E.W. Scripps (NASDAQ:SSP) Downgraded by Huber Research

E.W. Scripps (NASDAQ:SSPGet Rating) was downgraded by research analysts at Huber Research from an “overweight” rating to an “underweight” rating in a research note issued on Friday, The Fly reports.

Separately, Zacks Investment Research raised shares of E.W. Scripps from a “strong sell” rating to a “hold” rating in a research report on Wednesday, January 12th.

NASDAQ SSP traded down $0.73 during mid-day trading on Friday, hitting $16.52. The company’s stock had a trading volume of 3,885 shares, compared to its average volume of 353,857. E.W. Scripps has a 52-week low of $16.00 and a 52-week high of $23.61. The stock’s fifty day simple moving average is $19.99 and its two-hundred day simple moving average is $20.08. The company has a debt-to-equity ratio of 2.01, a current ratio of 1.37 and a quick ratio of 1.37. The firm has a market capitalization of $1.37 billion, a P/E ratio of 21.45 and a beta of 1.74.

E.W. Scripps (NASDAQ:SSPGet Rating) last posted its quarterly earnings results on Friday, February 25th. The company reported $0.45 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.01). E.W. Scripps had a net margin of 5.37% and a return on equity of 11.32%. The business had revenue of $622.29 million during the quarter, compared to analysts’ expectations of $623.76 million. During the same quarter in the previous year, the business posted $1.31 EPS. The company’s quarterly revenue was up 5.3% on a year-over-year basis. On average, equities analysts forecast that E.W. Scripps will post 2.07 earnings per share for the current fiscal year.

In other news, EVP William Appleton sold 5,000 shares of the company’s stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $22.00, for a total transaction of $110,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Daniel Perschke sold 3,058 shares of the company’s stock in a transaction dated Monday, March 7th. The stock was sold at an average price of $21.52, for a total transaction of $65,808.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,058 shares of company stock valued at $378,128. Insiders own 3.08% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new stake in E.W. Scripps in the first quarter worth about $84,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in E.W. Scripps by 58.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,668 shares of the company’s stock worth $159,000 after purchasing an additional 2,833 shares during the period. Teacher Retirement System of Texas acquired a new stake in E.W. Scripps in the fourth quarter worth about $197,000. Inspire Investing LLC acquired a new stake in E.W. Scripps in the first quarter worth about $236,000. Finally, Susquehanna International Group LLP acquired a new stake in E.W. Scripps in the fourth quarter worth about $257,000. Institutional investors and hedge funds own 66.93% of the company’s stock.

E.W. Scripps Company Profile (Get Rating)

The E.W. Scripps Company, together with its subsidiaries, operates as a media enterprise through a portfolio of local and national media brands. The company operates through Local Media, Scripps Network, and Other segments. The Local Media segment operates broadcast television stations, which produce news, information, and entertainment content, as well as its related digital operations.

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