E.W. Scripps Company (The) (NASDAQ:SSP) Stock Has Average Price Target of $5.90 According to Brokerages

Shares of E.W. Scripps Company (The) (NASDAQ:SSP) have received a consensus recommendation of “Hold” from the five ratings firms that are covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.90.

Several brokerages have issued reports on SSP. Wall Street Zen upgraded E.W. Scripps from a “sell” rating to a “hold” rating in a report on Saturday, September 19th. Weiss Ratings restated a “sell (d)” rating on shares of E.W. Scripps in a report on Wednesday, August 26th. Finally, Wells Fargo & Company lowered their target price on E.W. Scripps from $4.70 to $3.80 and set an “equal weight” rating on the stock in a research report on Tuesday, August 11th.

E.W. Scripps Price Performance

Shares of NASDAQ SSP opened at $3.69 on Wednesday. The company has a market capitalization of $341.95 million, a PE ratio of -0.28 and a beta of 0.71. The company has a quick ratio of 1.34, a current ratio of 1.41 and a debt-to-equity ratio of 3.08. E.W. Scripps has a twelve month low of $1.92 and a twelve month high of $5.39. The firm has a fifty day simple moving average of $2.86 and a 200 day simple moving average of $3.38.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Thursday, November 5th. The company reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.27. E.W. Scripps had a positive return on equity of 12.25% and a negative net margin of 54.15%. The firm had revenue of $544.86 million during the quarter, compared to the consensus estimate of $545.47 million.

Institutional Trading of E.W. Scripps

Hedge funds and other institutional investors have recently bought and sold shares of the business. Diversified Trust Co raised its position in E.W. Scripps by 40.8% in the 3rd quarter. Diversified Trust Co now owns 34,977 shares of the company’s stock valued at $91,000 after buying an additional 10,132 shares during the last quarter. Chicago Partners Investment Group LLC raised its stake in shares of E.W. Scripps by 23.8% in the first quarter. Chicago Partners Investment Group LLC now owns 26,075 shares of the company’s stock valued at $97,000 after buying an additional 5,020 shares during the period. Bank of America Corp DE raised its stake in shares of E.W. Scripps by 13.9% in the first quarter. Bank of America Corp DE now owns 71,890 shares of the company’s stock valued at $267,000 after buying an additional 8,746 shares during the period. Rangeley Capital LLC purchased a new position in shares of E.W. Scripps during the 1st quarter valued at $318,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its position in shares of E.W. Scripps by 233.3% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 241,500 shares of the company’s stock valued at $898,000 after buying an additional 169,050 shares during the last quarter. Institutional investors own 67.81% of the company’s stock.

About E.W. Scripps

The E.W. Scripps Company (NASDAQ: SSP) is an American media company that operates local television stations, national news services and digital media businesses. Its local media operations provide broadcast news, weather, sports and community programming, while its national offerings include Scripps News and Court TV. Scripps distributes content through over-the-air television, digital platforms and streaming services. The company also operates ION, a national broadcast network known for entertainment programming, as well as other television and digital brands.