StockNews.com Upgrades E.W. Scripps (NASDAQ:SSP) to Hold

E.W. Scripps (NASDAQ:SSP) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

Separately, Benchmark decreased their target price on shares of E.W. Scripps from $11.00 to $7.00 and set a “buy” rating on the stock in a report on Tuesday, November 5th.

E.W. Scripps Trading Down 11.8 %

Shares of SSP stock opened at $2.01 on Monday. The stock has a market cap of $173.10 million, a P/E ratio of -0.68 and a beta of 1.66. E.W. Scripps has a 1 year low of $1.68 and a 1 year high of $9.35. The company has a current ratio of 1.34, a quick ratio of 1.50 and a debt-to-equity ratio of 3.41. The stock has a 50 day simple moving average of $2.33 and a 200 day simple moving average of $2.72.

E.W. Scripps (NASDAQ:SSP) last released its 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 negative net margin of 8.55% and a positive return on equity of 9.40%. 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 company posted ($0.15) earnings per share. On average, research analysts predict that E.W. Scripps will post 1.07 earnings per share for the current fiscal year.

Hedge Funds Weigh In On E.W. Scripps

A number of institutional investors have recently modified their holdings of the business. Sei Investments Co. bought a new position in E.W. Scripps in the 2nd quarter valued at approximately $38,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of E.W. Scripps during the second quarter worth $39,000. Diversified Trust Co bought a new position in shares of E.W. Scripps in the 3rd quarter valued at $42,000. CWM LLC grew its position in E.W. Scripps by 4,620.6% during the 2nd quarter. CWM LLC now owns 14,209 shares of the company’s stock worth $45,000 after acquiring an additional 13,908 shares during the last quarter. Finally, Virtu Financial LLC bought a new stake in E.W. Scripps during the 1st quarter worth $50,000. Institutional investors and hedge funds 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.