E.W. Scripps (NASDAQ:SSP) Upgraded at StockNews.com

E.W. Scripps (NASDAQ:SSP) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Benchmark reduced their price target on E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a research report on Tuesday.

E.W. Scripps Price Performance

Shares of E.W. Scripps stock opened at $2.35 on Tuesday. The business’s 50-day moving average price is $2.31 and its 200-day moving average price is $2.75. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 3.79. E.W. Scripps has a 12 month low of $1.68 and a 12 month high of $9.35. The firm has a market capitalization of $202.38 million, a PE ratio of -0.64 and a beta of 1.66.

E.W. Scripps (NASDAQ:SSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 2.94% and a negative net margin of 11.06%. The company had revenue of $646.30 million for the quarter, compared to the consensus estimate of $634.01 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share.

Institutional Investors Weigh In On E.W. Scripps

Several institutional investors and hedge funds have recently bought and sold shares of the business. Empowered Funds LLC lifted its holdings in E.W. Scripps by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 276,838 shares of the company’s stock worth $622,000 after buying an additional 14,070 shares during the period. Victory Capital Management Inc. lifted its holdings in E.W. Scripps by 5.1% in the 3rd quarter. Victory Capital Management Inc. now owns 204,900 shares of the company’s stock worth $460,000 after buying an additional 9,900 shares during the period. GSA Capital Partners LLP lifted its stake in shares of E.W. Scripps by 1,335.9% in the 3rd quarter. GSA Capital Partners LLP now owns 612,366 shares of the company’s stock valued at $1,375,000 after purchasing an additional 569,720 shares during the period. Los Angeles Capital Management LLC lifted its stake in shares of E.W. Scripps by 33.1% in the 3rd quarter. Los Angeles Capital Management LLC now owns 166,906 shares of the company’s stock valued at $375,000 after purchasing an additional 41,525 shares during the period. Finally, Diversified Trust Co purchased a new position in shares of E.W. Scripps in the 3rd quarter valued at approximately $42,000. Hedge funds and other institutional investors 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.