E.W. Scripps Company (The) (NASDAQ:SSP) Receives Average Recommendation of “Hold” from Brokerages

E.W. Scripps Company (The) (NASDAQ:SSPGet Free Report) has been given an average recommendation of “Hold” by the five research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $5.95.

SSP has been the subject of a number of recent research reports. Zacks Research upgraded E.W. Scripps from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 28th. Benchmark lowered their price objective on E.W. Scripps from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of E.W. Scripps in a research note on Friday, May 29th. Finally, Guggenheim reiterated a “neutral” rating on shares of E.W. Scripps in a research note on Friday, March 6th.

Get Our Latest Analysis on E.W. Scripps

Insider Transactions at E.W. Scripps

In other E.W. Scripps news, major shareholder Molly E. Mccabe sold 142,970 shares of E.W. Scripps stock in a transaction on Monday, May 18th. The stock was sold at an average price of $3.48, for a total transaction of $497,535.60. Following the completion of the transaction, the insider owned 123,523 shares in the company, valued at approximately $429,860.04. The trade was a 53.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 326,675 shares of company stock worth $1,117,887 in the last three months. 5.24% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of E.W. Scripps by 22.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,722,317 shares of the company’s stock worth $18,842,000 after purchasing an additional 871,159 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of E.W. Scripps by 1.6% in the first quarter. Dimensional Fund Advisors LP now owns 3,729,155 shares of the company’s stock worth $13,873,000 after purchasing an additional 57,441 shares during the last quarter. Penn Capital Management Company LLC raised its stake in shares of E.W. Scripps by 151.7% in the third quarter. Penn Capital Management Company LLC now owns 3,599,606 shares of the company’s stock worth $8,864,000 after purchasing an additional 2,169,640 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in shares of E.W. Scripps by 9.0% in the first quarter. Gamco Investors INC. ET AL now owns 2,661,878 shares of the company’s stock worth $9,902,000 after purchasing an additional 219,839 shares during the last quarter. Finally, Wittenberg Investment Management Inc. raised its stake in shares of E.W. Scripps by 4.2% in the fourth quarter. Wittenberg Investment Management Inc. now owns 2,310,061 shares of the company’s stock worth $9,217,000 after purchasing an additional 93,112 shares during the last quarter. Hedge funds and other institutional investors own 67.81% of the company’s stock.

E.W. Scripps Trading Down 1.0%

NASDAQ SSP opened at $2.99 on Friday. The stock’s 50 day moving average is $3.95 and its 200 day moving average is $3.91. The firm has a market capitalization of $273.70 million, a PE ratio of -1.62 and a beta of 0.61. E.W. Scripps has a twelve month low of $2.02 and a twelve month high of $5.39. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 3.08.

E.W. Scripps (NASDAQ:SSPGet Free Report) last announced its quarterly earnings data on Friday, May 8th. The company reported ($0.20) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.52) by $0.32. The business had revenue of $516.87 million during the quarter, compared to analysts’ expectations of $516.86 million. E.W. Scripps had a negative return on equity of 0.56% and a negative net margin of 4.63%. Research analysts forecast that E.W. Scripps will post 0.22 earnings per share for the current fiscal year.

About E.W. Scripps

(Get Free Report)

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

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Analyst Recommendations for E.W. Scripps (NASDAQ:SSP)

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