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

Key Points

• E.W. Scripps has been dropped from a "hold" rating to a "sell" rating by Wall Street Zen, indicating a negative outlook on the stock.
• Wells Fargo increased its price target on the stock from $2.80 to $4.00, while maintaining an "equal weight" rating.
• The company's shares recently opened at $2.52, reflecting a 10.3% decline, and it has a market capitalization of $221.03 million.

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 raised their target price on E.W. Scripps from $2.80 to $4.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 15th.

E.W. Scripps Stock Down 8.0%

Shares of SSP stock traded down $0.25 on Friday, hitting $2.83. The stock had a trading volume of 337,315 shares, compared to its average volume of 993,133. The company has a market cap of $247.78 million, a PE ratio of 5.90 and a beta of 1.01. The company has a quick ratio of 1.36, a current ratio of 1.27 and a debt-to-equity ratio of 2.92. The business has a 50 day moving average price of $3.08 and a 200 day moving average price of $2.51. E.W. Scripps has a one year low of $1.36 and a one year high of $4.17.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate 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 company had revenue of $540.08 million for the quarter, compared to analyst estimates of $544.17 million. Research analysts anticipate that E.W. Scripps will post 1.07 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SSP. The Manufacturers Life Insurance Company acquired a new stake in shares of E.W. Scripps in the fourth quarter valued at about $25,000. Northwestern Mutual Wealth Management Co. increased its position in shares of E.W. Scripps by 111.8% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company's stock valued at $26,000 after purchasing an additional 4,715 shares during the period. Public Employees Retirement System of Ohio acquired a new position in shares of E.W. Scripps in the 4th quarter worth $29,000. Tower Research Capital LLC TRC boosted its position in shares of E.W. Scripps by 137.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 13,700 shares of the company's stock worth $30,000 after buying an additional 7,927 shares during the period. Finally, Group One Trading LLC boosted its position in E.W. Scripps by 479.9% during the fourth quarter. Group One Trading LLC now owns 13,998 shares of the company's stock valued at $31,000 after purchasing an additional 11,584 shares during the last quarter. Institutional investors and hedge funds own 67.81% of the company's stock.

E.W. Scripps Company Profile

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.