 shares during the last quarter. 67.81% of the stock is currently owned by hedge funds and other institutional investors.
E.W. Scripps Trading Up 3.7%
Shares of E.W. Scripps stock opened at $3.69 on Wednesday. The company’s 50-day moving average price is $2.86 and its 200-day moving average price is $3.38. The company has a current ratio of 1.41, a quick ratio of 1.34 and a debt-to-equity ratio of 3.08. E.W. Scripps has a 12-month low of $1.92 and a 12-month high of $5.39. The company has a market cap of $341.95 million, a price-to-earnings ratio of -0.28 and a beta of 0.71.
E.W. Scripps (NASDAQ:SSP – Get Free Report) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of ($0.06) by $0.27. The company had revenue of $544.86 million during the quarter, compared to analysts’ expectations of $545.47 million. E.W. Scripps had a negative net margin of 54.15% and a positive return on equity of 12.25%.
About E.W. Scripps
The E.W. Scripps Company (NASDAQ: SSP) is an American media company that operates local television stations, national news services and digital media businesses. Its local media operations provide broadcast news, weather, sports and community programming, while its national offerings include Scripps News and Court TV. Scripps distributes content through over-the-air television, digital platforms and streaming services. The company also operates ION, a national broadcast network known for entertainment programming, as well as other television and digital brands.
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