E.W. Scripps Co. (NYSE:SSP) Receives Average Recommendation of “Buy” from Brokerages
Shares of E.W. Scripps Co. (NYSE:SSP) have earned a consensus rating of “Buy” from the eight analysts that are currently covering the stock. Four investment analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is C$23.86.
A number of research firms recently weighed in on SSP. Zacks Investment Research lowered shares of E.W. Scripps from a “buy” rating to a “hold” rating in a report on Tuesday, July 12th. Jefferies Group reaffirmed a “hold” rating on shares of E.W. Scripps in a report on Monday, August 22nd. Noble Financial reaffirmed 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. reaffirmed a “hold” rating on shares of E.W. Scripps in a report on Monday, September 26th.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas increased its position in E.W. Scripps by 9.5% in the second quarter. Teacher Retirement System of Texas now owns 7,512 shares of the company’s stock worth $119,000 after buying an additional 653 shares during the last quarter. Bank of Montreal Can acquired a new position in E.W. Scripps during the second quarter worth about $129,000. Tower Research Capital LLC TRC increased its position in E.W. Scripps by 11,567.1% in the second quarter. Tower Research Capital LLC TRC now owns 9,217 shares of the company’s stock worth $146,000 after buying an additional 9,138 shares during the last quarter. Mason Street Advisors LLC acquired a new position in E.W. Scripps during the second quarter worth about $165,000. Finally, Cubist Systematic Strategies LLC acquired a new position in E.W. Scripps during the second quarter worth about $178,000. Institutional investors own 75.15% of the company’s stock.
Shares of E.W. Scripps (NYSE:SSP) traded up 1.43% during midday trading on Wednesday, hitting $16.34. 148,424 shares of the stock were exchanged. The firm has a 50-day moving average price of $16.48 and a 200-day moving average price of $16.27. The company’s market cap is $1.36 billion. E.W. Scripps has a 12-month low of $14.52 and a 12-month high of $22.91.
E.W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, August 5th. The company reported $0.14 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.14. The business earned $228 million during the quarter, compared to analyst estimates of $198.13 million. E.W. Scripps had a negative net margin of 3.56% and a positive return on equity of 2.72%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned ($0.15) EPS. On average, equities analysts predict that E.W. Scripps will post $1.10 EPS for the current year.
E.W. Scripps Company Profile
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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