E.W. Scripps (NASDAQ:SSP) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded E.W. Scripps from “hold” to “buy.” Analyst opinion remains mixed overall: MarketBeat reports an average “hold” rating and a $5.90 average price target.
• Scripps reported quarterly EPS of $0.21, beating the consensus estimate of a $0.06 loss, while revenue of $544.86 million came in slightly below the $545.47 million estimate.
• The stock opened at $3.61 and has traded between $1.92 and $5.39 over the past 52 weeks; institutional investors own 67.81% of its shares.

E.W. Scripps (NASDAQ:SSP - Get Free Report) was upgraded by stock analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Saturday, Wall Street Zen reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of E.W. Scripps in a report on Wednesday, August 26th. Wells Fargo & Company reduced their target price on shares of E.W. Scripps from $4.70 to $3.80 and set an "equal weight" rating for the company in a research note on Tuesday, August 11th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $5.90.

E.W. Scripps Stock Performance

Shares of E.W. Scripps stock opened at $3.61 on Friday. The company has a market cap of $334.54 million, a PE ratio of -0.27 and a beta of 0.71. E.W. Scripps has a 52 week low of $1.92 and a 52 week high of $5.39. The business has a 50 day moving average price of $2.89 and a 200-day moving average price of $3.38. 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 (NASDAQ:SSP - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.06) by $0.27. The business had revenue of $544.86 million during the quarter, compared to the consensus estimate of $545.47 million. E.W. Scripps had a positive return on equity of 12.25% and a negative net margin of 54.15%.

Hedge Funds Weigh In On E.W. Scripps

Several institutional investors have recently modified their holdings of the business. Marshall Wace LLP increased its position in shares of E.W. Scripps by 1,711.0% during the third quarter. Marshall Wace LLP now owns 459,991 shares of the company's stock valued at $1,196,000 after acquiring an additional 434,591 shares during the last quarter. Gamco Investors INC. ET AL grew its stake in E.W. Scripps by 1.5% in the 3rd quarter. Gamco Investors INC. ET AL now owns 2,677,568 shares of the company's stock valued at $6,962,000 after purchasing an additional 40,548 shares during the period. Diversified Trust Co grew its stake 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 purchasing an additional 10,132 shares during the period. Bank of America Corp DE increased its position in shares of E.W. Scripps by 13.9% during the 1st quarter. Bank of America Corp DE now owns 71,890 shares of the company's stock valued at $267,000 after purchasing an additional 8,746 shares during the last quarter. Finally, Empowered Funds LLC increased its position in shares of E.W. Scripps by 9.9% during the 1st quarter. Empowered Funds LLC now owns 469,174 shares of the company's stock valued at $1,745,000 after purchasing an additional 42,138 shares during the last quarter. 67.81% of the stock is owned by institutional investors.

About E.W. Scripps

The E.W. Scripps Company is a U.S. media company focused on local television broadcasting and national television networks. Its local stations provide news, weather, sports and other programming to communities across the country. Scripps also operates national networks, including ION, Bounce, Grit, Laff, Court TV and Scripps News. These services offer a range of programming, from entertainment and sports to news and courtroom coverage, through broadcast and other distribution platforms. Founded in 1878 by newspaper publisher Edward Willis Scripps, the company developed from a newspaper business into a broadcaster and expanded its national television operations over time.

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