E.W. Scripps Co. (SSP) Rating Reiterated by Wells Fargo & Co.
E.W. Scripps Co. (NYSE:SSP)‘s stock had its “hold” rating reaffirmed by stock analysts at Wells Fargo & Co. in a report issued on Monday.
Other analysts have also issued research reports about the company. Zacks Investment Research upgraded E.W. Scripps from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Saturday, July 9th. Noble Financial restated a “buy” rating and set a $25.00 target price on shares of E.W. Scripps in a report on Wednesday, June 8th. Finally, Jefferies Group restated a “hold” rating on shares of E.W. Scripps in a report on Monday, August 22nd. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of C$22.33.
E.W. Scripps (NYSE:SSP) opened at 15.40 on Monday. The stock’s 50 day moving average price is $16.49 and its 200-day moving average price is $16.32. E.W. Scripps has a 12 month low of $14.52 and a 12 month high of $22.91. The stock’s market cap is $1.29 billion.
E.W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.14. The firm earned $228 million during the quarter, compared to analyst estimates of $198.13 million. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. E.W. Scripps’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.15) earnings per share. Analysts anticipate that E.W. Scripps will post $1.10 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of SSP. Cove Street Capital LLC acquired a new position in shares of E.W. Scripps during the second quarter worth about $10,798,000. Blackstone Group L.P. acquired a new position in shares of E.W. Scripps during the second quarter worth about $8,156,000. JPMorgan Chase & Co. increased its position in shares of E.W. Scripps by 14.1% in the second quarter. JPMorgan Chase & Co. now owns 3,584,231 shares of the company’s stock worth $56,775,000 after buying an additional 443,918 shares during the last quarter. Nordea Investment Management AB increased its position in shares of E.W. Scripps by 44.0% in the second quarter. Nordea Investment Management AB now owns 720,312 shares of the company’s stock worth $11,410,000 after buying an additional 220,220 shares during the last quarter. Finally, Royce & Associates LP increased its position in shares of E.W. Scripps by 18.4% in the second quarter. Royce & Associates LP now owns 1,010,910 shares of the company’s stock worth $16,013,000 after buying an additional 157,260 shares during the last quarter. 75.15% of the stock is currently owned by institutional investors and hedge funds.
About E.W. Scripps
The E. W. Scripps Company is a media enterprise with interests in television and radio broadcasting, as well as local and national digital media brands. The Company operates through segments, including television, radio, digital, and syndication and other. It serves audiences and businesses through a portfolio of television, radio and digital media brands.
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