Elkfork Partners LLC purchased a new position in shares of E. W. Scripps Co (NYSE:SSP) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,446 shares of the company’s stock, valued at approximately $101,000.
Other institutional investors have also modified their holdings of the company. Russell Investments Group Ltd. lifted its holdings in E. W. Scripps by 27.0% during the third quarter. Russell Investments Group Ltd. now owns 299,391 shares of the company’s stock worth $5,721,000 after acquiring an additional 63,700 shares during the period. Wells Fargo & Company MN lifted its holdings in E. W. Scripps by 17.4% during the third quarter. Wells Fargo & Company MN now owns 186,405 shares of the company’s stock worth $3,563,000 after acquiring an additional 27,603 shares during the period. Cove Street Capital LLC lifted its holdings in E. W. Scripps by 29.5% during the fourth quarter. Cove Street Capital LLC now owns 3,136,990 shares of the company’s stock worth $49,031,000 after acquiring an additional 715,090 shares during the period. Pinebridge Investments L.P. lifted its holdings in E. W. Scripps by 11.3% during the third quarter. Pinebridge Investments L.P. now owns 69,092 shares of the company’s stock worth $1,321,000 after acquiring an additional 7,037 shares during the period. Finally, Royce & Associates LP lifted its holdings in E. W. Scripps by 1.6% during the third quarter. Royce & Associates LP now owns 440,710 shares of the company’s stock worth $8,422,000 after acquiring an additional 7,000 shares during the period. Institutional investors and hedge funds own 76.96% of the company’s stock.
SSP has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded E. W. Scripps from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Saturday, January 20th. Benchmark restated a “buy” rating and issued a $21.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. ValuEngine lowered E. W. Scripps from a “hold” rating to a “sell” rating in a research note on Sunday, December 31st. Noble Financial restated a “buy” rating on shares of E. W. Scripps in a research note on Monday, January 22nd. Finally, Guggenheim restated a “hold” rating and issued a $18.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. E. W. Scripps has an average rating of “Hold” and an average target price of $19.25.
Shares of NYSE SSP opened at $11.59 on Friday. The firm has a market capitalization of $955.34, a PE ratio of -29.72, a P/E/G ratio of 8.62 and a beta of 2.00. E. W. Scripps Co has a fifty-two week low of $11.37 and a fifty-two week high of $23.70. 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 (NYSE:SSP) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.14 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.05 by $0.09. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $265.68 million. E. W. Scripps had a positive return on equity of 1.51% and a negative net margin of 1.44%. The firm’s quarterly revenue was up 1.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.46 earnings per share. equities research analysts predict that E. W. Scripps Co will post 0.68 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, March 26th. Stockholders of record on Thursday, March 1st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, February 28th. E. W. Scripps’s dividend payout ratio (DPR) is presently -51.28%.
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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.
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