Analysts Set E.W. Scripps Co. (NYSE:SSP) Target Price at $23.86
Shares of E.W. Scripps Co. (NYSE:SSP) have received a consensus rating of “Buy” from the eight ratings firms that are presently covering the firm. Four investment analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokerages that have covered the stock in the last year is C$23.86.
Several analysts have issued reports on the company. Zacks Investment Research lowered E.W. Scripps from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group reissued a “hold” rating on shares of E.W. Scripps in a report on Monday, August 22nd. Noble Financial reissued a “buy” rating and set a $25.00 price target on shares of E.W. Scripps in a report on Wednesday, June 8th. Finally, Wells Fargo & Co. restated a “hold” rating on shares of E.W. Scripps in a research report on Monday, September 26th.
E.W. Scripps (NYSE:SSP) traded up 1.43% during trading on Wednesday, reaching $16.34. The company had a trading volume of 148,424 shares. E.W. Scripps has a one year low of $14.52 and a one year high of $22.91. The company’s market capitalization is $1.36 billion. The firm’s 50 day moving average is $16.48 and its 200 day moving average is $16.27.
E.W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. E.W. Scripps had a positive return on equity of 2.72% and a negative net margin of 3.56%. The business earned $228 million during the quarter, compared to analyst estimates of $198.13 million. During the same quarter in the previous year, the company posted ($0.15) earnings per share. E.W. Scripps’s revenue for the quarter was up 15.0% on a year-over-year basis. On average, equities research analysts predict that E.W. Scripps will post $1.10 earnings per share for the current year.
Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in E.W. Scripps by 1.0% in the second quarter. Dimensional Fund Advisors LP now owns 5,498,106 shares of the company’s stock worth $87,091,000 after buying an additional 56,936 shares in the last quarter. Vanguard Group Inc. increased its stake in E.W. Scripps by 1.5% in the second quarter. Vanguard Group Inc. now owns 4,382,289 shares of the company’s stock worth $69,414,000 after buying an additional 63,321 shares in the last quarter. BlackRock Fund Advisors increased its stake in E.W. Scripps by 3.7% in the second quarter. BlackRock Fund Advisors now owns 3,598,180 shares of the company’s stock worth $56,995,000 after buying an additional 129,199 shares in the last quarter. JPMorgan Chase & Co. increased its stake in 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 in the last quarter. Finally, Victory Capital Management Inc. increased its stake in E.W. Scripps by 6.5% in the second quarter. Victory Capital Management Inc. now owns 2,531,475 shares of the company’s stock worth $40,099,000 after buying an additional 154,900 shares in the last quarter. Institutional investors own 75.15% of the company’s stock.
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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