E.W. Scripps (NASDAQ:SSP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of E.W. Scripps (NASDAQ:SSP) from a sell rating to a hold rating in a research note issued to investors on Monday morning.

Separately, Benchmark lowered their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research note on Tuesday, November 5th.

E.W. Scripps Price Performance

Shares of NASDAQ SSP opened at $1.79 on Monday. The company has a debt-to-equity ratio of 3.41, a quick ratio of 1.34 and a current ratio of 1.34. E.W. Scripps has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The stock has a market cap of $154.15 million, a PE ratio of -0.61 and a beta of 1.66. The stock has a fifty day moving average of $2.34 and a 200-day moving average of $2.70.

E.W. Scripps (NASDAQ:SSP) last posted its earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a negative net margin of 8.55% and a positive return on equity of 9.40%. The company had revenue of $646.30 million for the quarter, compared to analysts’ expectations of $634.01 million. During the same period in the previous year, the firm earned ($0.15) EPS. Equities research analysts anticipate that E.W. Scripps will post 1.07 earnings per share for the current year.

Institutional Trading of E.W. Scripps

Institutional investors and hedge funds have recently modified their holdings of the business. Sei Investments Co. bought a new stake in shares of E.W. Scripps during the 2nd quarter worth $38,000. Vanguard Personalized Indexing Management LLC bought a new stake in E.W. Scripps during the second quarter worth about $39,000. Diversified Trust Co purchased a new position in shares of E.W. Scripps in the 3rd quarter worth about $42,000. CWM LLC increased its position in shares of E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after purchasing an additional 13,908 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of E.W. Scripps during the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.