Wells Fargo & Company MN Buys 27,603 Shares of E. W. Scripps Co (NYSE:SSP)

Wells Fargo & Company MN raised its position in shares of E. W. Scripps Co (NYSE:SSP) by 17.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 186,405 shares of the company’s stock after acquiring an additional 27,603 shares during the quarter. Wells Fargo & Company MN owned approximately 0.23% of E. W. Scripps worth $3,563,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its holdings in shares of E. W. Scripps by 0.5% in the second quarter. PNC Financial Services Group Inc. now owns 5,765 shares of the company’s stock valued at $102,000 after purchasing an additional 26 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of E. W. Scripps by 2.5% in the second quarter. Royal Bank of Canada now owns 26,157 shares of the company’s stock valued at $467,000 after purchasing an additional 628 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of E. W. Scripps by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 296,122 shares of the company’s stock valued at $5,274,000 after purchasing an additional 1,303 shares during the last quarter. California Public Employees Retirement System increased its holdings in shares of E. W. Scripps by 2.2% in the second quarter. California Public Employees Retirement System now owns 101,400 shares of the company’s stock valued at $1,806,000 after purchasing an additional 2,200 shares during the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of E. W. Scripps by 0.6% in the second quarter. Teachers Advisors LLC now owns 395,922 shares of the company’s stock valued at $7,051,000 after purchasing an additional 2,290 shares during the last quarter. 77.83% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts recently commented on SSP shares. Benchmark cut their price target on E. W. Scripps from $22.00 to $20.00 and set a “buy” rating for the company in a report on Monday, November 6th. Noble Financial reissued a “buy” rating on shares of E. W. Scripps in a research note on Wednesday, October 4th. Zacks Investment Research raised E. W. Scripps from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Saturday, January 20th. Guggenheim reissued a “hold” rating and set a $18.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. Finally, ValuEngine lowered E. W. Scripps from a “hold” rating to a “sell” rating in a research report on Sunday, December 31st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. E. W. Scripps has an average rating of “Hold” and an average price target of $19.25.

E. W. Scripps Co (NYSE SSP) traded up $0.34 on Thursday, hitting $16.35. The stock had a trading volume of 345,875 shares, compared to its average volume of 335,394. E. W. Scripps Co has a 1-year low of $13.88 and a 1-year high of $24.15. The stock has a market capitalization of $1,354.61, a price-to-earnings ratio of 74.32, a P/E/G ratio of 11.94 and a beta of 1.94. The company has a debt-to-equity ratio of 0.42, a quick ratio of 3.27 and a current ratio of 3.27.

E. W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, November 3rd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $216.45 million during the quarter, compared to analyst estimates of $219.04 million. E. W. Scripps had a return on equity of 4.37% and a net margin of 1.95%. The company’s quarterly revenue was down 7.1% on a year-over-year basis. During the same period last year, the business posted $0.15 earnings per share. research analysts expect that E. W. Scripps Co will post -0.21 earnings per share for the current year.

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E. W. Scripps 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.

Institutional Ownership by Quarter for E. W. Scripps (NYSE:SSP)

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