E.W. Scripps (NASDAQ:SSP) Raised to Hold at StockNews.com

StockNews.com upgraded shares of E.W. Scripps (NASDAQ:SSP) from a sell rating to a hold rating in a report released on Tuesday morning.

Separately, Benchmark cut their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday.

E.W. Scripps Trading Down 2.5 %

E.W. Scripps stock opened at $2.34 on Tuesday. The firm has a 50-day moving average of $2.32 and a 200-day moving average of $2.75. E.W. Scripps has a one year low of $1.68 and a one year high of $9.35. The company has a debt-to-equity ratio of 2.24, a current ratio of 1.34 and a quick ratio of 1.50. The company has a market cap of $201.52 million, a price-to-earnings ratio of -0.72 and a beta of 1.66.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 8.27% and a negative net margin of 8.55%. The business had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share.

Institutional Investors Weigh In On E.W. Scripps

Several hedge funds have recently bought and sold shares of SSP. Sei Investments Co. bought a new position in E.W. Scripps in the 2nd quarter valued at about $38,000. Vanguard Personalized Indexing Management LLC bought a new position in E.W. Scripps in the 2nd quarter valued at about $39,000. Virtu Financial LLC bought a new position in E.W. Scripps in the 1st quarter valued at about $50,000. CWM LLC raised its holdings in E.W. Scripps by 4,620.6% in the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock valued at $45,000 after acquiring an additional 13,908 shares during the period. Finally, Optas LLC bought a new position in E.W. Scripps in the 2nd quarter valued at about $50,000. 67.81% of the stock is currently owned by institutional investors and hedge funds.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.