E. W. Scripps Co (SSP) Given Average Rating of “Hold” by Brokerages

E. W. Scripps Co (NYSE:SSP) has earned a consensus rating of “Hold” from the seven research firms that are currently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $19.67.

Several analysts recently issued reports on SSP shares. Zacks Investment Research downgraded shares of E. W. Scripps from a “hold” rating to a “sell” rating in a report on Saturday, October 21st. Benchmark decreased their price objective on shares of E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 6th. ValuEngine downgraded shares of E. W. Scripps from a “hold” rating to a “sell” rating in a report on Tuesday, November 14th. Guggenheim started coverage on shares of E. W. Scripps in a report on Wednesday, October 18th. They set a “neutral” rating and a $19.00 price objective for the company. Finally, Noble Financial reaffirmed a “buy” rating on shares of E. W. Scripps in a report on Wednesday, October 4th.

Shares of E. W. Scripps (NYSE SSP) traded down $0.09 on Thursday, hitting $15.27. 317,000 shares of the stock traded hands, compared to its average volume of 502,374. E. W. Scripps has a 52 week low of $13.88 and a 52 week high of $24.15. The firm has a market cap of $1,257.97, a price-to-earnings ratio of 31.35 and a beta of 1.93. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.42.

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

A number of institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of E. W. Scripps by 0.5% during the 2nd quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock worth $102,000 after acquiring an additional 26 shares during the period. Alps Advisors Inc. lifted its holdings in shares of E. W. Scripps by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 20,984 shares of the company’s stock worth $374,000 after acquiring an additional 54 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of E. W. Scripps by 0.4% during the 2nd quarter. Louisiana State Employees Retirement System now owns 22,900 shares of the company’s stock worth $408,000 after acquiring an additional 100 shares during the period. Arizona State Retirement System lifted its holdings in shares of E. W. Scripps by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 29,358 shares of the company’s stock worth $523,000 after acquiring an additional 200 shares during the period. Finally, Texas Permanent School Fund increased its position in shares of E. W. Scripps by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 41,136 shares of the company’s stock worth $733,000 after purchasing an additional 579 shares in the last quarter. 77.82% of the stock is owned by hedge funds and other institutional investors.

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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’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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