E.W. Scripps (NASDAQ:SSP) Price Target Raised to $4.00 at Wells Fargo & Company

E.W. Scripps (NASDAQ:SSP - Free Report) had its price objective hoisted by Wells Fargo & Company from $2.80 to $4.00 in a report published on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

E.W. Scripps Stock Performance

Shares of NASDAQ SSP traded up $0.03 during mid-day trading on Tuesday, hitting $3.27. The stock had a trading volume of 763,165 shares, compared to its average volume of 875,657. The firm has a market cap of $286.81 million, a PE ratio of 3.55 and a beta of 1.10. The company has a 50 day moving average of $2.78 and a two-hundred day moving average of $2.41. E.W. Scripps has a twelve month low of $1.36 and a twelve month high of $4.17. 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 (NASDAQ:SSP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $524.39 million for the quarter, compared to the consensus estimate of $520.04 million. Research analysts predict that E.W. Scripps will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On E.W. Scripps

Several institutional investors have recently bought and sold shares of the company. Jefferies Financial Group Inc. acquired a new stake in E.W. Scripps during the 4th quarter worth approximately $291,000. Wealth Enhancement Advisory Services LLC acquired a new stake in E.W. Scripps during the 4th quarter worth approximately $37,000. Millennium Management LLC increased its position in E.W. Scripps by 7.7% during the 4th quarter. Millennium Management LLC now owns 1,724,192 shares of the company's stock worth $3,810,000 after purchasing an additional 123,663 shares in the last quarter. Two Sigma Advisers LP increased its position in E.W. Scripps by 35.3% during the 4th quarter. Two Sigma Advisers LP now owns 471,600 shares of the company's stock worth $1,042,000 after purchasing an additional 123,100 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in E.W. Scripps by 31.3% during the 4th quarter. Federated Hermes Inc. now owns 467,596 shares of the company's stock worth $1,033,000 after purchasing an additional 111,504 shares in the last quarter. 67.81% of the stock is owned by institutional investors and hedge funds.

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.