ValuEngine Downgrades E. W. Scripps (SSP) to Strong Sell

ValuEngine downgraded shares of E. W. Scripps (NYSE:SSP) from a sell rating to a strong sell rating in a research note issued to investors on Monday morning.

Several other equities analysts also recently weighed in on the stock. Zacks Investment Research downgraded shares of E. W. Scripps from a buy rating to a hold rating in a research note on Friday, March 2nd. Guggenheim reiterated a hold rating and issued a $18.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. Benchmark reiterated a buy rating and issued a $21.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. Finally, Noble Financial restated a buy rating on shares of E. W. Scripps in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $19.25.

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SSP opened at $11.72 on Monday. The stock has a market capitalization of $962.68, a PE ratio of -30.05, a price-to-earnings-growth ratio of 8.68 and a beta of 2.00. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.87 and a quick ratio of 2.87. E. W. Scripps has a twelve month low of $11.37 and a twelve month high of $23.70.

E. W. Scripps (NYSE:SSP) last posted its earnings results on Wednesday, February 28th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.09. The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $265.68 million. E. W. Scripps had a negative net margin of 1.44% and a positive return on equity of 1.51%. The company’s revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the company earned $0.46 earnings per share. equities research analysts anticipate that E. W. Scripps will post 0.68 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Thursday, March 1st were given a $0.05 dividend. The ex-dividend date of this dividend was Wednesday, February 28th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.71%. E. W. Scripps’s dividend payout ratio (DPR) is currently -51.28%.

Several hedge funds have recently added to or reduced their stakes in SSP. Crossmark Global Holdings Inc. bought a new position in shares of E. W. Scripps in the third quarter valued at approximately $203,000. BNP Paribas Arbitrage SA boosted its position in shares of E. W. Scripps by 60.7% in the third quarter. BNP Paribas Arbitrage SA now owns 29,608 shares of the company’s stock valued at $566,000 after acquiring an additional 11,184 shares during the period. Municipal Employees Retirement System of Michigan boosted its position in shares of E. W. Scripps by 48.1% in the third quarter. Municipal Employees Retirement System of Michigan now owns 24,400 shares of the company’s stock valued at $466,000 after acquiring an additional 7,920 shares during the period. Russell Investments Group Ltd. boosted its position in shares of E. W. Scripps by 27.0% in the third quarter. Russell Investments Group Ltd. now owns 299,391 shares of the company’s stock valued at $5,721,000 after acquiring an additional 63,700 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of E. W. Scripps by 26.8% in the third quarter. SG Americas Securities LLC now owns 19,918 shares of the company’s stock valued at $381,000 after acquiring an additional 4,211 shares during the period. Institutional investors own 76.96% of the company’s stock.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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