Noble Financial reiterated their buy rating on shares of E. W. Scripps (NYSE:SSP) in a research note released on Tuesday.
Other analysts have also recently issued reports about the company. 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. Benchmark reissued a buy rating and set a $21.00 target price on shares of E. W. Scripps in a research note on Friday, January 26th. 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 cut E. W. Scripps from a hold rating to a sell rating in a research note on Friday, February 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of Hold and an average target price of $18.00.
Shares of SSP stock opened at $12.37 on Tuesday. The company has a debt-to-equity ratio of 0.76, a current ratio of 2.89 and a quick ratio of 2.87. The stock has a market capitalization of $1.02 billion, a PE ratio of -31.72, a P/E/G ratio of 3.42 and a beta of 1.99. E. W. Scripps has a one year low of $12.26 and a one year high of $12.47.
E. W. Scripps (NYSE:SSP) last announced its quarterly earnings results on Monday, May 7th. The company reported ($0.10) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). E. W. Scripps had a negative net margin of 3.93% and a positive return on equity of 0.89%. The company had revenue of $254.20 million during the quarter, compared to the consensus estimate of $252.60 million. During the same period last year, the company earned ($0.02) earnings per share. The business’s revenue was up 28.1% compared to the same quarter last year. sell-side analysts expect that E. W. Scripps will post 0.59 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 25th. Investors of record on Friday, June 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.62%. E. W. Scripps’s payout ratio is -51.28%.
A number of hedge funds and other institutional investors have recently bought and sold shares of SSP. Wells Fargo & Company MN increased its stake in E. W. Scripps by 17.4% during the 3rd quarter. Wells Fargo & Company MN now owns 186,405 shares of the company’s stock worth $3,563,000 after purchasing an additional 27,603 shares in the last quarter. Arizona State Retirement System grew its stake in shares of E. W. Scripps by 223.0% during the 4th quarter. Arizona State Retirement System now owns 92,900 shares of the company’s stock worth $1,452,000 after acquiring an additional 64,142 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of E. W. Scripps by 1.0% during the 4th quarter. Bank of New York Mellon Corp now owns 2,329,962 shares of the company’s stock worth $36,416,000 after acquiring an additional 24,136 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of E. W. Scripps by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 474,773 shares of the company’s stock worth $7,420,000 after acquiring an additional 3,487 shares in the last quarter. Finally, Kennedy Capital Management Inc. grew its stake in shares of E. W. Scripps by 39.9% during the 4th quarter. Kennedy Capital Management Inc. now owns 494,315 shares of the company’s stock worth $7,726,000 after acquiring an additional 141,000 shares in the last quarter. 76.60% of the stock is 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 and national media brands. Its Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.
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