E.W. Scripps (NASDAQ:SSP) Lowered to "Sell" Rating by Wall Street Zen

Key Points

• E.W. Scripps has been downgraded from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook on the stock.
• Wells Fargo has reduced its price target for the stock from $4.00 to $3.00, maintaining an "equal weight" rating.
• The company reported a loss of ($0.12) EPS for the last quarter, missing analysts' expectations, and had revenue that fell short of forecasts.

E.W. Scripps (NASDAQ:SSP - Get Free Report) was downgraded by stock analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Sunday.

Separately, Wells Fargo & Company decreased their target price on shares of E.W. Scripps from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $5.50.

E.W. Scripps Stock Performance

NASDAQ SSP traded down $0.03 on Friday, reaching $3.01. The stock had a trading volume of 764,012 shares, compared to its average volume of 803,096. The company has a debt-to-equity ratio of 2.92, a current ratio of 1.27 and a quick ratio of 1.27. The company has a market cap of $265.87 million, a P/E ratio of 6.27 and a beta of 1.05. The firm has a fifty day moving average of $3.17 and a two-hundred day moving average of $2.63. E.W. Scripps has a 1-year low of $1.36 and a 1-year high of $4.17.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.08). E.W. Scripps had a net margin of 4.25% and a return on equity of 17.68%. The business had revenue of $540.08 million during the quarter, compared to the consensus estimate of $544.17 million. On average, equities research analysts anticipate that E.W. Scripps will post 1.07 EPS for the current year.

Institutional Investors Weigh In On E.W. Scripps

A number of large investors have recently modified their holdings of SSP. The Manufacturers Life Insurance Company bought a new position in shares of E.W. Scripps in the 4th quarter valued at $25,000. Northwestern Mutual Wealth Management Co. grew its position in E.W. Scripps by 111.8% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company's stock valued at $26,000 after acquiring an additional 4,715 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in E.W. Scripps in the fourth quarter valued at about $29,000. Tower Research Capital LLC TRC raised its stake in E.W. Scripps by 137.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock worth $30,000 after acquiring an additional 7,927 shares in the last quarter. Finally, Group One Trading LLC lifted its holdings in shares of E.W. Scripps by 479.9% in the fourth quarter. Group One Trading LLC now owns 13,998 shares of the company's stock worth $31,000 after acquiring an additional 11,584 shares during the last quarter. Institutional investors and hedge funds own 67.81% of the company's stock.

About E.W. Scripps

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local television stations, national news, and entertainment networks in the United States. It operates through Local Media, Scripps Networks, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, sports, and entertainment content, as well as its related digital operations; runs network, syndicated, and original programming, and local sporting events; and provides core and political advertising services.