E.W. Scripps Company (The) (NYSE:SSP) was the recipient of unusually large options trading on Wednesday. Traders acquired 2,942 put options on the company. This represents an increase of approximately 1,448% compared to the average volume of 190 put options.

Institutional investors and hedge funds have recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in shares of E.W. Scripps by 0.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock worth $102,000 after purchasing an additional 26 shares in the last quarter. State of Alaska Department of Revenue lifted its position in E.W. Scripps by 79.4% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,125 shares of the company’s stock valued at $198,000 after acquiring an additional 4,925 shares in the last quarter. Crossmark Global Holdings Inc. bought a new position in E.W. Scripps in the 3rd quarter valued at approximately $203,000. GABELLI & Co INVESTMENT ADVISERS INC. bought a new position in E.W. Scripps in the 2nd quarter valued at approximately $214,000. Finally, Piedmont Investment Advisors LLC bought a new position in E.W. Scripps in the 2nd quarter valued at approximately $217,000. 77.84% of the stock is currently owned by hedge funds and other institutional investors.

SSP has been the topic of a number of research analyst reports. Zacks Investment Research downgraded E.W. Scripps from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Jefferies Group reiterated a “hold” rating and set a $20.00 target price on shares of E.W. Scripps in a report on Wednesday, August 16th. Noble Financial reissued a “buy” rating on shares of E.W. Scripps in a research report on Wednesday, October 4th. Guggenheim started coverage on E.W. Scripps in a research report on Wednesday, October 18th. They issued a “neutral” rating and a $19.00 price target on the stock. Finally, Benchmark dropped their price target on E.W. Scripps from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $19.75.

Shares of E.W. Scripps (SSP) opened at $15.20 on Monday. The company has a debt-to-equity ratio of 0.42, a current ratio of 3.27 and a quick ratio of 3.27. E.W. Scripps has a 12-month low of $13.88 and a 12-month high of $24.15. The company has a market capitalization of $1,244.86, a P/E ratio of 31.02 and a beta of 1.95.

E.W. Scripps (NYSE:SSP) last issued its quarterly earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. E.W. Scripps had a return on equity of 4.37% and a net margin of 1.95%. The firm had revenue of $216.45 million for the quarter, compared to analysts’ expectations of $219.04 million. During the same period in the previous year, the firm posted $0.15 EPS. The business’s revenue for the quarter was down 7.1% compared to the same quarter last year. research analysts predict that E.W. Scripps will post -0.1 earnings per share for the current year.

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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’s segments include television, radio, digital, and syndication and other. As of December 31, 2016, the Television segment included approximately 15 American Broadcasting Company (ABC) affiliates, five National Broadcasting Company (NBC) affiliates, two FOX affiliates, two Columbia Broadcasting System (CBS) affiliates and four non big-four affiliated stations.

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