Noble Financial reissued their buy rating on shares of E. W. Scripps (NYSE:SSP) in a report issued on Wednesday.
Other analysts have also recently issued research reports about the stock. Stephens set a $15.00 price target on shares of E. W. Scripps and gave the company a hold rating in a report on Tuesday, August 7th. Benchmark reiterated a buy rating and issued a $20.00 price target on shares of E. W. Scripps in a report on Thursday, October 18th. Finally, Zacks Investment Research upgraded shares of E. W. Scripps from a hold rating to a strong-buy rating and set a $19.00 price target on the stock in a report on Tuesday, October 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. E. W. Scripps has an average rating of Hold and an average target price of $18.40.
NYSE:SSP traded down $0.89 during trading hours on Wednesday, hitting $16.85. The company had a trading volume of 1,467,184 shares, compared to its average volume of 438,715. E. W. Scripps has a 52 week low of $10.69 and a 52 week high of $18.44.
E. W. Scripps (NYSE:SSP) last released its quarterly earnings results on Friday, November 9th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.04. The company had revenue of $302.70 million during the quarter, compared to the consensus estimate of $292.22 million. The business’s revenue was up 51.0% on a year-over-year basis. During the same quarter last year, the firm earned ($0.03) EPS.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 26th. Investors of record on Friday, December 14th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Thursday, December 13th.
In other news, Director Charles L. Barmonde acquired 2,438 shares of the stock in a transaction on Monday, October 29th. The stock was acquired at an average price of $15.99 per share, with a total value of $38,983.62. Following the completion of the transaction, the director now owns 17,632 shares of the company’s stock, valued at approximately $281,935.68. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Mary Peirce acquired 8,795 shares of the stock in a transaction on Wednesday, September 19th. The shares were purchased at an average cost of $16.33 per share, with a total value of $143,622.35. Following the transaction, the insider now directly owns 290,912 shares of the company’s stock, valued at approximately $4,750,592.96. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 310,542 shares of company stock worth $5,192,641. 4.16% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in SSP. Cove Street Capital LLC lifted its position in E. W. Scripps by 8.8% during the second quarter. Cove Street Capital LLC now owns 4,025,431 shares of the company’s stock valued at $53,901,000 after buying an additional 326,712 shares during the period. Russell Investments Group Ltd. lifted its position in E. W. Scripps by 24.8% during the second quarter. Russell Investments Group Ltd. now owns 403,843 shares of the company’s stock valued at $5,409,000 after buying an additional 80,377 shares during the period. Bank of New York Mellon Corp lifted its position in E. W. Scripps by 3.3% during the second quarter. Bank of New York Mellon Corp now owns 2,515,144 shares of the company’s stock valued at $33,678,000 after buying an additional 79,568 shares during the period. Price Capital Management Inc. purchased a new position in E. W. Scripps during the second quarter valued at $488,000. Finally, LMR Partners LLP purchased a new position in E. W. Scripps during the second quarter valued at $412,000. 77.70% of the stock is owned by institutional investors and hedge funds.
E. W. Scripps Company Profile
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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