E.W. Scripps (NASDAQ:SSP) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• E.W. Scripps' stock has received a reiterated "sell (D)" rating from Weiss Ratings, reflecting negative sentiment from analysts concerning its future performance.
• Wells Fargo has lowered its target price for E.W. Scripps from $4.00 to $3.00, while the consensus target price stands at $5.50, indicating mixed views among analysts.
• The company reported a quarterly loss with earnings per share of ($0.12), missing estimates, and generated revenue of $540.08 million, slightly below the forecast of $544.17 million.

E.W. Scripps (NASDAQ:SSP - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities research analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

Several other equities research analysts have also recently commented on the company. Wells Fargo & Company cut their target price on E.W. Scripps from $4.00 to $3.00 and set an "equal weight" rating on the stock in a research note on Monday, August 11th. Wall Street Zen cut E.W. Scripps from a "hold" rating to a "sell" rating in a research note on Sunday, August 31st. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $5.50.

E.W. Scripps Trading Up 1.7%

NASDAQ:SSP opened at $2.42 on Wednesday. E.W. Scripps has a fifty-two week low of $1.36 and a fifty-two week high of $4.17. 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 stock has a market capitalization of $213.76 million, a PE ratio of 5.04 and a beta of 1.05. The business's 50-day simple moving average is $2.86 and its 200-day simple moving average is $2.75.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. grew its holdings in E.W. Scripps by 111.8% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 8,931 shares of the company's stock valued at $26,000 after buying an additional 4,715 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new position in E.W. Scripps in the 1st quarter valued at $44,000. Kathmere Capital Management LLC acquired a new position in E.W. Scripps in the 2nd quarter valued at $44,000. Oxford Asset Management LLP acquired a new position in E.W. Scripps in the 2nd quarter valued at $46,000. Finally, May Hill Capital LLC acquired a new position in E.W. Scripps in the 2nd quarter valued at $48,000. 67.81% of the stock is owned by institutional investors and hedge funds.

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.

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