E.W. Scripps Company (The) (NASDAQ:SSP) Given Consensus Rating of "Hold" by Analysts

Key Points

• Analysts maintain a “Hold” consensus on E.W. Scripps, with one sell, three hold and one buy rating among five analysts. The average 12-month price target is $5.90.
• Recent analyst actions were mixed: Wells Fargo and Benchmark cut their price targets to $3.80 and $8.00, respectively, while Benchmark retained a buy rating and other firms maintained hold or sell recommendations.
• SSP opened at $3.19, near the lower end of its 12-month range of $2.02 to $5.39. The company beat quarterly EPS estimates but missed revenue expectations, reporting a net loss and negative margins.

Shares of E.W. Scripps Company (The) (NASDAQ:SSP - Get Free Report) have earned an average recommendation of "Hold" from the five analysts that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $5.90.

Several equities research analysts have weighed in on the company. Wells Fargo & Company dropped their price objective on E.W. Scripps from $4.70 to $3.80 and set an "equal weight" rating for the company in a report on Tuesday, August 11th. Benchmark reduced their target price on E.W. Scripps from $10.00 to $8.00 and set a "buy" rating on the stock in a research note on Monday, May 11th. Wall Street Zen upgraded E.W. Scripps to a "hold" rating in a report on Saturday, August 1st. Finally, Weiss Ratings reaffirmed a "sell (d)" rating on shares of E.W. Scripps in a research note on Wednesday.

Institutional Trading of E.W. Scripps

Institutional investors and hedge funds have recently bought and sold shares of the stock. M&T Bank Corp bought a new position in shares of E.W. Scripps in the 4th quarter worth approximately $47,000. Franklin Resources Inc. purchased a new stake in E.W. Scripps in the third quarter worth $30,000. Pinnacle Associates Ltd. purchased a new stake in E.W. Scripps in the fourth quarter worth $50,000. Northwestern Mutual Wealth Management Co. raised its holdings in E.W. Scripps by 67.1% in the third quarter. Northwestern Mutual Wealth Management Co. now owns 14,923 shares of the company's stock worth $37,000 after purchasing an additional 5,992 shares in the last quarter. Finally, Oxford Asset Management LLP purchased a new position in E.W. Scripps during the second quarter valued at $46,000. 67.81% of the stock is currently owned by hedge funds and other institutional investors.

E.W. Scripps Price Performance

SSP stock opened at $3.19 on Friday. The stock has a market capitalization of $295.62 million, a price-to-earnings ratio of -0.23 and a beta of 0.65. The firm's 50-day moving average price is $3.07 and its two-hundred day moving average price is $3.56. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 3.08. E.W. Scripps has a 12-month low of $2.02 and a 12-month high of $5.39.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported ($0.34) earnings per share for the quarter, topping analysts' consensus estimates of ($0.53) by $0.19. E.W. Scripps had a negative net margin of 58.02% and a negative return on equity of 4.58%. The company had revenue of $490.40 million during the quarter, compared to analyst estimates of $511.65 million.

About E.W. Scripps

The E.W. Scripps Company is a diversified U.S. media organization headquartered in Cincinnati, Ohio. Established in 1878 by Edward Willis Scripps, the company began as a newspaper publisher before expanding into broadcast television, cable networks and digital journalism. Today, Scripps combines a legacy of local news reporting with a growing portfolio of national cable channels and digital platforms.

Scripps operates more than 60 television stations across over 40 markets, delivering local news, weather, sports and entertainment programming to communities in both large and mid-sized U.S.

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