E.W. Scripps (NASDAQ:SSP) Upgraded 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 published on Monday morning.

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

E.W. Scripps Price Performance

Shares of SSP opened at $2.28 on Monday. E.W. Scripps has a fifty-two week low of $1.68 and a fifty-two week high of $9.35. The firm has a market capitalization of $196.35 million, a PE ratio of -0.74 and a beta of 1.66. The company’s 50-day moving average is $2.33 and its 200-day moving average is $2.72. The company has a debt-to-equity ratio of 3.41, a current ratio of 1.34 and a quick ratio of 1.50.

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

Institutional Investors Weigh In On E.W. Scripps

Large investors have recently bought and sold shares of the company. Sei Investments Co. acquired a new stake in shares of E.W. Scripps in the 2nd quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of E.W. Scripps in the 2nd quarter valued at approximately $39,000. Virtu Financial LLC acquired a new stake in shares of E.W. Scripps in the 1st quarter valued at approximately $50,000. CWM LLC boosted its stake in shares of E.W. Scripps by 4,620.6% in 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 in the last quarter. Finally, Optas LLC acquired a new stake in shares of E.W. Scripps in the 2nd quarter valued at approximately $50,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

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.