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

Wall Street Zen cut shares of E.W. Scripps (NASDAQ:SSP - Free Report) from a hold rating to a sell rating in a report published on Friday morning.

Separately, Wells Fargo & Company boosted their target price on E.W. Scripps from $2.80 to $4.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 15th.

E.W. Scripps Stock Up 0.9%

Shares of SSP stock traded up $0.03 during trading hours on Friday, hitting $3.27. 763,165 shares of the company were exchanged, compared to its average volume of 877,773. The company has a debt-to-equity ratio of 2.84, a quick ratio of 1.36 and a current ratio of 1.36. E.W. Scripps has a one year low of $1.36 and a one year high of $4.17. The business's 50-day simple moving average is $2.80 and its two-hundred day simple moving average is $2.42. The stock has a market capitalization of $286.81 million, a price-to-earnings ratio of 3.55 and a beta of 1.10.

E.W. Scripps (NASDAQ:SSP - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.05. E.W. Scripps had a net margin of 5.71% and a return on equity of 17.81%. The firm had revenue of $524.39 million for the quarter, compared to analysts' expectations of $520.04 million. Sell-side analysts predict that E.W. Scripps will post 1.07 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SSP. Northwestern Mutual Wealth Management Co. boosted 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 acquiring an additional 4,715 shares in the last quarter. Two Sigma Securities LLC boosted its position in E.W. Scripps by 32.9% in the fourth quarter. Two Sigma Securities LLC now owns 23,489 shares of the company's stock valued at $52,000 after buying an additional 5,811 shares in the last quarter. ProShare Advisors LLC boosted its position in E.W. Scripps by 50.8% in the fourth quarter. ProShare Advisors LLC now owns 17,268 shares of the company's stock valued at $38,000 after buying an additional 5,819 shares in the last quarter. Victory Capital Management Inc. boosted its position in E.W. Scripps by 3.3% in the fourth quarter. Victory Capital Management Inc. now owns 211,740 shares of the company's stock valued at $468,000 after buying an additional 6,840 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in E.W. Scripps by 25.4% in the fourth quarter. Wells Fargo & Company MN now owns 36,592 shares of the company's stock valued at $81,000 after buying an additional 7,418 shares in the last quarter. Institutional investors 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.