Benchmark Issues Pessimistic Forecast for E.W. Scripps (NASDAQ:SSP) Stock Price

E.W. Scripps (NASDAQ:SSP) had its price objective decreased by Benchmark from $11.00 to $7.00 in a research report report published on Tuesday,Benzinga reports. Benchmark currently has a buy rating on the stock.

Separately, StockNews.com downgraded E.W. Scripps from a “hold” rating to a “sell” rating in a research note on Thursday, August 15th.

E.W. Scripps Stock Up 2.1 %

Shares of NASDAQ:SSP opened at $2.40 on Tuesday. The firm has a market cap of $206.68 million, a P/E ratio of -0.79 and a beta of 1.66. The company has a quick ratio of 1.50, a current ratio of 1.34 and a debt-to-equity ratio of 2.24. E.W. Scripps has a 12-month low of $1.68 and a 12-month high of $9.35. The business has a fifty day simple moving average of $2.31 and a 200 day simple moving average of $2.75.

E.W. Scripps (NASDAQ:SSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.37 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.19). E.W. Scripps had a positive return on equity of 8.27% and a negative net margin of 8.55%. The business had revenue of $646.30 million for the quarter, compared to analyst estimates of $634.01 million. During the same quarter in the previous year, the business posted ($0.15) earnings per share.

Hedge Funds Weigh In On E.W. Scripps

Several large investors have recently added to or reduced their stakes in SSP. Central Pacific Bank Trust Division bought a new position in E.W. Scripps in the 1st quarter valued at about $193,000. Empowered Funds LLC lifted its position in shares of E.W. Scripps by 8.1% during the 1st quarter. Empowered Funds LLC now owns 243,868 shares of the company’s stock worth $958,000 after buying an additional 18,375 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of E.W. Scripps by 21.8% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 94,392 shares of the company’s stock worth $371,000 after buying an additional 16,882 shares in the last quarter. Cove Street Capital LLC lifted its position in shares of E.W. Scripps by 34.2% during the 1st quarter. Cove Street Capital LLC now owns 3,703,082 shares of the company’s stock worth $14,553,000 after buying an additional 944,328 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of E.W. Scripps by 19.6% during the 1st quarter. Russell Investments Group Ltd. now owns 53,382 shares of the company’s stock worth $210,000 after buying an additional 8,745 shares in the last quarter. 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.